(NBC 26) — Fincantieri announced Tuesday that nearly $10 million in new federal investment is coming to its Wisconsin shipyards.
The investment includes approximately $8.3 million in Navy Shipbuilding Capability Industrial Base (SCIB) funding and a $1.3 million MARAD Small Shipyard Grant, according to a press release from the company.
The funding will accelerate the ongoing modernization of Fincantieri's Wisconsin System of Shipyards, adding advanced cutting, forming, welding and automation capabilities designed to improve production efficiency and strengthen the shipyards' ability to support current and future shipbuilding requirements.
“This investment is an important demonstration of the Navy’s confidence in Fincantieri, our people and our ability to be a partner in strengthening American shipbuilding,” said George Moutafis, CEO of Fincantieri Marine Group. “It also complements our efforts to put proven advanced manufacturing technologies into the hands of our employees so that we can deliver at speed. Together, these investments are helping create the industrial capabilities, skilled workforce and modern infrastructure needed to support the Navy’s future fleet requirements.”
Additionally, Gov. Tony Evers announced Monday more than $230,000 in state funding to train Fincantieri workers to operate and program advanced robotic welding systems.
Fincantieri Marine Group operates three shipyards in Northeast Wisconsin on the Great Lakes.
