Fincantieri is open to all types of collaboration with the warship department of corporation Thyssenkrupp, but it is up to Germany to decide on a technique for the system, the CEO of the Italian shipbuilder said on Wednesday.

Now is time for German organizations to comprehend what the best strategy is to give more value and reinforce (Thyssenkrupp. Marine Systems). We are at their disposal for any possible kinds. of collaboration, Fincantieri Chief Executive Pierroberto. Folgiero told Bloomberg television.

Last week personal equity firm Carlyle left of. a bidding process for Thyssenkrupp Marine Systems (TKMS), in a. major blow to the German group's restructuring.

The business did not say why Carlyle took out, however said it. would now focus on a spin-off of the division, which develops. submarines and frigates, which it stayed available to commercial. collaborations.

Folgiero stated the group would have an interest in broadening the. existing business partnership with TKMS or producing new. ones to be important to their strategies.

Fincantieri has never made a secret of its interest in TKMS,. especially given its drive to grow in the defence business, at. a time when spending by federal governments is increasing due to higher. political instability, and defence groups are pushing for larger. European alliances.

De-fragmentation (of the defence market) is the method. forward, to spend better before spending more, Folgiero said,. including that debt consolidation would likewise result in higher sharing of. producing platforms.

Fincantieri purchased Leonardo's UAS in May in a. offer providing the submarine business a business value of 415. million euros ($ 450 million) and it launched a capital walking of. up to 500 million euros in two parts to finance the operation.

That process probably suggests another acquisition is not on. the cards for the time being.

With an M&A deal that has simply been finished it is. most likely a bit early to think about another one now, a source. told Reuters.

(source: Reuters)