Fincantieri to Cut $330M Over Three Years

Friday, October 22, 1999
Fincantieri SpA will reportedly cut at least $334 million in costs - or between 15 and 20 percent of the total - over the next three years to return to profit. "By 2001, the company should be back in the black," Fincantieri Chief Executive Pier Francesco Guarguaglini told labor unions, according to press reports. The plan, while boosting production and efficiency, would not include layoffs. Fincantieri is expected to post a loss of more than $160 million this year and lose money next year as well. Guarguaglini was appointed chief executive in June.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

NASSCO Cuts Steel on APT "ECO Tanker"

General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built

Multraship Buys Three More Tugboats from Damen

Multraship and Damen Shipyards Group agreed on three new ASD (Azimuth Stern Drive) Tugs, all for delivery to Multraship in 2015. After delivery in Vietnam, scheduled

Waterjet-propelled Crewboat Delivered to Petrobras

BS Camburi, a 36-meter Monohull Crewboat built in Brazil by Arpoador Engenharia to the Petrobras type P2 specification has been launched and delivered.   Designed by Incat Crowther,

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2441 sec (4 req/sec)