Fincantieri S.p.A. (FNCNF,FCT.MI), an Italian shipbuilding company, on Tuesday announced that its subsidiary WASS Submarine Systems has secured an order worth more than 200 million euros from the Ministry of Defense of the Kingdom of Saudi Arabia for the supply of MU90 lightweight torpedoes.
The program will be managed by WASS' facility in Livorno, with deliveries expected between 2029 and 2030.
The deal is expected to support future cross-selling opportunities.
The agreement was announced during the 2026 World Defence Show in Riyadh.
The MU90 lightweight torpedo, a third-generation system, is currently in service with the Italian Navy and the navies of more than 10 other countries.
The system is designed for multi-mission, all-environment anti-submarine warfare operations and can be deployed from surface vessels and fixed- or rotary-wing aircraft.
The contract also includes the provision of logistical support services for the Royal Saudi Naval Forces.
The contract represents the largest order in WASS' 150-year history and marks a record in order intake following a recent contract with the Indian Navy.
The agreement marks the first direct contract between WASS and the Saudi Ministry of Defense.
On Monday, Fincantieri is currently trading 0.19% lesser at EUR 16.06 on the Milan Stock Exchange.
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