March 16, 2020 | International, Naval
Fincantieri suspends operations amid coronavirus crisis
By: Tom Kington As Italy's coronavirus crisis worsens, state shipbuilder Fincantieri has suspended operations for two weeks at its Italian facilities. The announcement on Friday came as Italian authorities reported Italy's death toll from the virus had reached 1,266, while the total number of cases reached 17,660. This week, the Italian government placed the entire country under lockdown, restricting travel unless for work reasons and shutting down most shops as it attempts to slow the spread of the virus. Fincantieri said that following a request from unions, it would suspend production in Italy from March 16 to March 29. Fincantieri tried to reduce its exposure to the virus through teleworking and halting of business travel by staff. Italy's other major defense company, Leonardo, said this week it could not rule out the “temporary, partial and targeted suspension of operations of certain departments within production sites.” The firm also said marketing campaigns, supply chains, production and delivery times would likely be affected by the crisis. Leonardo expects to give an up update on impact of the virus on its financial performance soon. It reported revenue of 13.8 billion euros in 2019, up 12.6 percent year over year, thanks to healthy performance by its defense electronics and security and aeronautics divisions. https://www.defensenews.com/industry/2020/03/14/fincantieri-suspends-operations-amid-coronavirus-crisis