For Immediate Release:

Fincantieri Marine Group Signs New Construction Projects

Sturgeon Bay WI—March 3, 2016: Fincantieri Marine Group (FMG) signed a contract for the

construction of an Articulated Tug Barge Unit (ATB) for delivery in late 2017. The

contract includes an option for a second ATB unit to be potentially delivered in 2018. The

vessels will be built at FMG’s Fincantieri Bay Shipbuilding (FBS) in Sturgeon Bay,

Wisconsin.

The new barge will have a capacity of 185,000-barrels with dimensions of 578 feet by 78

feet. The tug will be an 8000-HP unit equipped with new Tier IV engines to meet the

latest EPA emission standards. When complete, this new ATB will operate on the East

Coast and Gulf of Mexico.

“We are pleased to have this opportunity,” stated Francesco Valente, FMG President

and CEO. “This new contract marks an additional expansion of our product portfolio,

confirms our ability to win business with new customers in a very competitive market and

further consolidates our presence and reach in the U.S. market.”

“This award increases our pipeline of new construction to 10 vessels and provides

additional stability to our business,” added FBS Vice-President and General Manager,

Todd Thayse. “We are grateful for the confidence that our customers continue to place in

our reputation for quality and the strong shipbuilding skills of our workforce.”

Fincantieri Bay Shipbuilding is an operating division of Fincantieri Marine Group, the

United States subsidiary of global shipbuilding giant Fincantieri, employing almost

21,000 people in 21 shipyards on four different continents, and with a 230-year track

record of building more than 7,000 ships.

_____________________________

For Additional Information Contact:

Michael Pinkham, FBS Vice President of Sales and Marketing at 715.587.6960

michael.pinkham@us.fincantieri.com

Photo Attached:

Caption: Fincantieri Bay Shipbuilding in Sturgeon Bay, WI

ABOUT FINCANTIERI

Fincantieri is one of the world's largest shipbuilding groups and number one by diversification and presence in all high value-added market sectors, having built more than 7,000 vessels in over 230-years of its maritime history. It is world leader in cruise ship construction and a reference player in other sectors, from naval vessels to cruise ferries, from mega-yachts to special high value-added vessels, from ship repairs and conversions to offshore vessels. Headquartered in Trieste (Italy), the Group has approximately 21,600 employees, of which almost 7,800 are in Italy, and 21 shipyards on four continents.

In 2013 the Group acquired VARD, a company listed on the Singapore Stock Exchange that builds offshore support vessels for oil & gas exploration and production. Fincantieri has doubled in size to become the West's leading shipbuilder.

Fincantieri operates in the United States through its subsidiary Fincantieri Marine Group (FMG). This

company, which serves important government customers, including the U.S. Navy and Coast Guard, has three shipyards (Fincantieri Marinette Marine, Fincantieri Bay Shipbuilding and Fincantieri Ace Marine), all located in the Great Lakes region.

###############