WASHINGTON (Reuters) - The U.S. Navy announced on Thursday that Italy's Fincantieri (MI:FCT) won a competition worth more than $5.5 billion to build the Navy's newest class of warships known as frigates.
The Navy's contract is for detailed design and construction of the lead ship with an option to buy nine more. If the Navy exercised all options on the contract, delivery of the 10th ship would occur in May 2035.