The Black Shark torpedoes: here’s what’s behind the sale of Wass from Leonardo to Fincantieri

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Wass is regarding to move from Leonardo to Fincantieri. A transition between two state-controlled companies, which occurs following a long courtship that lasted years. The shipbuilding company had been interested in Wass, Leonardo’s underwater division, already during the previous management of Giuseppe Bono, the defense industry veteran who the Draghi government replaced with Pierroberto Folgiero two years ago.

Courtship of years

In Bono’s time the negotiations had never taken off, due to frosty relations with Leonardo’s then CEO, Alessandro Profumo. Now, however, with the new leaders of both groups, relations have improved and a collaboration agreement was also signed a few months ago.

Cingolani’s confirmation

Roberto Cingolani, CEO of Leonardo since 9 May 2023, confirms that the agreement for the sale of Wass is imminent: “We plan to accelerate, we are talking regarding days and not months, because we would like this matter to be closed”, he added during a Uilm conference in Genoa, specifying that the negotiations slowed down due to “temporary resistance” from internal managers. “We are closing and we will do it quickly.”

Siluri is sonar

Wass is based in Livorno, operates in the underwater defense industry, produces torpedoes and sonars, with approximately 450 employees. Many years ago it was a mixed public-private company, between Finmeccanica IRI and Fiat, at the time it was called Whitehead Alenia systems underwater, then it became entirely part of the Finmeccanica group and kept the name of Wass. In particular, Wass is responsible for the development of the Black Shark torpedoes, those that will equip the U212 NFS submarines of the Italian Navy made by Fincantieri. Another product is the Mu90 light torpedo.

Moretti’s “one company”.

During the management of Mauro Moretti , which changed the name of Finmeccanica to Leonardo and concentrated a large part of the companies and operating companies in the parent company “one company”, Wass was merged by incorporation into Leonardo. Since January 1, 2016, Wass’ activities have merged into the Defense Systems division, within Leonardo’s Electronics, Defense and Security Systems sector, together with Oto Melara of La Spezia, which produces land armaments (armoured and tracked vehicles, cannons, bombs).