Marinette Marine Corporation (MMC) is a shipbuilding firm in Marinette, Wisconsin. MMC was a subsidiary of Manitowoc Marine Group of Wisconsin. MMC was sold to Fincantieri Marine Group in 2009. Marinette Marine Corporation (MMC) was founded on the Menominee River in Marinette, Wisconsin, in 1942 as part of the growth in the American shipbuilding industry during World War II. In 2000 Marinette Marine, a privately held company, was purchased by The Manitowoc Company for approximately $48 million. On August 4, 2008, the Manitowoc Company announced that it had signed an agreement to sell their Manitowoc Marine Group division, which includes Marinette Marine, to Fincantieri Marine Group Holdings, Inc. and minority investor Lockheed Martin. The sale was completed on January 1, 2009 to Fincantieri. The net purchase price in the all-cash deal was approximately $120 million.