Ansaldobreda and Bombardier have received an order from Italy's state-controlled railway operator for 50 high-speed trains.
The order value is estimated to be €1.2bn ($1.6bn), according to The Wall Street Journal.
Finmeccanica unit Ansaldobreda and Canada-based Bombardier placed a joint bid for the contract to construct the trains.
The companies were chosen over French manufacturer Alstom based on a combination of price and the technical project offered.
