High-flying Italians secure UK defence deal

Lee, Andrew
February 2005
Engineer (00137758);2/11/2005, Vol. 293 Issue 7668, p20
This article reports that Italian aerospace and electronics group Finmeccanica SpA has emerged as a major player in Great Britain defense technology sector following a �600m deal with BAE Systems. Finmeccanica claimed the deal would establish it as Europe's second- largest defense electronics group behind France's Thales and number six in the world. The agreement leaves 25 per cent of the new avionics unit under BAE ownership, but gives Finmeccanica the right to buy the remaining stake for an additional �269m at any time.


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