Italian expertise kick-starts Europe's defence partnerships

Finmeccanica's defence and aerospace businesses form the core of the conglomerates activities, accounting for 65% of group turnover. Last year saw a net profit of L780 billion ($365 million) on sales of L12,050 billion.

While never being quite at the centre of consolidation events, Finmeccanica's businesses have attracted interest as BAE Systems, EADS and Thales have tried to mop up Italian expertise and markets. Finmeccanica's decision to merge the bulk of its Alenia-owned avionics and systems activities with GEC-Marconi - now part of BAE Systems - helped get European consolidation moving. EADS is close to completing a similar venture in military aircraft and Alenia Marconi Systems has joined BAE and EADS to create missile giant MBDA.

Consolidation has probably not ended there - Alenia Spazio's failed deal with space giant Astrium earlier this year is likely to resurface.

Source: Flight International