The Italian Almanac


Italian News - March 25

Finmeccanica SpA of Italy said Thursday one if its units had been awarded a 1.5 billion Euro contract to supply helicopters to the United Kingdom. The aerospace and defense company said the contract was part of the U.K. Ministry of Defence's planned 4.5 billion Euro helicopter procurement over the next 10 years.

The company's Thursday announcement came one day after European Union regulators approved a deal between Finmeccanica SpA and Britain's BAE Systems PLC to create a major joint venture in defense electronics.

Finmeccanica had said in January that it had signed a final agreement with BAE to create Eurosystems, a set of three joint ventures in defense electronics. Finmeccanica said it would pay the British group 516 million Euro as part of a deal that will create Europe's second-largest group in the sector.