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Friday 23 June 2017
News updated at 5:22 PM IST

Finmeccanica's global presence grew in recent years

NEW DELHI, Feb 12, 2013, DHNS: 1:34 IST
“Finmeccanica is Italy’s leading industrial group in the high technology sector and ranks among the top 10 global players in aerospace, defence and security,” said the official website of the defence and aerospace giant.

The Finmeccanica group, which is battling bribery allegations and the arrest of its CEO and chairman, deals with helicopters, defence electronics and security and aeronautics. These sectors generate 73 per cent of the conglomerate’s revenues and comprise 67 per cent of its orders, besides employing 74 per cent of its staff. It has about 70,000 employees, of whom 43 per cent work at around 50 countries in five continents.

According to the website, in 2011, Finmeccanica generated 17.3 billion euros in revenue and obtained orders worth 17.4 billion euro. Finmeccanica has an order book of 46 billion euros and invests about 12 per cent of its revenues in research and development.

Both Finmeccanica and its subsidiary, AgustaWestland, were prominent participants at the Aero India show in Bangalore last week. AgustaWestland exhibited its range of helicopters, including the controversial AW101, at the event.

Established in 1948, Finmeccanica had close ties with India since the 70s. In 2011, the company faced charges that it had created slush funds to bribe politicians. Erstwhile chairman Pier Francesco Guarguaglini, under probe at present, was forced to quit.

The company said its international presence has grown constantly in recent years. At present, Finmeccanica’s industrial facilities are spread across the world, with about 350 companies, joint ventures, partnerships and joint industrial projects. AgustaWestland, the UK-based Anglo-Italian helicopter company, calls itself a “total capability provider in the vertical lift market.”

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