Finmeccanica confirms the disposal plan from "a billion euros within the year". The president and CEO of the group said so, Giuseppe Orsi, during the opening of the Farnborough aerospace show, near London. The strategy of the Italian defense giant foresees the sale of Ansaldo Energia, Ansaldo Sts and AnsaldoBreda.
as to spending reviews, Orsi assures that nothing will change for Finmeccanica: “Our programs have all been financed and will be financed – assured the manager -, therefore there will be no significant impact of the spending cuts. The support of the Italian government has not failed us, as well as that of the British government".
The group then estimates orders unchanged in 2012 from last year, amounting to 17,5 billion. The only difference with 2011 concerns the distribution of orders: this year 52% will come from international markets, while 48% from the so-called domestic markets (Italy, the United Kingdom and the United States). In 2011, however, the percentage was 50% for both.
In terms of subsidiaries, the merger between Selex Sistemi Integrati, Selex Elsag and Selex Galileo “it will start from January 2013 to rationalize the portfolio, consolidate technological excellence and give new growth strategies to the group – Orsi said again -. The Selex project was born to increase business. It is not a restructuring to reduce activities and personnel. Certainly some redundancies may arise, hopefully only temporary, but for the present moment, in which we are still in the planning phase, we have every intention of addressing this aspect”.
In any case, the President guarantees that “2012 will be the year of recovery. We are restructuring the portfolio, aiming for greater competitiveness and industrial restructuring. But all this cannot happen without greater control of capital and greater selection in investments. For this reason, we are looking at products with the best economic return".
By mid-morning, Finmeccanica's share on the Stock Exchange lost 2,21%.
