Leonardo and the African group Paramount signed a letter of intent during the Africa Aerospace & Defense show in Pretoria.
The agreement provides for the two companies to engage in a collaboration for the possible development of an operational configuration of the M-345 intended for the African continent market and to evaluate Paramount's involvement in the industrial activities relating to the SF-260 aircraft and related logistic support.
Lucio Valerio Cioffi, head of Leonardo's aircraft division said: “We believe that the African continent represents a high-potential market for the M-345. We believe that the collaboration with a high-profile partner such as Paramount is strategic for the development of an operational configuration of the M-345 destined for the African market. The M-345 is a basic/advanced trainer jet with multi-role capabilities and costs comparable to those of a turboprop aircraft. These and other characteristics make this aircraft particularly suitable for the needs of the African market".
In Piazza Affari, the Leonardo stock is currently gaining 0,6% to 10,62 euros.
