Tag Archives: Aerospace & Defense (NEC) (TRBC level 5)

Piaggio Aerospace Italia invited five bidders to make purchase bids | Instant News


MILAN (Reuters) – Piaggio Aerospace Italy, which applied for creditors’ protection at the end of 2018, said on Wednesday that it had officially invited five bidders to make a buyout bid for the group.

The deadline for five bidders to submit non-binding bids was set for March 5, the company said in a statement, adding they were interested in buying the group’s aircraft and engine businesses.

Company special administrator Vincenzo Nicastro has sent out the letters as a further step in the company’s sales process, which began last year when Piaggio Aerospace initially withdrew expressions of interest from 19 international bidders.

“Having five applicants on the short list is very positive, especially if we consider that the pandemic has objectively discouraged many foreigners,” said Nicastro.

Nicastro said that a non-binding offer would be assessed by the Italian Ministry of Economic Development and then talks would start on arriving at a binding offer.

Reporting by Giulio Piovaccari, editing by Agnieszka Flak

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Croatia has shown interest in F-35 jets, Lockheed executives said | Instant News


WASHINGTON, February 19 (Reuters) – Lockheed Martin Co., the United States’ biggest arms maker, has raised interest from Croatia regarding the purchase of stealth F-35 jets, a Lockheed executive said on Friday.

Greg Ulmer, executive vice president of Lockheed’s Aeronautics unit, told reporters “they have shown interest” in buying the jets, which make up a large share of Lockheed’s revenue.

Croatia is evaluating US, French and Swedish bids for fighter jets as it looks set to modernize its air force, which now flies Russian-made MiG-21 jets dating from the past in former Yugoslavia.

Croatia wanted to buy 12 second-hand F-16 fighter jets from Israel, but failed after Israel said it here in 2019 could not get approval from the United States for the sale.

Other international customers for the fifth-generation F-35 include Canada, Finland and Switzerland, who are running competitions for future jet purchases. Additional customer prospects for the Lockheed F-35 include Greece, Spain, Eastern Europe and Middle Eastern countries, Ulmer said in a media conference call.

Lockheed has also seen international interest for as many as 300 fourth-generation F-16 fighters on top of its current production stockpile of 128 jets, Ulmer said. (Reporting by Mike Stone in Washington, DC; Editing by Dan Grebler)

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Leonardo Italia raised around 2.1 billion euros on the US DRS list: paper | Instant News


ROME (Reuters) – Italian defense group Leonardo will raise about 2.1 billion euros ($ 2.54 billion) from the list of US DRS units on the New York Stock Exchange, the daily Il Messaggero reported on Friday.

FILE PHOTO: A hostess walks past Leonardo’s helicopter logo at headquarters in Vergiate, near Milan, Italy, January 30, 2018. REUTERS / Massimo Pinca

The newspaper said the state-controlled Leonardo will hold a board meeting next week to decide on an initial public offering (IPO), which is expected to be completed in March.

At the request of Italian market watchdog Consob, the group issued a statement saying it was evaluating the possibility of registering DRS.

He added that no official decision on the matter had yet been taken, confirming what sources told Reuters.

The move is intended to support the defense conglomerate’s strategy and increase fresh liquidity and is expected to consist of a sale of 40% stake in Leonardo as well as a cash call, the report added.

In November, Leonardo said it intends to retain control of the unit while assessing various options for US subsidiaries, including NYSE listing.

Leonardo bought DRS in 2008 in a deal that valued the US defense firm for $ 5.2 billion, including $ 1.27 billion in debt, equal to 3.4 billion euros at the time of the acquisition, according to Leonardo’s presentation of the 2008 deal.

Il Messaggero said the DRS was given a total value of close to 3.5 billion euros.

The defense conglomerate was among the top three performers on the Italian blue chip index, posting a 10% gain on the day.

($ 1 = 0.8268 euros)

Reporting by Stefano Bernabei and Francesca Landini; writing by Giulia Segreti; editing by Subhranshu Sahu, David Evans and Jonathan Oatis

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Leonardo Italia will provide a cyber testing and training system to Qatar | Instant News


MILAN (Reuters) – Leonardo Italia has signed a contract with the Qatar Foundation for Education, Science and Community Development to provide cyber security services, the aerospace and defense group said on Wednesday.

Under the agreement, Leonardo will supply the Qatar Computing Research Institute (QCRI) platform to facilitate training of cyber security operators and enable the agency to assess the resilience of digital infrastructure to cyber attacks.

Reporting by Francesca Landini

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Leonardo will invest $ 440 million to upgrade a plant in southern Italy -CEO | Instant News


MILAN, 20 Jan (Reuters) – Leonardo’s aerospace and defense group will invest 360 million euros ($ 436 million) over the next few years to modernize four plants based in southern Italy, Chief Executive Alessandro Profumo said on Wednesday.

Speaking at the digital event, Profumo said the investment was aimed at upgrading factories in Pomigliano and Nola, near Naples, as well as sites in Grottaglie and Foggia, in the Apulia region.

These factories produce components for the C27J military transport aircraft, ATR commercial and military turbo-prop aircraft, as well as parts for Boeing and Airbus aircraft.

This investment, part of a plan dubbed ‘Betomorrow 2030’, aims to make factories more flexible so that the same production line can produce components for a wide range of products, Profumo said.

Profumo added that the state-controlled group will also support investment to reduce the digital divide in southern Italy and increase cooperation with universities through research and innovation. ($ 1 = 0.8262 euros) (Reported by Francesca Landini; Editing by David Gregorio)

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