Fin­mec­ca­nica ap­proves new project

SP's MAI - - CORPORATE -

The Board of Di­rec­tors of Fin­mec­ca­nica, con­vened un­der the chair­man­ship of Gianni De Gen­naro, ex­am­ined and ap­proved the project for a New Group Or­gan­i­sa­tional and Op­er­at­ing Model ap­ply­ing to the Aero­space, De­fence and Se­cu­rity sec­tors (A,D&S).

The new or­gan­i­sa­tional model is in line with sim­i­lar ini­tia­tives pro­moted by our main com­peti­tors aimed at ef­fec­tively tack­ling the chal­lenges posed by the trans­for­ma­tions af­fect­ing the in­ter­na­tional sce­nar­ios of ref­er­ence. These trans­for­ma­tions mainly re­late to the re­duc­tion of do­mes­tic bud­gets, the grad­ual com­ple­tion of pro­grammes funded by the Gov­ern­ments and the in­crease of com­pet­i­tive­ness re­quire­ments.

The model will en­able to value the hu­man cap­i­tal, in­crease the re­turn on in­vested cap­i­tal and en­sure higher prof­itabil­ity, sus­tain­abil­ity and cash flow gen­er­a­tion. It rep­re­sents a fur­ther sig­nif­i­cant step to­wards strength­en­ing the Groups’s gov­er­nance, thus ex­e­cut­ing Fin­mec­ca­nica’s strate­gic plan as at May 2013, with the fol­low­ing key ob­jec­tives: Re­struc­tur­ing, re-launch and de­vel­op­ment of A,D&S, through rel­e­vant con­sol­i­da­tion and in­dus­trial re­or­gan­i­sa­tion ini­tia­tives. Con­cen­tra­tion in A,D&S, through the dis­posal of An­saldo En­er­gia and the ex­pected de­con­sol­i­da­tion of the trans­porta­tion. En­hanc­ing of Gov­er­nance, through a num­ber of tar­geted ini­tia­tives aimed at short­en­ing the reporting lines, in­creas­ing the or­gan­i­sa­tion’s ef­fec­tive­ness and im­prov­ing man­age­ment ef­fi­ciency. Fin­mec­ca­nica is ac­tive in the fol­low­ing sec­tors: He­li­copters (Agus­taWest­land), De­fence Elec­tron­ics and Se­cu­rity (Selex ES, DRS) and Aero­nau­tics (Ale­nia Aer­ma­c­chi) – which rep­re­sent its core busi­ness – and it is also well po­si­tioned in the sec­tors of space (Te­lespazio, Thales Ale­nia Space), de­fence sys­tems (Oto Me­lara, WASS, MBDA) and trans­porta­tion (An­saldo STS, An­sal­doBreda, BredaMe­nar­inibus).

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