Report: Finmeccanica CEO Mauro Moretti Could Mull DRS Sale

Mauro Moretti
Mauro Moretti

Italian defense and aerospace conglomerate Finmeccanica could be considering a sale of its DRS Technologies as part of an organization-wide restructuring initiative, Defense News reported Monday.

Mauro Moretti, Finmeccanica CEO, told reporters at the Farnborough International Airshow Monday that his company would analyze potential synergies of core activities between DRS and the rest of Finmeccanica, Tom Kington reports.

Kingston writes that Moretti described some of DRS’ work as a “a series of small activities” that could be sold off “rapidly.”

Moretti told reporters he believes the planned consolidation of the company’s core activities could help save 20 percent of costs, according to the report.

He added that Finmeccanica must shift its focus on developing new technologies, aerospace and defense systems.

Finmeccanica acquired DRS for $5.2 billion in 2008.

Check Also


MacLean Engineering Books $100M NASA Simulation Support Contract

MacLean Engineering & Applied Technologies has secured a potential five-year, $100M contract to help NASA develop integrate, validate, analyze, document, maintain and troubleshoot a Trick-based simulation environment.


Battelle Gets $140M SOCOM Contract to Build Nonstandard Commercial Vehicle

Battelle has been awarded a $140M contract modification to produce another nonstandard commercial vehicle platform for U.S. Special Operations Command to address an “emergent” requirement.