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  • Thursday, April 18, 2024

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.

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