Brazil buys $5.33 billion from defense and aerospace italian co. Finmeccanica
Gallery of Products and Servces of Finmeccanica
The largest company in the defense and aerospace equipment from Italy, Finmeccanica, provides up to 4 billion euros (5.33 billion dollars) in orders from Brazil in coming years. The company is focusing on emerging markets to minimize the weakness in defense spending in other areas, Reuters informed today.
The company, which reported a 15 percent drop in quarterly profit, is also seeing signs of a limited recovery in segments that were “virtually dead” last year as the unit operated by the civilian helicopter.
The company, which assembles jets and military electronic systems of combat, has focused on cost reduction and new markets like India and Brazil.
In Brazil, the company said it expects to win a contract with Italy’s Fincantieri to supply warships and other contracts tied to the security of major sporting events that the host country, including the 2016 Olympic Games.
This can lead to orders of about 3 billion to 4 billion euros over the next 18 months, said chief financial officer of Finmeccanica, Alessandro Pansa. READ MORE HERE (in portuguese)