Finmeccanica plans to sell off activities at its American electronics unit DRS, and is seeking a partner to help run the American business, Defense News reports.
On the block: DRS’ Aviation and Logistics and Training Communications and Network solutions units, worth a combined $225 million U.S. in revenues. CEO Mauro Moretti told analysts in London on Jan. 28 that the Italian parent company has seen DRS’s business halved since 2008, partly because of declining U.S. defense spending, partly because of difficulties managing the company.
There were “clear difficulties managing the business effectively as a true domestic player if you are not American,” he said.
Read the full report at DefenseNews.com.
