Alcatel and Finmeccanica receive approval from the European Commission
9 April 2005
Alcatel (Paris: CGEP.PA and NYSE: ALA) and Finmeccanica (Milano: SIFI.MI, FNC.IM) are delighted with the decision of the European Commission which has given its approval for the creation of the two companies, Alcatel Alenia Space and Telespazio.
Obtaining this agreement is linked to licence granting commitments in areas which the European Commission considers that both companies have strong competitive positions. This refers to Telemetry, Tracking and Control (TTC) and radar altimeters.
Now that this major step has been concluded, the legal and financial activities relating to the creation of both companies can be completed. This creation should occur on 1st July 2005. Senior manager nominations and the detailed organization of the company will occur following implementation of the new organization.
This major project will allow Alcatel Alenia Space to become one of the leading international companies in the field of satellites and Telespazio to play a preeminent role in space services activities.
About Finmeccanica, S.p.A.:
Finmeccanica is Italy's leading high-tech company, operating in the design and manufacture of helicopters, civil and military aircraft, aerostructures, space satellites and infrastructure, satellite services, command and control systems, defence electronics and systems, communications, security and IT. Finmeccanica participates in some of the largest international programmes in the sector through well-established alliances with European and American partners. Finmeccanica also boasts significant manufacturing assets and skills in the transport and energy sectors. With operations in Italy and abroad, it employs around 51,000 staff in total. Finmeccanica spends 16 % of its revenues on research and development. For more information, please visit http://www.finmeccanica.it/
Alcatel provides communications solutions to telecommunication carriers, Internet service providers and enterprises for delivery of voice, data and video applications to their customers or employees. Alcatel brings its leading position in fixed and mobile broadband networks; applications and services, to help its partners and customers build a user-centric broadband world. With sales of EURO 12.3 billion in 2004, Alcatel operates in more than 130 countries.
|Join the GlobalSecurity.org mailing list|