DRS Sale Part of Finmeccanica’s ‘Turnaround’
ROME — Italy’s Finmeccanica is seeking a partner to help run its US-based electronics unit DRS, and also plans to sell off activity at DRS worth €200 million (US $225 million) in revenue in a bid to push the firm back to profitability.
The activities to be sold are DRS’ Aviation and Logistics, as well as Training Communications and Network solutions units, CEO Mauro Moretti told analysts in London on Jan. 28.
Moretti’s plan for DRS forms part of a new industrial plan the firm has launched, based on a study of the company Moretti undertook after he was appointed CEO by the Italian government in April.
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