India’s AW101s – AgustaWestland has 7 days to respond
Source: HeliHub.com, 18-Feb-13
The Indian military have commenced legal proceedings which they hope will lead to the cancellation of their order for twelve VVIP AW101 helicopters. Through the formality of issuing a “show cause notice”, AgustaWestland now have to respond to the court within seven days on specific points to determine whether the contract remains valid or not. [...]
India’s AW101s – Focus on the middlemen
18-Feb-13
“Haschke [the middleman] sold AgustaWestland a story based on my relationship with (cousin) SP Tyagi. We have strained ties. He (Haschke) used my name to siphon off money. The CBI probe will bring out the truth. I welcome the CBI probe,” said the former Indian Air Force chief. (see full story) A new angle has [...]
AgustaWestland parent swiftly replaces arrested Orsi
Source: HeliHub.com, 14-Feb-13
Only 24 hours after Finmeccanica confirmed (see AgustaWestland – Orsi and Spagnolini arrested) that both the present and immediately past CEO of AgustaWestland had been arrested on alleged fraud charges, the parent company issued the following statement “The Board of Directors of Finmeccanica, which met today, confirms that the Company is fully operational, and has [...]
AgustaWestland – Orsi and Spagnolini arrested
Source: HeliHub.com, 12-Feb-13
Finmeccanica have issued a short statement confirming that Italian Police have arrested former AgustaWestland CEO Guiseppi Orsi, and his successor (and current CEO) Bruno Spagnolini. Orsi is now Chairman and CEO of parent company Finmeccanica. “With reference to the precautionary measures issued today towards the Chairman and CEO of Finmeccanica and the CEO of the [...]
S&P lowers debt rating of AW parent Finmeccanica
Source: Reuters, 21-Jan-13
Ratings agency Standard and Poor’s has down-graded Finmeccanica debt with a statement that says they no longer believe that the company’s metrics will improve in 2013, “even if come disposals are forthcoming”. They give an outlook of “stable”, believing the company can slightly improve operating profits in 2013. (see full text)
Ex-Finmeccanica manager arrested in Panama contract probe
Source: Gazetta del Sud, 24-Oct-12
Paolo Pozzessere was arrested on suspicion of international corruption in relation to deliveries made by three Finmeccanica subsidiaries, AgustaWestland, Selex and Telespazio, to the Panama government (see full story)
Finmeccanica boss has no intention to step down, says lawyer
18-Oct-12
Finmeccanica Chairman and CEO Giuseppe Orsi has no intention of resigning, his lawyer said on Monday after media reports at the weekend over allegations concerning the Indian AgustaWestland VIP AW101 contract (see full story)
Selex Galileo wins contracts for British Chinooks and US Army Apaches
Source: Finmeccanica, 04-Jun-12
Finmeccanica has been awarded new orders for a value worth EUR 220 million through its companies Ansaldo Energia, SELEX Galileo, SELEX Elsag and Telespazio. Ansaldo Energia, through its subsidiary Ansaldo Nucleare, has signed a service contract worth EUR 104 million with Nucleoel̩ctrica Argentina РSociedad Anonima (NASA). The aim of the contract is to upgrade [...]
Ex-AW boss Orsi under investigation for corruption and money laundering
Source: Corriere della Sera, 24-Apr-12
The Italian press is saying that Guiseppe Orsi, past CEO of AgustaWestland and now head of parent company Finmeccanica, is under investigation for corruption and money laundering. Read full story, translated from Italian [bear in mind that Orsi translates as "Bear" as you read the article]
Finmeccanica denies all AgustaWestland financial side-deals
Source: Finmeccanica, 24-Apr-12
With reference to the articles published in the last few days by some newspapers – and with particular reference to the circumstances that have associated the names of Finmeccanica and AgustaWestland with those of Valter Lavitola, the Hon. Marco Reguzzoni and events in India – the Finmeccanica Group, while fully respecting the work of the [...]
AgustaWestland North America Chairman/CEO gets new role
Source: OTO Melara, 11-Feb-12
OTO Melara North America, a subsidiary of OTO Melara S.p.A, a Finmeccanica company, is pleased to announce that it has appointed R. Scott Rettig as its Chairman and Chief Executive Officer. Along with his new role at OTO Melara North America Inc., Rettig will continue to serve as Chairman and Chief Executive Officer of another Finmeccanica company [...]
DRS Technologies appoints Chairman/CEO
Source: Finmeccanica, 01-Feb-12
Finmeccanica is pleased to announce that the Board of Directors of its US subsidiary DRS Technologies, Inc. has appointed William J. Lynn III as its Chairman and Chief Executive Officer. The appointment is effective immediately. Lynn replaces current Chairman and Chief Executive Officer Mark S. Newman who is retiring. This new appointment is a key [...]
Finmeccanica takes part in IDEF 2011
Source: Finmeccanica, 12-May-11
Finmeccanica – through its companies AgustaWestland, Alenia Aeronautica, Alenia Aermacchi, DRS Technologies,Oto Melara, SELEX Communications, SELEX Galileo, SELEX Sistemi Integrati, Telespazio (Finmeccanica/Thales) and Wass – will take part in IDEF (International Defense Industry Fair) 2011, to be held in Istanbul,Turkey, from 10 to 13 of May. For Finmeccanica, Turkey is first and foremost an industrial [...]
AgustaWestland’s Orsi tipped to be CEO of parent Finmeccanica
Source: Bloomberg, 05-Apr-11
Italian government wants Augusta Westland chief Giuseppe Orsi to be CEO of Finmeccanica to replace Guarguaglini and proposed Orsi as a board member of Finmeccanica to begin the process of appointing Orsi, according to a statement today.
