News Listings for Macchi

  • Finmeccanica cleared for Aermacchi takeover

    News | 29 Apr 2003 00:00

    <p>The Italian competition authority has cleared Finmeccanica's takeover of aircraft manufacturer Aermacchi. Finmeccanica agreed on 19 December 2002 to pay €160 million ($166 million) to the Foresio family in exchange for a 66.6% share of Aermacchi's holding company Aeronautica Macchi Group. Upon completion, the deal will bring 94% of Aermacchi under Finmeccanica's control.</p>
  • Finmeccanica takes over Aermacchi

    News | 07 Jan 2003 00:00

    <p>Finmeccanica has achieved a long-cherished goal in gaining control of Aermacchi by acquiring 66.6% of its parent company Aeronautica Macchi from former owner the Foresio family. The deal is valued at €160 million ($166 million). </p> <p>The takeover marks the end of a long-running campaign by Finmeccanica to acquire Aermacchi under a programme to build its defence and aerospace base. Finmeccanica's ownership of Alenia Aeronautica meant the holding company already owned 27.4% of trainer specialist Aermacchi. </p> <p>Last year, Finmeccanica bought Marconi Mobile and Telespazio, and is now negotiating with BAE Systems on forming a network warfare joint venture, Eurosystems. BAE and Finmeccanica signed a letter of intent last November, but the Italian government - which owns 32% of Finmeccanica - is cautious about it, and forced the postponement of a memorandum of understanding signing last month (<I>Flight International</I>, 17-30 December, 2002).</p> <p>Finmeccanica has now acquire
  • Aermacchi share buy-back scheme precedes Finmeccanica take-over

    News | 29 Jan 2002 00:00

    <p>In preparation for its take-over by Finmeccanica, Aermacchi has launched a share buy-back from banks and smaller shareholders. The buy-back involves about 2-3% of the shares of Aeronautica Macchi, Aermacchi's holding company. </p> <p>The negotiations between Finmeccanica, which already has a 25% share of the holding company, and the Foresio family, who own around 70%of the firm are expected to continue despite the failure of wider talks between the Italian state-owned giant and EADS to merge their military and aerostructures activities. </p> <p>Aermacchi, which is best known for military trainer aircraft like the MB339, was to have been part of the deal as the Italian side pooled the resources of Finmeccanica- owned Alenia Aeronautica with the private company ahead of the wider European consolidation. </p> <p>The buy-back means the merger discussions can proceed without any disturbance from third parties. However, Finmeccanica and the Foresio family continue to disagree over the
  • Latest P&WC turbofan set to power Dassault Falcon 7X corporate jet

    News | 13 Nov 2001 00:00

    <p>GRAHAM WARWICK / WASHINGTON DC </p> <p>Changes to the newest member of the family include a swept-blade fan and low-emissions combustor technology</p> <p>The latest addition to Pratt &amp; Whitney Canada's PW300 turbofan family, the PW307A, features new swept-blade fan and low-emissions combustor technology. </p> <p>The engine, selected to power Dassault's Falcon 7X business trijet, will be developed using a methodology intended to increase maturity at entry into service. </p> <p>The PW307A is a 6,100lb-thrust (27.1kN) growth version of the PW306 powering the Fairchild Dornier 328JET regional jet and Gulfstream 200 super mid-size business jet. It will also power the mid-size Cessna Citation Sovereign when it flies early next year. </p> <p>P&amp;WC chief executive Gilles Quimet says Dassault's performance targets for the Falcon 7X required an engine "between the PW306 and the PW308". The latter is the largest member of the PW300 family, a new-centreline engine developed to power
  • Finmeccanica closes in on Aermacchi purchase

    News | 28 Nov 2000 00:00

    <p>Andy Nativi/GENOA</p> <p>Finmeccanica is stepping up efforts to buy the 75% of Italian aerospace manufacturer Aeronautica Macchi it does not already own. Its aim is to strengthen its hand in final negotiations on the form of its planned aerospace joint venture with EADS. The Italian conglomerate's president, Alberto Lina, and chief executive Giuseppe Bono say they hope to close a deal soon. </p> <p>Aermacchi's strengths in the military trainer sector would boost Finmeccanica's bid to win trainer leadership for Alenia within the new "EMAC" venture, ahead of EADS, which has inherited the Mako programme from the former DaimlerChrysler Aerospace, plus other expertise from CASA. Within Europe, Alenia also faces competition from BAE Systems - which is studying further versions of the Hawk - and possibly Dassault, which may bid to enter the high end of the trainer market despite the closure of its Alpha Jet programme. </p> <p>Aermacchi has products ranging from piston-engined basic trai
  • Australia's Roulettes are straight aces

    News | 22 Feb 2000 00:00

    <p>Geoff Thomas </p> <p>When the Royal Australian Air Force's aerobatic team, the Roulettes, performs its series of crowd-thrilling aerial manoeuvres in the skies over Changi this week, flying in the 'Roulette Six' position will be the world's first and only female military aerobatic pilot-29-year-old Joanne Mein. </p> <p>Flying Swiss-designed, but Australian-assembled Pilatus PC9/As, the team is led by Sqn Ldr Sean Bellenger who's enjoying his first season as the boss. </p> <p>But it's his latest recruit who is sure to steal most of the limelight during the team's first appearance at the show since it debuted in 1982 at the inaugural Asian Aerospace. </p> <p>Like all the Roulettes' pilots, Flt Lt Joanne 'Jo' Mein is a flying instructor at the RAAF Central Flying School in Sale, Victoria. She has 2,900 flying hours, of which nearly half are on the PC9/A. </p> <p>Jo joined the RAAF in 1990 and after graduating a year later was posted to 36 Squadron at Richmond in New South Wales wh