Alcoa has acquired Fairchild's fasteners subsidiary. The deal was announced in July for $657 million, and will move most Fairchild operations, worth 90% of sales, to Alcoa. Fairchild is now only a parts distributor. Israeli electronic warfare manufacturer Elta bought 30 % of the Elisra defence group on 27 November. The Israel Aircraft Industries subsidiary paid $330 million for the holding, with an option on a further 8% of Elisra. The UK has cleared Finmeccanica's acquisition of UK telecoms group Marconi's strategic communications arm. Finmeccanica closed the deal on 2 August for £387 million ($613 million). Telecom Italia announced details of the sale of its Telespazio satellite services arm to Finmeccanica. The Italian aerospace and defence group will pay €240 million ($239 million) for Telespazio, and assume €93 million in debt.

Source: Flight International