Finmeccanica's board last week approved partnership agreements with BAE Systems and Alcatel of France. Under the separate deals, Finmeccanica and BAE will terminate their AMS (formerly Alenia Marconi Systems) joint venture by reconsolidating their respective assets to form EuroSystems, an avionics company controlled 75% by Finmeccanica and 25% by BAE. With Alcatel, Finmeccanica will form two joint ventures under the Space Alliance: the first, in which Alcatel will control 67%, will operate in the satellite building sector; while the second and smaller one, in which Finmeccanica will also own 67%, will provide satellite services, multimedia applications and earth observation systems.

Source: Flight International