Rocket propulsion specialist Avio launched events at the Paris air show with an early-morning unveiling of a fresh corporate identity to mark a its new era as an independent business.
When GE Aviation bought the aircraft engines part of Turin-based Avio Aero for $4.3 billion in August 2013, the American jets giant wasn't interested in the space business. So, Avio space remained with venture capital owner Cinven, with a 14% minority stake still held by Italian aerospace group Finmeccanica.
Long-running discussions between Cinven, Finmeccanica and the Italian government – which owns about a third of Finmeccanica – could see a new ownership structure emerge. Chief executive Pier Giuliano Lasagni hints strongly at some resolution “this year”, with one possible outcome being a majority holding by Finmeccanica.
But in any case, he says, “Avio will remain Avio.” The company, he emphasises, “won't be digested” by another firm.
As a small company – 700 employees and 2014 turnover of €220 million – Avio has “a challenging future”, says Lasagni. Avio makes the solid rocket boosters for Europe's Ariane 5 heavy launcher, and is also prime contractor for the lighter Vega launcher, evolutions of whose main stages will double as the solid boosters for the modular Ariane 6, which will replace Ariane 5 from 2020.
So now, he says, Avio stands for “Advanced Vision Into Orbit”.
And, in a challenge not lost on Lasagni, that vision includes taking an even more prominent role in Europe's launchers industry. Apart from its solid rockets expertise, Avio is also a leader in the liquid oxygen-methane propulsion technology which will underpin new upper stages for Vega and Ariane – meaning that partnership relations with Avio are also a key to the successful conclusion of ongoing talks between Airbus and Safran, to create a Franco-German launchers joint venture to consolidate the Ariane programmes.
Source: Flight Daily News