Italian aerostructures specialist Dema has undergone a board shake-up following the purchase of an 85% stake in the firm by London investment house Bybrook Capital. Founder Vincenzo Starace, who now holds 24% of the capital, continues as chief executive, and becomes deputy chairman, with former senior Leonardo executive Fabrizio Giulianini now heading the board.
Two other new directors join Giulianini and Starace. Jean-Michel Aubertin is a one-time president of the then-EADS’s telecommunications satellite business, while Marco Fumagalli is chief executive of an Italian medical technology company.
Naples-based Dema was founded 25 years ago, and has become one of Italy’s foremost aerostructures players, working mainly in the commercial sector, with contracts on the Boeing 787 and Airbus A220 among others. Giulianini says one of the priorities of the company will be to “be accredited in the defence sector”.
Dema has around 800 employees and has three factories in Italy as well as a design centre in Montreal. In May the company signed a cooperation agreement with state-owned Abu Dhabi aerostructures business Strata, which will “enable both companies to transfer knowledge and exchange manufacturing services”.
Source: Flight International