Italy’s Finmeccanica group is beginning 2016 under a new unified structure, one that has ended its long-standing structure of being a holding group consisting of multiple separately controlled businesses. On January 1st 2016, the restructured company implemented a reorganization process originally launched by CEO and general manager Mauro Moretti in June 2014.
In this new structure Finmeccanica will now consist of four sectors and seven divisions. The following four sectors will be helicopters; aerospace; electronics, defense and security systems; and space. While the seven divisions will consist of helicopters; aircraft; aerostructures; avionics systems and space; defense electronics land and naval; defense systems; and security systems and information. These seven divisions will handle business delivery with full responsibility for managing their own operations and finances.
As a part of this corporate reorganization plan that merges Finmeccanica's aerospace, defense and security assets, AgustaWestland has been recently renamed Finmeccanica Helicopters. The combined company is expected to achieve various synergies and economies of scale. The announcement was made at the end of December and took effect on January 1st 2016.
We are proud of the work accomplished, which has allowed us to introduce the new organizational and operational model of the group, said Finmeccanica CEO Mauro Moretti.
This will increase the efficiency and effectiveness of the activities of Finmeccanica, reducing operating costs, thanks to maximizing economies of scale and synergies. With this one company, Finmeccanica consolidates its competitive position in international markets [for] aerospace, defense and security, increasingly complex and global, leveraging areas of technology leadership and product enhanced by belonging to one large industrial group.
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