Finmeccanica Reinforces Strategic Partnership with Eurotech by Making Investment in Eurotech
Italy, Italian Republic (Press Release) May 13, 2008 --
Rome, Italy -- May 13, 2008 -- The Board of Directors of Finmeccanica S.p.A. has decided to enter the shareholding of Eurotech through the acquisition of 11.1% of the Company’s share capital - equivalent to 3,936,461 shares - from a number of the company’s founders (Dino Feragotto, Roberto Chiandussi, Giorgio Pezzulli) at a price of €4.60 per share.
Finmeccanica will also sign a shareholder agreement with the current management of Eurotech – Chairman Roberto Siagri, Vice Chairman Massimo Mauri and Chief Technical Officer Giampietro Tecchiolli (“Manager Shareholders”) – who today hold around 10.7% of the share capital of the Company. The agreement will be communicated to the appropriate authorities and to the market in accordance with the terms foreseen by current regulations.
The entrance into Eurotech’s share capital will reinforce the strategic partnership initiated in July 2006 by means of an agreement for commercial and scientific cooperation, and will permit a further deepening of relations between the two Groups, particularly given the progress made by Eurotech in the development of innovative products as well as significant growth in new geographic areas of strategic importance to Finmeccanica such as the United States and Japan.
The operation is subject to the approval by the relevant regulatory authorities. Finmeccanica is assisted by Mediobanca, as financial advisor for the transaction.
About Finmeccanica
Headquartered in Italy, Finmeccanica (FNC.MI) is a leading global high-tech company with core competencies in the design and manufacture of helicopters, civil and military aircraft, aero structures, satellites, space infrastructure, missiles and defense electronics and security. The Group also boasts productive assets and consolidated competencies in the transport and energy sectors. Finmeccanica, listed on the Milan stock exchange, operates in Italy and abroad through subsidiaries and joint ventures, with a consolidated total of 60,000 employees of whom 10,000 are in the UK, 3,500 in France and 2,000 in the USA.
EUROTECH S.p.A.
Eurotech (ETH.MI), established in 1992, is a leading company in the research, development, production and sale of miniaturised computers (NanoPCs) and high performance computing (HPC) computers. Eurotech offers a complete range of products and services of the highest technology to customers operating in the aerospace, transport, security and manufacturing sectors. The Eurotech Group has its head office in Italy and is present in the USA, France, the United Kingdom, Finland, Japan, Germany and China, employing around 620 people with pro-forma revenues for 2007 of approximately €100 million. See www.eurotech.com for more information.
Located in Salt Lake City, UT (USA), Parvus Corp. is a wholly owned subsidary of Eurotech, also operating in the defense, aerospace, and transportation electronics sectors.
Finmeccanica will also sign a shareholder agreement with the current management of Eurotech – Chairman Roberto Siagri, Vice Chairman Massimo Mauri and Chief Technical Officer Giampietro Tecchiolli (“Manager Shareholders”) – who today hold around 10.7% of the share capital of the Company. The agreement will be communicated to the appropriate authorities and to the market in accordance with the terms foreseen by current regulations.
The entrance into Eurotech’s share capital will reinforce the strategic partnership initiated in July 2006 by means of an agreement for commercial and scientific cooperation, and will permit a further deepening of relations between the two Groups, particularly given the progress made by Eurotech in the development of innovative products as well as significant growth in new geographic areas of strategic importance to Finmeccanica such as the United States and Japan.
The operation is subject to the approval by the relevant regulatory authorities. Finmeccanica is assisted by Mediobanca, as financial advisor for the transaction.
About Finmeccanica
Headquartered in Italy, Finmeccanica (FNC.MI) is a leading global high-tech company with core competencies in the design and manufacture of helicopters, civil and military aircraft, aero structures, satellites, space infrastructure, missiles and defense electronics and security. The Group also boasts productive assets and consolidated competencies in the transport and energy sectors. Finmeccanica, listed on the Milan stock exchange, operates in Italy and abroad through subsidiaries and joint ventures, with a consolidated total of 60,000 employees of whom 10,000 are in the UK, 3,500 in France and 2,000 in the USA.
EUROTECH S.p.A.
Eurotech (ETH.MI), established in 1992, is a leading company in the research, development, production and sale of miniaturised computers (NanoPCs) and high performance computing (HPC) computers. Eurotech offers a complete range of products and services of the highest technology to customers operating in the aerospace, transport, security and manufacturing sectors. The Eurotech Group has its head office in Italy and is present in the USA, France, the United Kingdom, Finland, Japan, Germany and China, employing around 620 people with pro-forma revenues for 2007 of approximately €100 million. See www.eurotech.com for more information.
Located in Salt Lake City, UT (USA), Parvus Corp. is a wholly owned subsidary of Eurotech, also operating in the defense, aerospace, and transportation electronics sectors.
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