As part of a wider overall corporate reorganization plan that merges Finmeccanica's aerospace, defense and security assets, AgustaWestland has been renamed Finmeccanica Helicopters. Finmeccanica announced the change at the end of last month, effective January 1.
The company will be divided into four areas and seven divisions, succeeding the previous structure of a holding company and subsidiaries. The four sectors are helicopters; aerospace; electronics, defense and security systems; and space. The seven divisions are helicopters; aircraft; aerostructures; avionics systems and space; defense electronics land and naval; defense systems; and security systems and information. The combined company is expected to achieve various synergies and economies of scale.
"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."