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Business/Financial

Finmeccanica Completes Purchase of DRS

DDN

Monday, October 27th, 2008

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Italy's Finmeccanica last week completed is $5.2 billion acquisition of DRS Technologies, establishing a larger footprint in the United States for its defense business. "Today begins a new era for Finmeccanica," Pier Francesco Guarguaglini, chairman and CEO of Finmeccanica, said in a statement. "The acquisition of DRS further solidifies our position as a top-tier international competitor and reinforces our commitment to the U.S. market, industrial base and, most importantly, the American armed forces, establishing a strong transatlantic Defense Electronics capability."…

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