Leonardo – Finmeccanica
Leonardo-Finmeccanica (Italy) (formerly Finmeccanica) is involved in the design, development and delivery of two Transporter Erector Replacement Vehicles to support the US Intercontinental Ballistic Missile (ICBM) Minuteman III-fleet. It is also involved in the joint venture that supplies medium-range air-to-surface missiles for the French arsenal.
Leonardo-Finmeccanica (“Leonardo”), based in Italy, develops products and services in the fields of aerospace, military, security and transportation.[a] The company changed its name from Finmeccanica to Leonardo in April 2016 and operates during the transition period (until the end of 2016) under the name Leonardo-Finmeccanica.[b]
In the financial year ending 31 December 2015, Leonardo generated revenues of € 13.0 billion, resulting in an operating income of € 462.0 million and a net profit of € 487 million.[c]
Leonardo’s’s US-subsidiary DRS obtained a US$ 25 million (€ 18.8 million) contract from the US Air Force in June 2013 for the design, development and delivery of two Transporter Erector Replacement Vehicles to support the Intercontinental Ballistic Missile (ICBM) Minuteman III-fleet.[i] Transporter Erectors play a critical role as the sole vehicle used for transporting, positioning and removing the Minuteman III-booster at various US-launch facilities. It is considered a vital piece of equipment for the ICBM weapon system.[ii]
Delivery of the first two Transporter Erectors was to be completed by November 2015. If all options are exercised by the Air Force, the total value of the Transporter Erector Replacement Program (TERP) could reach over US$ 92 million (€ 69.3 million) for up to 26 mobile vehicles to be delivered through 2019. The operation is overseen by the Air Force Global Strike Command.[iii] In May 2016, DRS received a US$ 7.2 million (€ 6.3 million) contract modification for additional transport capabilities.[iv]
MBDA-Systems, a joint venture between BAE Systems (37.5%), Airbus (37.5%) and Leonardo (25%), supplied the medium-range air-to-surface missile ASMPA to the French air force, which has been operational since 2009. It carries an airborne nuclear warhead developed by the CEA.[v] In July 2014, MBDA commenced work on design and development of the mid-life upgrade of the ASMPA, to extend life through 2035. The contract has a value of € 57.3 million.[vi] Reportedly MBDA is also charged with the development of the ASMPA-successor ASN4G, to be operational in 2035.[vii]
The following financial institutions have made approximately US$ 8,436 million available to this producer since January 2013.
- American International Group (AIG)
- Banca Monte dei Paschi di Siena
- Banca Popolare di Sondrio
- Banca Popolare Emilia Romagna
- Banco Bilbao Vizcaya Argentaria (BBVA)
- Banco Popolare
- Bank of America
- Bank of China
- BNP Paribas
- BPCE Group
- Capital Group
- Carige Group
- Crédit Agricole
- Crédit Mutuel CIC Group
- Deka Group
- Deutsche Bank
- Fidelity Worldwide Investment
- GE Capital Services
- Goldman Sachs
- Gruppo BPM
- Henderson Group
- Intesa Sanpaolo
- JPMorgan Chase
- Libyan Investment Authority
- Mitsubishi UFJ Financial
- Morgan Stanley
- Muzinich & Co
- Norwegian Government Pension Fund – Global
- Royal Bank of Scotland
- Société Générale
- Sumitomo Mitsui Financial
- UBI Banca
This page was last updated 30 November 2016.
[a] Leonardo, “Profile”, Website Leonardo (www.leonardocompany.com/en/chisiamo-aboutus/profilo-profile-chisiamo-aboutus-2), viewed June 2016.
[b] Finmeccanica, “Finmeccanica: Shareholders’ Meeting Approves the Change of the Company’s Name and the 2015 Financial Statements”, News Release Finmeccanica, 28 April 2016 (www.leonardocompany.com/en/-/cs-28042016).
[c] Finmeccanica, “Annual Report 2015”, Finmeccanica, March 2016.
[i] DRS Technologies, “DRS Technologies Awarded $25 Million to Provide US Air Force with New Minuteman III Transporter Erector Vehicle”, News Release DRS Technologies, 4 June 2013 (www.drs.com/news-and-events/press-releases/us-air-force-awards-drs-with-minuteman-iii-transporter-erector-vehicle-contract/);
U.S. Department of Defense, “Daily Contracts List – Contract FA8204-13-C-0010”, U.S. Department of Defense, 21 May 2013 (archive.defense.gov/Contracts/Contract.aspx?ContractID=5045).
[ii] U.S. Department of the Air Force, “Replace Transporter Erector – Solicitation Number: FA8204-11-RFITERP1”, Website U.S. Federal Business Opportunities, , 29 August 2011 (www.fbo.gov/index?s=opportunity&mode=form&id=5e7c2aec6566533505ee0742f55b82a6&tab=core&_cview=1).
[iii] DRS Technologies, “DRS Technologies Awarded $25 Million to Provide US Air Force with New Minuteman III Transporter Erector Vehicle”, News Release DRS Technologies, 4 June 2013 (www.drs.com/news/20130604.aspx);
U.S. Department of Defense, “Daily Contracts List – Contract FA8204-13-C-0010”, U.S. Department of Defense, 21 May 2013 (www.defense.gov/Contracts/Contract.aspx?ContractID=5045);
ASDNews, “DRS Awarded $25 M to Provide USAF with New Minuteman III Transporter Erector Vehicle”, Website ASDNews, 6 June 2013 (www.asdnews.com/news-49424/DRS_Awarded_USD25_M_to_Provide_USAF_with_New_Minuteman_III_Transporter_Erector_Vehicle.htm?HASH=46bc1c8c56e97113d175a0158a338de7&utm_source=ASDNews&utm_medium=email&utm_campaign=ASDNews+Daily+Z3&utm_content=frank.slijper%40hetnet.nl#ixzz2VQCEDfAC).
[iv] U.S. Department of Defense, “Daily Contracts List – Modification P00022 to Contract FA8204-13-C-0010”, U.S. Department of Defense, 27 May 2016 (www.defense.gov/News/Contracts/Contract-View/Article/783987);
[v] Direction Générale de Ármement, “Le missile ASMPA”, Website Direction Générale de Ármement, 24 March 2016 (www.defense.gouv.fr/dga/equipement/dissuasion/le-missile-asmpa).
[vi] Ministère de Finances et des Comptes Publics, “Extrait du Bleu Budgétaire de la Mission: Défense”, Ministère de Finances et des Comptes Publics, 7 October 2014 (www.performance-publique.budget.gouv.fr/sites/performance_publique/files/farandole/ressources/2015/pap/pdf/DBGPGMPGM146.pdf);
Tran, P., “France Studies Nuclear Missile Replacement”, Website DefenseNews, 29 November 2014 (www.defensenews.com/story/defense/international/europe/2014/11/29/france-studies-nuclear-missile-replacement/19668735/), viewed June 2016.
[vii] Tran, P., “Onera explores Mach-8 Missile Engine Technology”, Website DefenseNews, 17 October 2015 (www.defensenews.com/story/defense/air-space/air-force/2015/10/17/onera-explores-mach-8-missile-engine-technology/73928488/);
Merchet, J.D., “MBDA, une entreprise pionnière de l’Europe de défense”, Website L’Opinion, 23 March 2015 (www.lopinion.fr/blog/secret-defense/mbda-entreprise-pionniere-l-europe-defense-22548);
Hollande, F., “Discours sur la dissuasion nucléaire – Déplacement auprès des forces aériennes stratégiques. Istres (13)”, Présidence de la Republique Française, 19 February 2015 (www.elysee.fr/declarations/article/discours-sur-la-dissuasion-nucleaire-deplacement-aupres-des-forces-aeriennes-strategiques-istres-3/);
Warwick, G. & L. Dickerson, “Arming New Platforms Will Push Up Value Of Missiles Market”, Website Aviation Week, 5 January 2015 (aviationweek.com/defense/arming-new-platforms-will-push-value-missiles-market).