Finmeccanica touts purchase of U.S. defense group

In continuing coverage from Tuesday's briefing, the Financial Times (5/14, Dinmore, Pfeifer) reported that Finmeccanica, "Italy's largest aerospace and defense group, Tuesday hailed its acquisition of" DRS, "a leading supplier to the U.S. military, as a 'strategic' deal that would allow it to market American products around the world." DRS produces "sensitive electronics equipment such as sensors and radar that are used by the military and the U.S. Department of Defense," and "are...deployed on Los Angeles and Virginia class submarines." The Times notes, "The acquisition still needs to be approved by the Committee of Foreign Investment, which vets foreign deals, but analysts said in spite of the sensitive nature of some of the DRS technology, Finmeccanica had managed to build up a good relationship with the Pentagon." Furthermore, expanding sales abroad by DRS is also expected to be a factor in presenting the merits of the deal to the regulators."