All the news for Leonardo between Germany, Kuwait and Eurofighter
Leonardo has delivered the third and fourth Eurofighter Typhoons to Kuwait, part of a larger order of 28 jets for the country's air force. Furthermore, the Damen shipbuilding group has selected the Italian group to equip the new frigates of the German Navy with its naval defense systems.
From the beginning of the week, among the big names in Piazza Affari we also find Leonardo (who yesterday closed at + 2.56%).
While waiting for Italy to vary the increase in military spending up to 2% of GDP announced by Prime Minister Draghi, the aerospace and defense giant scores two successes in the week.
Leonardo has delivered the third and fourth Eurofighter Typhoons to Kuwait, part of a larger order of 28 jets for the country's air force. The group announced this yesterday, stating that the Eurofighter program for Kuwait "is proceeding successfully and in line with expectations on deliveries".
Furthermore, the day before the Damen shipyard selected the group's Oto 127/64 LightWeight Vulcano naval defense systems to equip the four F126 frigates (to which two optional ones are added), of the German Navy.
“Leonardo did not disclose the value of the contract, but we estimate it could be around 100 million”, comment the analysts of Banca Akros. The agreement, they add, "confirms the solid relationship between the Italian and German military industries with a strong potential for future growth".
Positive news therefore for the former Finmeccanica group, on which Colombiagate hovers. That is the case that sees the former prime minister Massimo D'Alema as a mediator in the 4 billion euro sale of military vehicles to Colombia by Fincantieri and Leonardo. "On April 5, meanwhile, Leonardo's number one, Alessandro Profumo, is expected to hear the Senate Defense Committee", Corriere reports today.
All the details.
DELIVERIES TO KUWAIT PROCEED
The third and fourth Eurofighter Typhoons destined for the country's Air Force, delivered by Leonardo, landed in Kuwait on 30 March.
The two aircraft are part of a larger order of 28 aircraft, destined for the country's Air Force. In April 2016, Kuwait signed a € 7.96 billion contract with Leonardo for 28 Tranche 3A aircraft, which will include Storm Shadow, Brimstone and other air-to-surface weapons.
Last spring Leonardo began collecting from the contract : around 300 million with a transfer from Kuwait. The contract saw the Piazza Monte Grappa group invest many resources, which have absorbed part of the cash in the last two to three years.
THE PARTICIPATION OF THE FORMER FINMECCANICA IN THE EUROFIGHTER CONSORTIUM
Four countries participate in the Eurofighter program: Italy, Germany, Spain and the United Kingdom. It is managed on an industrial level by the Eurofighter Consortium in which Leonardo (with 21%), Airbus Group and Bae Systems participate. However, the Italian defense group has an industrial share in the program of 36%.
SATISFACTION FOR LEONARDO VELIVOLI
"Last month the Eurofighters flew over Kuwait City as part of the 'National Day' celebrations, and it was a source of pride for us as it is to see the fleet grow" commented Guido Sibona, Head of the Eurofighter program at the Aircraft Division by Leonardo. “The Eurofighter Typhoons we have developed for the Kuwait Air Force are the most advanced ever produced under the European program. In cooperation with the Italian Air Force we are providing the country with a large air defense capability, together with the construction of state-of-the-art infrastructures for the support and maintenance of a fleet of 28 aircraft ”added the manager.
THE CONTRACT WITH DAMEN FOR THE GERMAN NAVY
Furthermore, on 30 March Leonardo concluded a contract in Germany with Damen.
In particular, the agreement provides for the supply of the naval defense systems OTO 127/64 LightWeight (LW) Vulcano to equip the four F126 class frigates, in addition to two optional ones, which the Damen Naval shipyard is building together with partners Blohm + Voss and Thales for the German Navy.
The agreement includes support and maintenance services, simulators for crew training and on-board activities for integration and commissioning. Furthermore, it further strengthens the long-standing strategic partnership between Leonardo and the German Navy,
Still in the naval field, Leonardo is consolidating the strategic relationship both with the Damen shipyard and with the Dutch Navy, adds the note. The latter has, in fact, already selected the 127/64 LW Vulcano, together with the automatic loading system standard ammunition and Vulcano, for the renewal of the four multi-role units of the De Zeven Provinciën class.
However, Leonardo did not provide the economic details of the recent agreement.
According to Banca Akros, the contract confirms the solid relations between the military industries of Germany and that of Italy "with high potential for future growth". Therefore, the investment bank confirmed the buy opinion and the target price of 12 euros on the share.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/tutte-le-novita-per-leonardo-fra-germania-kuwait-ed-eurofighter/ on Thu, 31 Mar 2022 05:53:33 +0000.