Finmeccanica agrees sale of rail businesses to Hitachi for $2.2 billion

Last Updated: Wednesday, February 25, 2015, 09:14

Italian aerospace and defence group Finmeccanica has agreed to sell its rail business to Hitachi Ltd in a deal which will cost the Japanese conglomerate up to 1.9 billion euros ($2.2 billion) and cut Finmeccanica`s debt by 15 percent.

Hitachi to buy Italian railways firms for over $2 bn

Last Updated: Tuesday, February 24, 2015, 09:20

Hitachi will buy the rail and traffic signal businesses of Italy`s Finmeccanica for an estimated $2.1 billion, reports said Tuesday, as the Japanese firm looks to expand overseas and challenge major international railways firms.

Def Min to keep out Finmeccanica group from military show

Last Updated: Friday, January 24, 2014, 20:22

After scrapping the Rs 3,600 crore chopper contract, Defence Ministry today said it is ousting AgustaWestland`s parent company Finmeccannica from the biennial military exhibition DefExpo starting February 6.

Proposal to buy torpedos from AgustaWestland`s sister concern

Last Updated: Friday, January 17, 2014, 16:14

A week before cancelling the VVIP chopper deal with AgustaWestland, the Defence Ministry had approved a long-pending Navy proposal for buying heavy-weight torpedos from the Italian company`s sister concern to be considered by the Cabinet Committee on Security.

AgustaWestland warns of job cuts as India scraps deal

Last Updated: Friday, January 3, 2014, 06:44

Italian defence group Finmeccanica said on Thursday its AgustaWestland unit welcomed a decision by the Indian government to take part in an arbitration process over a $770 million helicopter deal, but warned of possible job cuts.

India scraps AugustaWestland VVIP chopper deal on New Year`s Day

Last Updated: Wednesday, January 1, 2014, 16:07

The scrapping of the deal with AugustaWestland – the British arm of Italian firm Finmeccanica - could now open the doors for fresh contract with other chopper companies like United Technologies Corp`s Sikorsky Aircraft, EADS` Eurocopter and Lockheed Martin.

Facing deal termination, AugustaWestland invokes arbitration clause

Last Updated: Wednesday, November 20, 2013, 13:35

Facing threat of cancellation of its deal, AgustaWestland told the Defence Ministry it was not involved in any wrongdoing in securing the Rs 3,600 crore contract for supplying 12 VVIP choppers to the IAF.

India to cancel VVIP chopper deal with Finmeccanica`s AgustaWestland: Report

Last Updated: Tuesday, November 19, 2013, 17:04

India has decided to cancel a scandal-tainted helicopter deal with Anglo-Italian firm AgustaWestland, a news agency said.

Chopper scam: CBI to send judicial request to Italy

Last Updated: Monday, November 4, 2013, 13:50

With a view to finalising the charge sheet in VVIP helicopter purchase scam, CBI will send a judicial request to Italy seeking statements of the accused who have been facing trial in that country.

VVIP choppers: Sikorsky ready to pitch in if Agusta deal scrapped

Last Updated: Thursday, October 24, 2013, 18:06

With government moving towards cancelling AgustaWestland deal for VVIP choppers, US firm Sikorsky said it is ready to provide such helicopters to India if the contract is scrapped.

VVIP choppers: Sikorsky ready to pitch in if Agusta deal scrapped

Last Updated: Thursday, October 24, 2013, 18:06

With government moving towards cancelling AgustaWestland deal for VVIP choppers, US firm Sikorsky said it is ready to provide such helicopters to India if the contract is scrapped.

VVIP chopper deal scam: MHA to explain how accused went to Germany

Last Updated: Thursday, October 10, 2013, 18:31

Two top officials of Union Home Ministry have been directed by Delhi court to explain how one of accused in Rs 3600 crore VVIP helicopter deal scam was allowed to go to Germany without its permission.