Leonardo to set up aerostructures joint venture by mid-year [Yahoo! Finance]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: Yahoo! Finance
Cingolani has said, promising the new firm will be one of the world's top three of its kind. “Our partner is both financial and industrial, and they have a strong demand for civil as well as military aviation components, rotorcraft and potentially space in the near future,” Cingolani said. He was speaking at a conference call with analysts after Leonardo announced preliminary results for 2025 which included new orders of €23.8 billion ($28.09 billion), up 14.5% and beating forecasts, helped by work on the sixth-generation GCAP program Revenues rose 11% to €19.5 billion, also beating targets, as Leonardo profits from rising defense spending around the world. The firm's civilian aerostructures unit has however been a loss maker in recent years, hurt by a slowdown in production of the Boeing 787 for which it supplies structures. Saudi Arabia's sovereign wealth fund has been widely rumored to be the would-be partner in talks to come on board the unit. Last year Cingolani said
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