UAE Eyes 48 M-346 Jets In EUR1 Bln Deal - Finmeccanica

The United Arab Emirates is in talks with Italian defense firm Finmeccanica SpA (FNC.MI) for 48 Alenia Aermacchi M-346 Master jet trainers in a deal that is worth up to EUR1 billion, the company's chairman and chief executive said Monday."The U.A.E. has selected the aircraft and has started negotiations for the acquisition of 48 M-346 aircraft," Pier Francesco Guarguaglini told a press briefing at the Paris Air Show.Saudi Arabia and Qatar have also expressed an interest in the M-346 jet, Guarguaglini said.As other markets slow, the U.A.E. and wider Gulf region is becoming an increasingly important market for Finmeccanica."We also hope to enter into the region's homeland security activities such as border control," he said.Guarguaglini said Alenia Aeronautica, Finmeccanica's fixed-wing aeronautics business, is also looking at setting up a joint venture with Abu Dhabi Autonomous System Investments to design and develop medium-altitude unmanned aerial vehicle systems, while its Alenia Aermacchi unit is also considering a joint venture in the country.In February, Finmeccanica's SELEX Sistemi Integrati won a EUR70 million contract to supply the U.A.E. Navy with command-and-control systems to equip patrol boats for the U.A.E. Armed Forces.Last October, Finmeccanica signed a high-tech industrial partnership agreement with Abu Dhabi's Mubadala Development Co.Mubadala Development Co.Loading... to produce composite components for civil aircraft.

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