Following the flotation on the
Milan stock exchange of Italian rocket maker Avio, the share of
capital held by Leonardo Finmeccanica rose Tuesday from 14% to
about 28% of the company.
Taking part in the transaction are about 40 Avio executives,
who will hold about 4% of the total shares, while Cinven funds
are leaving it entirely.
"We are a technological publicly-quoted company with over 100
years of history, the first in the world specialized in the
production of launch rockets that take satellites into space and
make our life on earth easier and safer," Avio CEO Giulio Ranzo
said. "Our flotation on the stock exchange will enable us to
speed up our investment for the growth and development of our
products. Since 2015 we have been working on the new launch
rocket Vega C and motors for the first stage of Ariane 6, which
will be launched in 2019 and 2020. Since the beginning of the
year, we have begun the development of Vega E, which will be
launched in 2025".
Avio is one of the main international companies working in
the field of space propulsion systems. It is headquartered in
Colleferro (Rome) and maintains a presence in Italy, France and
French Guiana with five plants employing about 760 people.
Its main clients include the European Space Agency (ESA).
In September 2016, Avio launched four satellites into space
for Google Maps.
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