Finmeccanica seeks partner for DRS

(ANSA) - Milan, January 28 - Italian defence and aerospace giant Finmeccanica is seeking a partner to help "strengthen" its American defence subsidiary DRS Technologies, Chief Executive Officer Mauro Moretti said Wednesday.
    "(We must) find a way to strengthen the company, including through a partner, in order to start growth," Moretti said while presenting Finmeccanica's new business plan to financial analysts.
    The Italian company is finding with DRS that "there are difficulties in managing the company effectively in the US defence market if you are not a domestic player," said Moretti.
    Other measures Finmeccanica intends to take to shore up DRS include selling "non-core" assets.
    Meanwhile, Moretti is also said to be in talks with Japan's Hitachi and China's Insigma as he continues efforts to sell Finmeccanica's unprofitable AnsaldoBreda unit, which produces trains, and its stake in Ansaldo STS, which produces railway signaling equipment.
    "There are no more sacred cows," Moretti said as he outlined measures to save up to 150 million euros by 2019 through increased efficiency That is part of the company's new industrial plan aimed at "strengthening the core business, high-technology, aerospace, defence, and security," he said.
    Shortly before closing Wednesday on the Milan financial market, Finmeccanica shares were trading up 2.49% at 9.25 euros.