Italian aerospace and defense company Leonardo (LDOF.MI) continues discussions to finalize its planned partnerships and joint ventures with other European companies, despite the industry’s challenges in competing with non-European counterparts, its CEO said on Monday.
CEO Roberto Cingolani, speaking at an event in Florence, mentioned that talks with Airbus (AIR.PA) and Thales (TCFP.PA) are “moving forward.” In July, Leonardo confirmed it was in negotiations with these French companies to explore alliances and synergies aimed at strengthening Europe’s presence in the space sector.
Regarding a joint venture with Germany’s Rheinmetall (RHMG.DE), Cingolani said technical teams are working weekly on the project. He added, “Everything seems to be progressing well so far, and I believe we should be able to finalize it soon.”
In July, the two companies agreed to form a joint venture to manufacture tanks and other land defense systems, with completion expected by September.
The European Union has been pushing for a more assertive space strategy to ensure Europe remains competitive against the advancements of U.S. and Chinese launcher technologies.
Leonardo’s new strategy framework is expected to be completed by the end of this month, as stated by Cingolani in July.
According to him, the corporation is “slightly ahead of schedule” in developing a plan for its upcoming space division. This was stated on Monday. “The plan is ready, a group including external advisors is working to include it in the updated business plan.”
Leonardo is in charge of propulsion and launch systems, satellite services, and the manufacturing of satellites, sensors, and orbiting infrastructure.
