Tue, Feb 06, 2018 - Page 11 News List

Leonardo to step up Asia sales under five-year plan

Reuters, SINGAPORE

Italian defense group Leonardo SpA aims to sell about 8.4 billion euros (US$10.49 billion) of products in Asia over the next five years as part of a business plan designed to boost exports, a senior executive said.

The state-backed conglomerate last week promised double-digit profit growth in its first business plan under chief executive Alessandro Profumo, but disappointed investors on shorter-term prospects, three months after a profit warning clubbed shares.

As part of the plan, Leonardo expects to sell 70 billion euros of products like helicopters and weapons systems over the next five years, a growth of about 6 percent a year, with 60 percent of sales to export markets.

Asia is forecast to account for 20 percent of export sales during that period, chief commercial officer Lorenzo Mariani said in a phone interview ahead of the start of the Singapore Airshow today.

“We are going to expand very quickly, opening new offices and facilities in Indonesia, Thailand, Australia and Bangladesh,” he said.

As the group shifts its focus toward foreign markets, Leonardo is due to almost double the number of international marketing offices and open logistics hubs offering customer support to its clients, particularly in key markets such as the Middle East and Asia.

Leonardo on Monday announced plans to set up a new helicopter maintenance center in Japan to service the fleet of more than 120 of its rotorcraft operating in the Asian nation.

This story has been viewed 1443 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top