Apart from a joint venture with the Tatas, the Italian defence and aerospace giant, Finmeccanica, at the centre of a military procurement bribery scandal in India, has six legal entities registered in this country.
None of these companies, including the joint venture with the Tatas to assemble helicopters in India, have started operations in a big way.
The entities are AgustaWestland India Pvt Ltd, WIN Bluewater Services Pte Ltd, Fata Hunter India Pvt Ltd, Asia Power Projects Pvt Ltd, Ansaldo STS Transportation Systems Pvt Ltd and defence and security electronics provider Selex Galileo India Pvt Ltd. The Italian company first started business with India in 1971, when it supplied 41 Sea King helicopters to the navy.
Of Finmeccanica’s India businesses, the joint venture with the Tatas and AgustaWestland was to assemble helicopters in Hyderabad. Apart from buying land at the GMR Special Economic Zone adjoining the airport, no work has begun on the ground. With the Italian partner at the centre of the corruption scandal, insiders say the project will be further delayed.
16/02/13 Business Standard
