Leonardo’s board of directors has approved a plan for the company to absorb its unmanned aerial vehicle manufacturing Sistemi Dinamici subsidiary into the main business line of the firm.
Sistemi Dinamici develops, produces and sells UAVs, in particular the AWHero unmanned helicopter, and became a subsidiary of Leonardo in 2016 when it purchased the remaining shares of the company from IDS with which it held a joint venture to develop the UAV.
This merger is part of Leonardo’s ‘one company’ initiative that aims to achieve strategic and corporate optimisation of its aerospace, defence and security assets.
It brings about more efficiency and effectiveness in the operations across Leonardo’s industrial activities, and the AWHero development will be included in the company’s helicopters division if this plan goes ahead.
This plan will be presented to an extraordinary shareholders’ meeting, and the merger is expected to be effective for tax and accounting purposes from 1 January 2020.
Source: Press Release