ROME - Italy's Finmeccanica industrial group on Nov. 5 signed a memorandum of understanding (MoU) with a Kazakhstan sovereign wealth fund to reach industrial cooperation deals covering helicopters, railways and electro-optics, including tank upgrades.
Kairat Kelimbetov, chairman of the Kazakh fund Samruk-Kazyna, signed the MOU with Finmeccanica CEO Pier Francesco Guarguaglini as Italian Prime Minister Silvio Berlusconi met Kazakh President Nursultan Nazarbayev here.
In a statement, Finmeccanica said the MOU covers "the possibility of setting up technological centers of excellence," and "the establishment of a working group to analyze Kazakhhstan's changing needs and the business opportunities for Finmeccanica Group companies."
As part of the deal, Finmeccanica unit Selex Galileo signed an electro-optics cooperation deal for civil and military applications with Kazakh firm KazEngineering. The agreement involves the use of Selex Galileo electro-optical systems to upgrade T-72 tanks for the Kazakh armed forces and for re-export.
The statement said plans were being evaluated for a joint venture between Finmeccanica unit AgustaWestland and Samruk-Kazyna to build a civil helicopter training and maintenance center, as well as a joint venture to build natural gas-powered buses in Kazakhhstan.
Guarguaglini and the head of Italy's public rail operator, Ferrovie dello Stato, also signed an MOU with the head of Kazakh firm Temir Zholy to develop the Kazakh rail sector.
Temir Zholy also signed a deal to create a joint venture with Finmeccanica rail unit Ansaldo STS to work on rail signaling, electrification systems and command-and-control centers for railway stations in Kazakhstan and neighboring countries.
Finmeccanica reported on Nov. 5 a net profit of 364 million euros ($537.6 million) for the first nine months of 2009, and confirmed its 2009 revenue target of 17.1 billion to 17.7 billion euros.
The Army's Future Combat Systems (FCS) program is ready to test a few components that soldiers may have in their hands by 2010.
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