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 by Staff Writers Milan (AFP) Dec 6, 2011
Italian aerospace and defence giant Finmeccanica has won a contract of up to $691 million (514 million euros) to equip US submarines, the company said on Tuesday. "Finmeccanica, through its company DRS Technologies Inc, received an award with a ceiling value of $691 million for a US navy submarine technology insertion hardware contract," it said in a statement. The five-year contract was awarded by Lockheed Martin. Finmeccanica has suffered heavy losses this year and its chairman Pier Francesco Guarguaglini was forced to step down this month following a series of corruption scandals.
Naval Warfare in the 21st Century
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