Italy's Finmeccanica eyes U.S. expansion

By Andrea Shalal-Esa

WASHINGTON (Reuters) - Italy's aircraft and defense company Finmeccanica SpA SIFI.MI said on Wednesday it wants to continue expanding in the U.S. defense market after scoring a huge win last year when its US101 helicopter was chosen to transport the U.S. president.

"Our intention is to enlarge our presence in the United States," Chief Executive Officer Pier Francesco Guarguaglini told the Reuters Aerospace and Defense Summit in Washington, D.C.

He said the company already had plants in Texas, Pennsylvania and South Carolina, and hoped to expand in coming years through more contract awards, partnerships with U.S. companies and targeted acquisitions.

Guarguaglini said the U.S. Navy's decision in 2005 to pick Lockheed Martin Corp. (LMT.N: Quote, Profile, Research, Stock Buzz) and his AgustaWestland unit to build the next presidential helicopter helped "open the door" for future deals. Analysts value that deal at $13 billion.

He said Finmeccanica had "a large chance" in another high-stakes competition to build 145 new light cargo planes for the U.S. Army and Air Force, a deal valued at some $7 billion.

That competition, to be decided in February or March, pits Finmeccanica's Alenia Aeronautica, teamed with prime contractor L-3 Communications Holdings Inc. (LLL.N: Quote, Profile, Research, Stock Buzz), against a team comprised of Raytheon Co. (RTN.N: Quote, Profile, Research, Stock Buzz) and Europe's EADS (EAD.PA: Quote, Profile, Research, Stock Buzz).

Both teams are offering European-designed aircraft.

Lockheed Martin Corp.'s (LMT.N: Quote, Profile, Research, Stock Buzz) C-130J was eliminated from the running, and Lockheed's protest was recently denied.  Continued...