MILAN (Reuters) - Europe’s defense sector is headed for consolidation and Italy’s Leonardo is open to deals in areas where it is not a market leader, the chief executive of the state-owned defense group said on Monday.
“I’m convinced that, over time, there will be mergers in Europe. As a ... company we need to know where and in which businesses to remain a leader and where to proceed with tie-ups,” Alessandro Profumo told a news conference.
He added that any deal would not involve Leonardo’s holding company. Profumo also said the group could be interested in the two maintenance divisions of Piaggio Aero.
Reporting by Elvira Pollina, writing by Valentina Za; Editing by Mark Bendeich