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Finmeccanica and Kazakhstan sign Memorandum of Understanding

5 November 2009 - Kairat Kelimbetov, the Chairman of the Sovereign Wealth Fund Samruk-Kazyna, and Pier Francesco Guarguaglini, Chairman and CEO of Finmeccanica, have signed a Memorandum of Understanding (MoU) to conclude industrial co-operation agreements with Finmeccanica Group companies in the rail, electro-optics and helicopter sectors. This MoU was announced today in Rome in the presence of Italian Prime Minister Silvio Berlusconi and the President of Kazakhstan Nursultan Nazarbayev. The agreement includes the possibility of setting up technological centres of excellence.

One specific provision of the MoU between Finmeccanica and Sovereign Wealth Fund Samruk-Kazyna (an industrial and financial state holding company) is the establishment of a working group to analyse Kazakhstan’s changing needs and the business opportunities for Finmeccanica Group companies.

Specifically with regard to the rail sector, Askar Mamin, the Chairman of Temir Zholy, Pier Francesco Guarguaglini, Finmeccanica Chairman and CEO, and Mauro Moretti, CEO of the Italian rail operator Ferrovie dello Stato, signed an MoU for wide-ranging co-operation in the development of the Kazakh rail sector.

Additionally, Temir Zholy and Ansaldo STS signed a joint venture agreement on rail signalling, electrification systems and the establishment of command and control centres for railway stations in Kazakhstan and neighbouring countries.

In the field of electro-optics, KazEngineering and SELEX Galileo signed a co-operation agreement for the development of civil and military applications. The agreement also foresees the use of SELEX Galileo electro-optics systems to upgrade the T72 tank for use by the Kazakh Armed Forces and for foreign markets.

Moreover, plans for a joint venture between AgustaWestland and the Sovereign Wealth Fund Samruk-Kazyna to build a civil helicopter training and maintenance centre, as well as a joint venture to assemble natural gas-powered buses made by BredaMenarinibus (a Finmeccanica company) in Kazakhstan, are currently being evaluated.

For further information, please contact Andrew Taylor.