Finmeccanica agrees to sell Fata unit to Danieli

October 6, 2015 5:37 PM

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MILAN Oct 6 Italian defence group Finmeccanica has signed an agreement to sell its Fata unit to engineering group Danieli, the two companies said in separate statements on Tuesday, without disclosing the value of the deal.

Disposing of Fata, which designs industrial plants and employs around 200 people, making annual revenues of 150 million euros ($169 million), is part of Finmeccanica's strategy to focus on its core aerospace, defence and security businesses.

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