Endesa, S. A. is the largest electric utility company in Spain. The firm, a majority-owned subsidiary of the Italian utility company Enel, has 10 million customers in Spain, with domestic annual generation of over 97,600 GWh from nuclear, fossil-fueled and renewable resource power plants. Internationally, it provides over 80,100 GWh annually. Total customers numbered 22.2 million as of December 31, 2004. It markets energy in Europe; the company has additional interests in Spanish natural telecommunications companies. The company was formed in 1944 as Empresa Nacional de Electricidad, S. A. and changed its name to Endesa, S. A. in 1997. In September 2004, it took control of the French company SNET; this was followed by the downsizing of 30% of SNET's employees. In September 2005, Barcelona-based Gas Natural made a bid for Endesa, whose board unanimously rejected a €23 billion offer. On January 5, 2006, the Tribunal de Defensa de la Competencia blocked the merger of Gas Natural and Endesa because of what it claimed would be irreversible negative impacts on competition.
For most of 2006 and 2007, Endesa was the target of rival takeover bids by Germany's E. On and the Italian firm Enel. Despite Gas Natural being half the size of Endesa, its bid was championed by the then-Socialist government as an all-Spanish deal, but Gas Natural decided to withdraw its bid after the German firm E. On offered a higher bid for the company; the opposition People's Party of the day, some Madrid politicians, criticised the bid, alleging political interference by the Socialists and a Catalan nationalist plot to control energy supply respectively. On 2 February 2007, E. On offered €38.75 for each share of Endesa. The German firm withdrew its bid two months in exchange for a promise from rival bidders to sell it part of the Spanish utility's assets. SNET, Endesa Italia and Enel's Viesgo were amongst the business units sold off to E. On. Acciona and Enel succeeded in their joint bid to acquire Endesa in October 2007 for an estimated €42.5 billion and they announced that month that they jointly held 92.06% of Endesa's share capital as a result of their 100% takeover bid launched on Endesa, with the remaining 7.94% being free float.
The two companies jointly managed Endesa through an Acciona-controlled holding company which held 50.01% of Endesa's share capital, but in February 2009 Enel agreed to buy out Acciona's stake, taking its total ownership to over 92%. Some Endesa assets will be sold off to Acciona as part of the deal; as of September 2015, ENEL owned 70.1% of Endesa's share capital. The group produced in 2008 globally 55 tonnes high radioactive waste and 54.200 kTon CO2. Its electricity came with 420 μg/kWh nuclear 352 grammes of CO2 per kWh. In Europe, Endesa is the only Spanish company involved in the ELVIRE and G4V consortia aimed at developing the necessary technology and services to enable ongoing interaction between drivers, their power suppliers and the smart grid; the Chairman of Endesa, Borja Prado, together with the mayor of Madrid, Alberto Ruiz Gallardón, the Chairman of Telefónica, César Alierta, have the phone booth in Madrid which can be used for recharging electric vehicles. Reserved parking spaces will be located next to this and all other booths set up in Metropolitan areas where users will be able to park their EVs and recharge at no cost once they have obtained their free "zero emissions" pre-paid card from the Madrid city council.
Endesa Termic located in As pontes de García Rodríguez in the outskirts of Ferrol has one of the tallest chimneys in Europe built in 1974. Enel Endesa Official website biz.yahoo.com Profile Yahoo! finance.yahoo.com Profile
Waste-to-energy or energy-from-waste is the process of generating energy in the form of electricity and/or heat from the primary treatment of waste, or the processing of waste into a fuel source. WtE is a form of energy recovery. Most WtE processes generate electricity and/or heat directly through combustion, or produce a combustible fuel commodity, such as methane, ethanol or synthetic fuels; the first incinerator or "Destructor" was built in Nottingham UK in 1874 by Manlove, Alliott & Co. Ltd. to the design of Alfred Fryer. The first US incinerator was built in 1885 on Governors Island in New York; the first waste incinerator in Denmark was built in 1903 in FrederiksbergThe first facility in the Czech Republic was built in 1905 in Brno. Gasification and pyrolysis processes have been known and used for centuries and for coal as early as the 18th century.... Development technologies for processing has only become a focus of attention in recent years stimulated by the search for more efficient energy recovery.
Incineration, the combustion of organic material such as waste with energy recovery, is the most common WtE implementation. All new WtE plants in OECD countries incinerating waste must meet strict emission standards, including those on nitrogen oxides, sulphur dioxide, heavy metals and dioxins. Hence, modern incineration plants are vastly different from old types, some of which neither recovered energy nor materials. Modern incinerators reduce the volume of the original waste by 95-96 percent, depending upon composition and degree of recovery of materials such as metals from the ash for recycling. Incinerators may emit fine particulate, heavy metals, trace dioxin and acid gas though these emissions are low from modern incinerators. Other concerns include proper management of residues: toxic fly ash, which must be handled in hazardous waste disposal installation as well as incinerator bottom ash, which must be reused properly. Critics argue that incinerators destroy valuable resources and they may reduce incentives for recycling.
The question, however, is an open one, as European countries which recycle the most incinerate to avoid landfilling. Incinerators have electric efficiencies of 14-28%. In order to avoid losing the rest of the energy, it can be used for e.g. district heating. The total efficiencies of cogeneration incinerators are higher than 80%; the method of incineration to convert municipal solid waste is a old method of WtE generation. Incineration entails burning waste to boil water which powers steam generators that generate electric energy and heat to be used in homes, businesses and industries. One problem associated is the potential for pollutants to enter the atmosphere with the flue gases from the boiler; these pollutants can be acidic and in the 1980s were reported to cause environmental degradation by turning rain into acid rain. Since the industry has removed this problem by the use of lime scrubbers and electro-static precipitators on smokestacks. By passing the smoke through the basic lime scrubbers, any acids that might be in the smoke are neutralized which prevents the acid from reaching the atmosphere and hurting the environment.
Many other devices, such as fabric filters and catalysts destroy or capture other regulated pollutants. According to the New York Times, modern incineration plants are so clean that "many times more dioxin is now released from home fireplaces and backyard barbecues than from incineration. " According to the German Environmental Ministry, "because of stringent regulations, waste incineration plants are no longer significant in terms of emissions of dioxins and heavy metals". There are a number of other new and emerging technologies that are able to produce energy from waste and other fuels without direct combustion. Many of these technologies have the potential to produce more electric power from the same amount of fuel than would be possible by direct combustion; this is due to the separation of corrosive components from the converted fuel, thereby allowing higher combustion temperatures in e.g. boilers, gas turbines, internal combustion engines, fuel cells. Some are able to efficiently convert the energy into liquid or gaseous fuels: Thermal technologies: Gasification: produces combustible gas, synthetic fuels Thermal depolymerization: produces synthetic crude oil, which can be further refined Pyrolysis: produces combustible tar/biooil and chars Plasma arc gasification or plasma gasification process: produces rich syngas including hydrogen and carbon monoxide usable for fuel cells or generating electricity to drive the plasma arch, usable vitrified silicate and metal ingots and sulphur Non-thermal technologies: Anaerobic digestion: Biogas rich in methane Fermentation production: examples are ethanol, lactic acid, hydrogen Mechanical biological treatment MBT + Anaerobic digestion MBT to Refuse derived fuel During the 2001–2007 period, the waste-to-energy capacity increased by about four million metric tons per year.
Japan and China each built several plants based on direct smelting or on fluidized bed combustion of solid waste. In China there are about 434 waste-to-energy plants in early 2016. Japan is the largest user in thermal treatment of municipal solid waste in the world, with 40 million tons; some of the newest plants use stoker technology and others use the advanced oxygen enrichment technology. Several treatment plants exist worldwide using novel processes such as direct smelting, the Ebara fluidization process and t
Waste management are the activities and actions required to manage waste from its inception to its final disposal. This includes the collection, transport and disposal of waste, together with monitoring and regulation of the waste management process. Waste can be solid, liquid, or gaseous and each type has different methods of disposal and management. Waste management deals with all types of waste, including industrial and household. In some cases waste can pose a threat to human health. Waste is produced by for example the extraction and processing of raw materials. Waste management is intended to reduce adverse effects of waste on human health, the environment or aesthetics. Waste management practices are not uniform among countries. A large portion of waste management practices deal with municipal solid waste, the bulk of the waste, created by household and commercial activity; the waste hierarchy refers to the "3 Rs" reduce and recycle, which classifies waste management strategies according to their desirability in terms of waste minimisation.
The waste hierarchy is the cornerstone of most waste minimisation strategies. The aim of the waste hierarchy is to extract the maximum practical benefits from products and to generate the minimum amount of end waste; the waste hierarchy is represented as a pyramid because the basic premise is that policies should promote measures to prevent the generation of waste. The next step or preferred action is to seek alternative uses for the waste, generated i.e. by re-use. The next is recycling. Following this step is material recovery and waste-to-energy; the final action is disposal, through incineration without energy recovery. This last step is the final resort for waste which has not been diverted or recovered; the waste hierarchy represents the progression of a product or material through the sequential stages of the pyramid of waste management. The hierarchy represents the latter parts of the life-cycle for each product; the life-cycle begins with design proceeds through manufacture and primary use and follows through the waste hierarchy's stages of reduce and recycle.
Each stage in the life-cycle offers opportunities for policy intervention, to rethink the need for the product, to redesign to minimize waste potential, to extend its use. Product life-cycle analysis is a way to optimize the use of the world's limited resources by avoiding the unnecessary generation of waste. Resource efficiency reflects the understanding that global economic growth and development can not be sustained at current production and consumption patterns. Globally, humanity extracts more resources to produce goods. Resource efficiency is the reduction of the environmental impact from the production and consumption of these goods, from final raw material extraction to last use and disposal; the polluter-pays principle mandates that the polluting party pays for the impact on the environment. With respect to waste management, this refers to the requirement for a waste generator to pay for appropriate disposal of the unrecoverable material. Throughout most of history, the amount of waste generated by humans was insignificant due to low population density and low societal levels of the exploitation of natural resources as well as industrial since few decades.
Common waste produced during pre-modern times was ashes and human biodegradable waste, these were released back into the ground locally, with minimum environmental impact. Tools made out of wood or metal were reused or passed down through the generations. However, some civilizations do seem to have been more profligate in their waste output than others. In particular, the Maya of Central America had a fixed monthly ritual, in which the people of the village would gather together and burn their rubbish in large dumps. Following the onset of industrialisation and the sustained urban growth of large population centres in England, the buildup of waste in the cities caused a rapid deterioration in levels of sanitation and the general quality of urban life; the streets became choked with filth due to the lack of waste clearance regulations. Calls for the establishment of a municipal authority with waste removal powers occurred as early as 1751, when Corbyn Morris in London proposed that "... as the preservation of the health of the people is of great importance, it is proposed that the cleaning of this city, should be put under one uniform public management, all the filth be...conveyed by the Thames to proper distance in the country".
However, it was not until the mid-19th century, spurred by devastating cholera outbreaks and the emergence of a public health debate that the first legislation on the issue emerged. Influential in this new focus was the report The Sanitary Condition of the Labouring Population in 1842 of the social reformer, Edwin Chadwick, in which he argued for the importance of adequate waste removal and management facilities to improve the health and wellbeing of the city's population. In the UK, the Nuisance Removal and Disease Prevention Act of 1846 began what was to be a evolving process of the provision of regulated waste management in London; the Metropolitan Board of Works was the first citywide authority that centralized sanitation regulation for the expanding city and the Public Health Act 1875 made it compulsory for every household to deposit their weekly waste in "moveable receptacles: for disposal—the first concept for a dust-bin. The dram
Assicurazioni Generali S.p. A. or Generali is an Italian insurance company, the largest in Italy and third in the world. It has its headquarters in Trieste. In 2010, Assicurazioni Generali Group was the second largest insurance group in the world by revenue after AXA. Under the name of Imperial Regia Privilegiata Compagnia di Assicurazioni Generali Austro-Italiche, the company was founded on December 26, 1831. At the time, Trieste was the most important sea port of the Austrian Empire; the company grew in importance, becoming one of the largest insurance operators both in Italy and in Central Europe. As of 2017, the company ranks 57th on the Fortune Global 500 list of companies and 43rd on MITs worldwide "Smartest Companies" ranking in 2015. Today Generali operates in Europe, Middle East and East Asia, with large market shares in Italy, Hungary, France, Slovenia, The Netherlands, Serbia, Switzerland, Israel, Japan and Bosnia and Herzegovina, with secondary operations in Latin America. Generali's United States operations are concentrated in financial products management, a result of the group's acquisition of Business Men's Assurance Company of America in 1990 and travel insurance products as part of the Europ Assistance Group.
In 2002, Generali sold BMA's life insurance arm to the Royal Bank of Canada. In 2013, Generali sold its US reinsurance arm to Scor. On Jerusalem's Jaffa Road, the Generali Building, built by the company in 1935, is still known by that name although the company operated its Jerusalem branch in the building only from 1935 to 1946; the Generali Building is still owned by the Italian insurance firm through its local representative, the Migdal Insurance Company. The building houses various government offices, including the Jerusalem District Administration, the Ministry of Interior, the Department of Immigration and Population Registry, the Internal Auditing Office, it is a famous Jerusalem landmark, due to the large and well-preserved stone statue of a winged lion on its roof. In India the company is represented by Future Generali, a joint venture of Future group and Assicurazioni Generali, it provides both property/casualty insurance. The Life business is known as Future Generali India Life Insurance Company Limited.
Main Subsidiaries of the group includes, in Italy: Genertellife, Alleanza Assicurazioni, Generali Italia and Banca Generali. In France: Europ Assistance Assicurazioni Generali was an active owner of Italian banks, such as Banca Intesa and Banca Nazionale del Lavoro as minority owner. Both banks are no longer held by Generali Group. Banca Generali is the subsidiary of Assicurazioni Generali; as of June 2016, Assicurazioni Generali's largest shareholders were: 13.46% Mediobanca S.p. A. 3.00% Caltagirone 2.01% Government of People's Republic of China 2.00% Leonardo Del Vecchio 1.60% The Vanguard Group, Inc. 0.95% Norges Bank Investment Management 0.93% BlackRock Institutional Trust Company, N. A. 0.76% BlackRock Advisors Limited 0.62% Lyxor Asset Management 0.44% Amundi Asset Management 0.37% BlackRock Asset Management Deutschland AG 0.34% JPMorgan Asset Management U. K. Limited 0.30% NNIP Advisors B. V. 0.29% Franklin Mutual Advisers, LLC 0.27% Fideuram Investimenti SGR S.p. A. 0.23% TIAA Global Asset Management 0.21% Rothschild & Cie Banque Gestion Franz Kafka worked for nearly nine months at the Assicurazioni Generali office in Prague.
Generali is the sponsor of France National Volleyball Team. Generali sponsor of the French Federation of Volleyball for 19 years, launched the Responsible Sports Charter in 2010, coherently with the Group guidelines, to promote the culture of sustainability in the sporting arena. After nearly 10 years of struggling to get a big Italian insurance company to pay claims on life insurance policies sold to victims of the Holocaust, the lawyers for most of the victims are giving up the fight. Sidney Zabludoff, a Holocaust insurance expert, estimates that Generali had coverage on about 110,000 Jews at the time, he estimates this be worth $4.5 billion today. In court papers, Generali says. Blood Money - Law & Order Episode is based on Generali subsidiaries selling life insurance to poor Jews in WW2 Europe and not paying out in case of death; the motive in the murder of a retired insurance salesman appears to be a series of policies he sold to Jews in Poland during the Holocaust. Official website
STMicroelectronics is a French-Italian multinational electronics and semiconductor manufacturer headquartered in Geneva, Switzerland. It is called ST, it is Europe's largest semiconductor chip maker based on revenue. While STMicroelectronics corporate headquarters and the headquarters for EMEA region are based in Geneva, the holding company, STMicroelectronics N. V. is registered in Netherlands. The company's US headquarters is in Texas. Headquarters for the Asia-Pacific region is in Singapore whilst Japan and Korea operations are headquartered in Tokyo; the company headquarters for the Greater China region is in Shanghai. ST was formed in 1987 by the merger of two government-owned semiconductor companies: SGS Microelettronica of Italy and Thomson Semiconducteurs, the semiconductor arm of France's Thomson: SGS Microelettronica originated in 1972 from a previous merger of two companies: ATES, a vacuum tube and semiconductor maker headquartered in the Abruzzese city of l'Aquila, which in 1961 changed its name to Azienda Tecnica ed Elettronica del Sud and relocated its manufacturing plant to the outskirts of the Sicilian city of Catania Società Generale Semiconduttori.
Thomson Semiconducteurs was created in 1982 by the French government's widespread nationalisation of industries. It included: the semiconductor activities of the French electronics company Thomson. In 1985 it bought Mostek, a US company founded in 1969 as a spin-off of Texas Instruments, from UTC. Silec, founded in 1977. Eurotechnique founded in 1979 in Rousset, Bouches-du-Rhône as a joint-venture between Saint-Gobain of France and US-based National Semiconductor. EFCIS, founded in 1977. SESCOSEM, founded in 1969. At the time of the merger the company was named SGS-THOMSON but took its current name in May 1998 following Thomson’s sale of its shares. After its creation ST was ranked 14th among the top 20 semiconductor suppliers with sales of around US$850 million; the company has participated in the consolidation of the semiconductor industry since its formation, with acquisitions including: In 1989, British company Inmos known for its transputer microprocessors from parent Thorn EMI. In 1994, Canada-based Nortel's semiconductor activities.
In 2002, Alcatel's Microelectronics division, which along with the incorporation of smaller ventures such as UK company, Synad Ltd, helped the company expand into the Wireless-LAN market. In 2007, US-based Genesis Microchip. Genesis Microchip is known for their strength in video processing technology and has design centres located in Santa Clara, Taipei City, Taiwan R. O. C. and Bangalore. On December 8, 1994, the company completed its initial public offering on the Paris and New York stock exchanges. Owner Thomson SA sold its stake in the company in 1998 when the company listed on the Borsa Italiana in Milan. In 2002, Motorola and TSMC joined Philips in a new technology partnership; the Crolles2 Alliance was created with a new 12" wafer manufacturing facility located in Crolles. By 2005, ST was ranked fifth, behind Intel, Texas Instruments and Toshiba, but ahead of Infineon, Renesas, NEC, NXP, Freescale; the company was the largest European semiconductors supplier, ahead of Infineon and NXP. Early in 2007, NXP and Freescale decided to stop their participation in Crolles2 Alliance.
Under the terms of the agreement the Alliance came to an end on December 31, 2007. On May 22, 2007, ST and Intel created; this new company merged Intel Flash Memory activities. Semiconductor market consolidation continued with ST and NXP announcing on April 10, 2008, the creation of a new joint venture of their mobile activities, with ST owning 80% of the new company and NXP 20%; this joint venture began on August 20, 2008. On February 10, 2009, ST Ericsson, a joint venture bringing together ST-NXP Wireless and Ericsson Mobile Platforms, was established. In 2011, ST announced the creation of a joint lab with Sant'Anna School of Advanced Studies; the lab will focus on innovation in bio-robotics, smart systems and microelectronics. Past collaborations with Sant'Anna School of Advanced Studies included DustBot, a platform that integrated self-navigating "service robots" for waste collection. ST Ericsson was a multinational manufacturer of wireless products and semiconductors, supplying to mobile device manufacturers.
ST-Ericsson was a 50/50 joint venture of Ericsson and STMicroelectronics established on February 3, 2009, dissolved on August 2, 2013. Headquartered in Geneva, Switzerland, it was a fabless company, outsourcing semiconductor manufacturing to foundry companies; as of December 31, 2014, the shareholders were: 68.4% public 4.1% treasury shares 27.6% STMicroelectronics Holding B. V. 50% FT1CI 50% Ministero dell'Economia e delle Finanze of Italy Following an earlier failure, STMicroelectronics has stayed out of the volatile markets for DRAM and PC microprocessors. In 1994, it attempted to launch compatible Intel 80486 microprocessors in partnership with American company Cyrix. Only model one was completed, the 1995 Cyrix M1 microprocessor, intended to compete with Intel's Pentium family, it did achieve some success, however, in the PC-compatible x86 embedded systems market with its STPC SoC line, culminating in the 486-class STPC Atlas, which reached end-of-life in 2008. Unlike so-called fabless semiconducto
Intesa Sanpaolo S.p. A. is an Italian banking group resulting from the merger of Banca Intesa and Sanpaolo IMI based in Torre Intesa Sanpaolo, Italy. In 2014 it was the largest banking group in Italy by market capitalization, second by total assets; the bank has experienced growth in the international market, focused in Central-Eastern Europe, the Middle East and North Africa. When it was formed in 2007 it overtook Unicredit Group as the largest bank in Italy with 13 million customers and US$690 billion worth of assets. By 2010 its assets had grown to US$877.66 billion, ranking 26th in Forbes Global 2000. The company is a component of the Euro Stoxx 50 stock market index. In August 2018, Intesa Sanpaolo launched. Banca Intesa and Sanpaolo IMI, the two banks that merged in 2007 to create Intesa Sanpaolo, were themselves the product of many mergers. Cariplo and Banco Ambrosiano Veneto merged in 1998 to form Banca Intesa; the following year Banca Commerciale Italiana joined the group. Sanpaolo IMI was born in 1998 following the merger of Istituto Bancario San Paolo di Torino, which specialized in retail banking, IMI, an investment bank.
The oldest part of the banking group is Cariplo Sp. A.. which traces its roots to Austrian Empire household savings bank Cassa di Risparmio delle Provincie Lombarde, established in 1823 in Milan. The cassa di risparmio was started by an Italian philanthropic group, the Central Committee of Charity. In the early 20th century the bank helped Italian companies in the North obtain capital during and after World Wars 1 and 2, chiefly under the guidance of Giordano Dell'Amore. Banking reforms in 1990 started by Giuliano Amato led to the restructuring/reorganization of banks by forcing the government to relinquish control of them. Cariplo SpA was formed in 1991 when Cassa di Risparmio delle Provincie Lombarde merged with its subsidiary IBI. Banco Ambrosiano Veneto originated with Nuovo Banco Ambrosiano and Banca Cattolica del Veneto which merged in 1989; the bank increased in size during the 1990s due to numerous acquisitions. Banca Commerciale Italiana started in 1894 as a corporate loans lender operating in the commercial industry of Northern Italy.
In 1994 Mediobanca purchased an interest in BCI. BCI tried to acquire Banco Ambrosiano Veneto the same year but was spurned by shareholders who wouldn't accept the US$1.13 billion offer. In 1999 Italy's largest bank Unicredit Group at the time, attempted a hostile takeover of BCI but failed due to Mediobanca's interest in the company BCI merged with the former Banca Ambrosiano and Cariplo in 1998 to form a financial institution renamed Banca Intesa in 2003. Sanpaolo IMI was formed in 1998 when Istituto Bancario San Paolo di Torino and Istituto Mobiliare Italiano merged, in a US 37.8 billion dollar deal. In January 2007, Banca Intesa and Sanpaolo IMI, two of the three largest bank of Italy merged; as part of the authorization of the merger, the Italian Competition Authority forbid Intesa Sanpaolo to open any new branches for two years in the provinces of Udine and Gorizia, provinces of Rovigo and Padua, Aosta Valley, provinces of Biella and Alessandria, Province of Bolzano, Province of Bologna, Province of Pavia, Province of Naples, Province of Imperia, provinces of Sassari and Cagliari, Province of Rieti, province of Terni, Province of Pesaro-Urbino, Province of Pescara and Province of Catanzaro.
The French banking group Crédit Agricole started to spin off from Intesa Sanpaolo, by acquiring Cariparma, FriulAdria in 2007 and Carispezia in 2011, as well as branches from Intesa Sanpaolo. In 2012, Crédit Agricole sold all the shares of Intesa Sanpaolo. In December 2007, Cassa di Risparmio di Biella e Vercelli was sold to Banca Monte dei Paschi di Siena for €399 million. In 2008, Intesa Sanpaolo acquired Banca CR Firenze. In December 2008, Cassa di Risparmio di Fano was sold to Credito Valtellinese. In 2009, group acquisitions included a 30% interest in business info company MF Honyvem, an increased stake in Alitalia – Compagnia Aerea Italiana up to 33.3% Even though the bank was rumoured to have been working with the government to keep Air France from acquiring a stake in Alitalia, Air France acquired 25%. Alitalia – Compagnia Aerea Italiana sold part of its stake in the airline to Etihad Airways in 2015. From 2012 to 2013, Intesa Sanpaolo write down the value of investment in Banca delle Marche for a total of €90 million, as well as €26 million for a minority stake in Cassa di Risparmio della Provincia di Chieti in 2014.
The shareholders of the banks was bail-in in the rescue plan in 2015. In 2014, Cassa di Risparmio di Venezia and Banca di Credito Sardo were absorbed into Intesa Sanpaolo; the 2014–17 business plan of the bank stated that the banking group would simplified their legal structure. In 2015, local banks Banca Monte Parma, Banca di Trento e Bolzano, Cassa di Risparmio di Civitavecchia, Cassa di Risparmio di Rieti and Cassa d
Leonardo S.p. A. Leonardo-Finmeccanica and Finmeccanica, is an Italian global high-tech multinational company and one of the key players in aerospace and security. Headquartered in Rome, the company has 180 sites worldwide, it is the ninth largest defence contractor in the world based on 2016 revenues. The company is owned by the Italian government through the Ministry of Economy and Finance, which holds 30.2% of the company's shares and is its largest shareholder. On 1 January 2016, Leonardo-Finmeccanica became a single industrial company by integrating the activities of its subsidiaries AgustaWestland, Alenia Aermacchi, DRS Technologies, Selex ES, Oto Melara and WASS; the company is organised into five divisions and is the parent company and corporate centre for the subsidiaries and joint ventures, Thales Alenia Space, MBDA and ATR. Leonardo is listed on the Borsa Italiana and is a constituent of the FTSE MIB and Dow Jones Sustainability Indices; as of April 2016, the company was known by the transitional name of Leonardo-Finmeccanica as part of the restructuring process of the company carried out by CEO Mauro Moretti from the beginning of his mandate in 2014.
The company changed its name to Leonardo S.p. A. on 1 January 2017, after the Italian inventor Leonardo da Vinci. The company was established in 1948 as the mechanical engineering subholding of the state-owned IRI. Finmeccanica has held for years such historic Italian enterprises, as Alfa Romeo and Ansaldo. From the 1960s to the 1980s Italy's defence and aerospace industry was split into state-holding entities: EFIM owned the helicopters manufacturer Agusta, the defence company Oto Melara and the electronic enterprise Officine Galileo, whereas STET held Selenia, Elsag and SGS Thomson, all electronic enterprises with specializations in security and defense. In 1989 an internal IRI reorganization process brought STET electronic enterprises to Finmeccanica, the Aeritalia-Selenia merger constituted its aerospace subsidiary Alenia. In 1992 EFIM was wound up because of its troubled financial situation. Finmeccanica, fully state owned by IRI, became privatized in 1993, when it was listed in the Milan Borsa Italiana stock exchange.
In 1992 Finmeccanica's Agusta became a 32% partner in NHIndustries, the prime contractor for the NH90 helicopter, along with Eurocopter and Fokker. In July 2000 Finmeccanica and the British GKN agreed to merge their respective helicopter subsidiaries to form AgustaWestland. In December 2001 the missile business of Alenia Marconi Systems, a joint Finmeccanica/BAE Systems company, was merged with other European missile manufacturers to form MBDA which thus became the world's second largest missile manufacturer. In July 2003 Finmeccanica and BAE Systems announced their intention to set up three joint venture companies, to be collectively known as Eurosystems; these companies would have pooled the avionics, C4ISTAR and communications businesses of the two companies. In March 2007 BAE Systems sold its 25% share to Finmeccanica for €400 million. In January 2013 the company merged with Finmeccanica's other defence electronics companies, SELEX Elsag and SELEX Sistemi Integrati, to become Selex ES. In May 2008 Finmeccanica announced its intention to purchase the U.
S. defense contractor DRS Technologies for nearly $5.2 billion. On 22 October 2008 the sale of DRS Technologies was finalized. During 2011–2013, Finmeccanica emails were published by WikiLeaks and Finmeccanica was subject to judicial inquiries on several fronts and management changes. According to Finmeccanica emails published in the Syria Files release by WikiLeaks on 5 July 2012, Finmeccanica increased its sale of mobile communications equipment to Syrian authorities during 2011, delivering 500 of these to the Damascus suburb Muadamia in May 2011, after the Syrian uprising had started, sending engineers to Damascus in February 2012 to provide training in using the communications equipment in helicopter terminals, while the uprising continued. Finmeccanica stated that the equipment sales were legal, they occurred "before the outbreak of conflict inside Syria", the equipment "was designed for use by emergency responders" for civilian use only. On 12 February 2013, Giuseppe Orsi, was arrested on corruption charges.
Prosecutors alleged that he paid bribes to ensure the sale of 12 helicopters to the Indian government, when he was head of the group's AgustaWestland unit. In July 2013, the Letta government appointed former police chief Giovanni De Gennaro as Chairman of Finmeccanica. In December 2013 Finmeccanica sold 39.55% of its share capital in Ansaldo Energia to Fondo Strategico Italiano. The remaining 15% of Finmeccanica's share will be sold by December 31, 2017. In the first half of 2014, Finmeccanica's new Chief Executive Officer and General Manager Mauro Moretti started a process of profound change for the Group, both in terms of strategic choices and organizational structure; the goal was to create a more cohesive and efficient group in which all processes are centralized and integrated and can interact more effectively. This encompasses the 100% owned companies of the core aerospace and defence business being transformed into seven new Finmeccanica divisions; the current holding company will become an operating company based on seven major business areas, mainta