The board of aerospace and defense firm Finmeccanica has approved plans for a new organizational and operating model in a bid to return the company to profitability. The company, which is saddled with large debt and low credit ratings, says it is planning a wholesale change similar to the re-formation undertaken by EADS — which renamed itself as Airbus Group at the beginning of this year — and will focus its transformation efforts on the aerospace, defense and space sectors of the ...

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