Italy's Finmeccanica/Alenia Aerospazio and EADS' founding members have agreed to form a joint venture to unify their military aircraft and aerostructure businesses. The European Aeronautic Defense and Space Co. and Finmeccanica will own a 50% stake each in a joint subsidiary temporarily dubbed Joint Venture Co. (JVC). Italy's long-pondered decision to form an alliance with a major group nearly completes the European aerospace/defense industry's restructuring.
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