ROME -(Dow Jones)- Italy will scale back planned purchases of the F-35 joint strike fighter as well as frigates, Corriere della Sera reports Friday, without saying where it obtained the information.
In a detailed article, the Milan-based daily said Italy would reduce its planned EUR15 billion purchase of 131 F-35 fighter bombers, made by Lockheed Martin Corp. (LMT), to 100 or at most 110.
Defense Minister Giampaolo di Paola last month in a television interview defended the procurement program but said there might be some cuts as Italy slashes public spending to balance its budget by 2013. The U.K. Defense Ministry is postponing its final decision on how many F-35 planes to buy.
Italy'sFinmeccanica SpA (FNC.MI) has key roles in both the F-35 and the Eurofighter, a rival project that Corriere said may not proceed.
Italy will also reduce to six from 10 its order of FREMM-class frigates, which are to be made by Italian and French shipmakers.
Italy is also planning to slash the number of personnel in its armed forces by around 40,000, Corriere says. The cuts would focus on mid-ranking officers rather than soldiers, the paper adds.
A defense ministry spokesman said no decision has been taken on any of the measures the paper reported.
Original Article
Source: nasdaq
Author: Rome Bureau
In a detailed article, the Milan-based daily said Italy would reduce its planned EUR15 billion purchase of 131 F-35 fighter bombers, made by Lockheed Martin Corp. (LMT), to 100 or at most 110.
Defense Minister Giampaolo di Paola last month in a television interview defended the procurement program but said there might be some cuts as Italy slashes public spending to balance its budget by 2013. The U.K. Defense Ministry is postponing its final decision on how many F-35 planes to buy.
Italy'sFinmeccanica SpA (FNC.MI) has key roles in both the F-35 and the Eurofighter, a rival project that Corriere said may not proceed.
Italy will also reduce to six from 10 its order of FREMM-class frigates, which are to be made by Italian and French shipmakers.
Italy is also planning to slash the number of personnel in its armed forces by around 40,000, Corriere says. The cuts would focus on mid-ranking officers rather than soldiers, the paper adds.
A defense ministry spokesman said no decision has been taken on any of the measures the paper reported.
Original Article
Source: nasdaq
Author: Rome Bureau
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