The Italian defence group FINMECCANICA is to merge its helicopter activities with those of its British counterpart GKN within a joint-venture in which they shall each hold a 50% stake. Called AGUSTA WESTLAND, the name of the respective activities of FINMECCANICA and GKN in the sector, this new company will have an annual turnover exceeding $2.1 bn, whereas its order book in the civilian and military sectors will be worth $8 bn. GKN WESTLAND had a pre-tax profit of £80 million in 1999,...