German industrial group Siemens is working towards finalizing the acquisition of FiatAvio, the aero engine division of Italy’s Fiat empire. The deal would make strategic sense to Siemens, which, unlike a number of its competitors in the gas turbine field, does not an aero-derivative capability.
A spokesman for Siemens said that the company was in the throws of the acquisition but could not comment further.
FiatAvio�s turbo-gas division has supplied 362 turbines to 40 different countries and concentrates its activities on the supply of components for gas turbines and servicing. The company is also active as an independent supplier of energy.
Fiat’s aviation involvement dates back to 1908 and today the company develops, produces and distributes components and systems for aircraft and helicopter engines as well as assembling turbines for marine propulsion. The division has developed engine overhauling services and is also closely involved in the Ariane European space programme.
FiatAvio has 5600 employees and industrial sites distributed over the Italian territory and abroad. It has a consolidated turnover of €1361m.