Minister for Defence Materiel Jason Clare today signed a Global Supply Chain Deed with Italian company Finmeccanica at the Land Warfare conference in Melbourne.
The CEO Finmeccanica Group Services, Mr Riccardo Napolitano, signed the Deed on behalf of the Finmeccanica Group which has major facilities inItaly, theUnited Kingdomand theUnited States.
Finmeccanica has 70,000 employees and a revenue of $24 billion. The high technology company manufactures products and provides services ranging from cyber security, radios and electronic systems, torpedoes, helicopters, aircraft and fighter trainers, to satellites.
"Finmeccanica is a big addition to our Global Supply Chain program and I'm pleased to welcome them on board," Mr Clare said.
"Australian small and medium businesses have a range of quality products and services. This Deed will help them get access to more work across Finmeccanica’s global supply chain."
A number of multi-national Defence companies have already signed GSC agreements with the Australian Government including Boeing, Raytheon, Thales, Lockheed Martin, BAE Systems and Northrop Grumman.
Through these agreements, the Government funds multi-national Defence companies to hire a team of people to identify and certify Australian companies as part of their global supply chains.
Global Supply Chain Agreements are designed to outline activities and engagement strategies to increase additional opportunities and scope for Australian industry to compete for work within the supply chains of multinational Defence companies.
The Government has invested over $20 million in the program over the past five years.
"When the program was established everyone agreed that if it could provide a 10-fold return on the Government's investment it would be a roaring success," Mr Clare said.
"To date it has delivered an excellent return on investment with more than $463 million in contracts awarded to Australian industry.
"Australian SMEs have been the big winners, winning about 90 per cent of the value of these contracts."
Imagery is available at: http://images.defence.gov.au/121311613
Minister Clare's Office: Annie Williams – 0428 040 522