Finmeccanica, Milan, the state-owned Italian
defense and aeronautics group and the partners of the future group
European Aeronautic Defence and Space Company (EADS), Aerospatiale
Matra, DaimlerChrysler Aerospace AG (DASA) and Construcciones
Aeronauticas SA (CASA), have signed an agreement for the creation
of a joint venture company in the field of military and civil
aircraft, to be called the European Military Aircraft Company (EMAC).
EADS and Finmeccanica would each hold 50 percent of the new
venture, which would in turn have 63 percent of Eurofighter. BAE
holds the remaining 37 percent. The Italian government retains a
54 percent stake in Finmeccanica. Finmeccanica has also been
invited to join the Airbus Integrated Company as a shareholder,
with an option for 5 to 8 percent stake, and will have a
participation of up to ten percent in the future A3XX programme.
BAe's consent will be necessary for this option, since the British
group holds the remaining 20 per cent. 
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