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. Last Updated: 07/27/2016

GEC Seals Alliances

LONDON -- British engineering group General Electric Co. PLC has announced twin deals with other European businesses to create joint ventures in the missile and satellite industries.

In the defense field, GEC announced Wednesday a 50-50 joint venture with Italian defense engineering group Finmeccanica combining their ground, naval, missile system and air traffic control activities.

The new firm is to be called Alenia Marconi Systems and company officials say it will be the biggest missile supplier outside the United States.

In the space sector, the two have joined with France's Lagadere and Germany's Daimler-Chrysler Aerospace (Dasa) to merge satellite activities to form what they say will be Europe's top space venture.