Italian aerospace and defence firm Leonardo is seeking to expand its operations in different areas of business by seeking new partnerships.

At an international event, Leonardo CEO Alessandro Profumo was reported by Reuters as saying that aside from a preliminary bid for the maintenance business of Italian aviation technology company Piaggio Aerospace, it currently does not have any firm deals in place.

The group is also working on a potential partnership in torpedoes.

Leonardo was quoted by news agency as saying: “We want to remain in the driving seat and lead the M&A process in those business areas where Leonardo is a leader. On the opposite side, in those areas where the group is not a leader it is open to cede control in a combination.”

The firm has primarily three business areas, which are helicopters, aircraft, and electronics and defence.

Furthermore, the group operates other segments that may ultimately be streamlined and sold to trim its portfolio.

The firm is working on relaunching its aerostructures division.

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This division manufactures carbon-fibre structures for Boeing and develops fuselage sections for Airbus, Boeing, and Dassault.

Following a management change at this division, some positive signs are becoming visible, Profumo added.

Leonardo has made a nonbinding bid for Piaggio Aerospace’s maintenance business.

However, the firm has no plans to acquire Piaggio’s entire company.

The Government of Italy has indicated that it does not want the company to split.

Profumo added: “I am not jealous about Piaggio Aerospace, if there is an investor ready to buy the whole company, it is fine for me.”