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Stop CPP investments in firms selling military, police, spy or prison-related products to Israel

Finmeccanica Canada
in 2011

$17 million

This is the online version of
Profiting from Israeli Apartheid:
Canada Pension Plan (CPP) Investments in Corporations Supporting Israel’s Military-, Police-, Surveillance-, Prison-Industrial Complex (Part 1)"
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Finmeccanica was formed in 1948 by merging all of the state-owned mechanical and shipbuilding companies that had been acquired by Italy’s fascist government since 1933 through its Institute for Industrial Reconstruction.

Now, with over US$42 billion in assets, Finmeccanica is Italy’s largest high-tech industry. Still owned in part (30%) by Italy’s government, the firm’s military revenues surpassed US$14.4 billion in 2010, making it the world’s 8th largest war industry. Finmeccanica has steadily climbed these ranks since 2000, when it was the world’s 28th largest war industry. Making everything from complete warplanes and helicopters to satellites and electronics for many weapons systems, almost 60% of its revenue is military related.

Finmeccanica’s sales to the US government are almost entirely military related. Between 2000 and 2009, it had US government contracts worth US$10.9 billion. Of these, US$10.8 billion (99%) were with military clients, most notably the Army (67%), Air Force (16%) and Navy (9%). In the 2000s, Finmeccanica made it onto the Pentagon’s top 100 list twice, in 2008 and 2009, when it ranked 23rd and 26th, respectively.

One of Finmeccanica’s units, Selex Galileo, is providing its Gabbiano radar for two versions of an Israeli Unmanned Aerial Vehicle (UAV). These UAVs, the "Hermes" 450 and 900, are made by Israel’s top war industry, Elbit Systems. The "Hermes" 450 is designed for tactical missions of up to 20 hours, while the larger "Hermes" 900 version can fly for 30 hours without refuelling. Besides using the "Hermes" 450 for reconnaissance/surveillance operations, Israel’s Air Force has equipped them with missiles for air strikes, including political assassinations. Israel’s use of these armed UAVs includes numerous attacks on Gaza, as well as against Lebanon (2006) and Sudan (2009). Israel’s "Hermes" 900s will presumably also be weaponised for such missions.

Finmeccanica is the main contractor in Italy involved in building the F-35 "Joint Strike Fighter," which Israel is scheduled to receive from prime contractor, Lockheed Martin (LM). (See LM in table "CPP Investments.") Three Finmeccanica units are involved:

(1) SELEX Galileo is building the electro-optical targeting systems to direct the F-35’s laser-guided weapons.

(2) SELEX Communications is making the F-35’s UHF radio system, navigation equipment, cockpit panels and lighting system.

(3) Alenia Aeronautica is designing and producing the F-35’s wings.

In February 2012, Israel’s Ministry of Defense announced a US$1 billion deal to buy thirty M346 "Master" advanced combat training jets from Finmeccanica’s Alenia Aeronautica.

Finmeccanica has long had partnerships with Israeli military industries. As early as 1999, Agusta un’Azienda Finmeccanica was collaborating with the Israeli Aerospace Industry (IAI). (See IAI in "State-owned Israeli War Industries.") Finmeccanica’s partnership was with IAI’s Tamam Division on Turkey’s "ATAK Helicopter."

Finmeccanica’s SELEX Communications announced in 2010 that it had integrated the broadband wireless network technology from Israel’s MaxTech Ltd. into a handheld radio communications device to deliver voice, data and video messages for military users. MaxTech makes the Snipetech "Sniper Coordination System" and says its "clients include elite forces and SWAT [Special Weapons and Tactics] units of the Israeli Defense Forces."



COAT research (published in Issues 66 and 67 of Press for Conversion!) exposes that in 2011 the CPP owned about $1.5 billion worth of shares in 68 corporations supplying Israel with military, police, surveillance and prison-related products.

To read COAT's research on the first half of
these 68 companies, click the pdf links below
to see the print version of Issue 66.  Or, click
each company name for the web version.)
(Articles on the second set of 34 companies
are in Issue #67 of Press for Conversion!):

pdf  3M Co
Amdocs Ltd
pdf  Analog Devices Inc

pdf  AT&T
pdf  BAE Systems
pdf  Bank Hapoalim
pdf  Bezeq
pdf  Bharat Electronics Ltd
pdf  CAE Inc
pdf  Carlyle Group
pdf  Caterpillar Inc
pdf  Cellcom Israel
pdf  Cemex
pdf  Cisco Systems
pdf  CRH plc
pdf  Daewoo Engineering & Construction
pdf  Daimler AG
pdf  Delek Group
pdf  Dell Inc
pdf  Discount Investment Corp
pdf  Doosan Corp
pdf  Eaton Corp
pdf  Elbit Systems
pdf  EMC Corp
pdf  Evraz Group
pdf  Fiat Industrial
pdf  Fiat SpA
pdf  Finmeccanica
pdf  Fujitsu Ltd
pdf  Hewlett-Packard Co
pdf  Hitachi Ltd
pdf  Honeywell International
pdf  Hyundai Motor Co
pdf  Hyundai Heavy Industries

Additional resources from this issue:
Israeli Spy Companies:
Verint and Narus

State-owned Israeli War Industries:
, IMI and Rafael

Vertex Venture Capital:
Investing in Israeli High-Tech Companies

Table listing CPP Investments


Table listing CPP Investments worth $1.5 billion in 66 companies supporting Israel's military, police, surveillance, prison-industrial complex.

Table listing additional investments totalling $4.5 billion by six large Canadian pension funds (including CPP) in the 66 companies researched by COAT.

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Top 100 Defense Contractors, Defense News

Annual Report 2010

Finmeccanica, Wikipedia

Contracts to Finmeccanica Group, Inc.

Top 100 Defense Contractors, Gov’t Executive

Tom Kington, "Selex Galileo Radar Selected for Hermes UAV," June 29, 2011.

Elbit Hermes 450, Wikipedia

Elbit Hermes 900, Wikipedia

F-35 Lightning II – JSF (Joint Strike Fighter): international co-operation for the fifth generation multirole fighter, April 2010.

"Italy’s Alenia to Sell Israel 30 M-346 Training Jets," Defense News, February 16, 2012.

IAI/Tamam Division & Agusta are Teaming for the Atak Helicpter Program in Turkey, June10, 1999.

Case Study, Selex Communications

About Snipetech