Beretta: ‘Cyberattacks across Europe carried out by foreign intelligence services’
The chairman and chief executive of Beretta Holding is investing to protect companies from cyber warfare. In the US, the takeover bid to acquire a 25 per cent stake in Wall Street-listed Sturm, Ruger has been completed
Cyber warfare is on the rise, and Europe is an increasingly critical front, with attacks growing on a global scale whilst the wars in Ukraine and the Middle East are still ongoing. Operating in sensitive sectors such as arms, ammunition and security equipment may mean having to defend against attacks in this hybrid war.
For a group such as Beretta Holding, based in Luxembourg, with subsidiaries around the world, partnerships with numerous European governments and a position of global leadership in small arms, optical products and ammunition, cyberattacks are a prime example of how geopolitical tensions translate into pressure on organisations. “This is a very delicate time. What I can say is that we have received reports from more than one European country where we have facilities,” admitted Pietro Gussalli Beretta, Chairman and Chief Executive of Beretta Holding, in an interview with *Il Sole 24 Ore*. “Yes, we have experienced problems relating to both cyber security and interference of a different nature – let’s say from foreign intelligence services. This has also occurred in Italia, though in that case it was solely a matter of cyber security. We are cooperating with the authorities in these countries. For our part, we must do our utmost to protect ourselves; the rest is up to the relevant authorities.”
Beretta Holding has just completed a $107 million takeover bid to acquire a further 15 per cent of Sturm, Ruger & Company, bringing its stake in the US company, which is listed on the New York Stock Exchange, to 25 per cent. “This is a strategic move that enhances our growth opportunities in the United States, whilst we will continue to evaluate potential acquisitions in the sectors in which we operate globally,” added Gussalli Beretta.
Dr Gussalli Beretta, it wasn’t an easy operation. What are your plans now?
‘I would say that this is an industrial, rather than a financial, venture, given the significant opportunities it offers both parties, from both a commercial and a production perspective. At the moment I cannot reveal anything: the projects will be explored in greater depth over the coming months with our partners. I can count myself satisfied because relations with the company, which began in a climate of hostility, have evolved in recent months towards a more relaxed and peaceful atmosphere. I am certain that we will collaborate on the development of new industrial projects with the management and the board, to which we will appoint two independent representatives.”
