Telettra SpA, the telecommunications equipment subsidiary of Fiat SpA that is shortly to be merged with Italtel, has reported net profits for 1986 up 30% at the equivalent of $31m on turnover of $438m. The company reports that research and development expenditure was 11.8% of turnover at $51m, and orders were up 20% during the year to $550m. The company took on an additional 356 employees to leave it with 4,930, and it signed collaboration agreements with Jeumont-Schneider of France and Telenorma of West Germany. It also set up a new division to develop mobile telephone equipment.
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