BAE Systems: building the UK’s new aircraft carrier

It is the second biggest engineering project in the UK behind the Olympics, generates enough energy to power every home in Swindon and has been a topic of political debate for years - the building of Britain’s new aircraft carriers is continuing apace.


See the latest images of the UK's new aircraft carriers

BAE Systems and Saudi Arabia sign £1.9bn Hawk jet deal

British defence giant BAE has signed a £1.9bn ($3bn) deal with Saudi Arabia to supply Hawk trainer jets.

According to trade union Unite 218 jobs at the East Yorkshire factory where the aircraft is made will now be saved.

Negotiations over the deal had been going on "for some time", according to a BBC correspondent.

BAE Systems plans to cut 105 jobs at Glascoed, Monmouthshire

BAE Systems is planning to cut 105 jobs at a munitions factory in Monmouthshire.

A total 620 people are currently employed at Glascoed. The firm said around 80% of the cuts will be contractor posts.

BAE blamed increased automation, as a result of a £50 million investment, and reduced demand for ammunition from the Ministry of Defence (MoD).

It said the cuts were "vital" for the site to remain competitive.

Old tank factory in Newcastle also shutting down (ex Vickers site) with the loss of hundreds of jobs (Originally employed over 20,000 workers when commissioned during the first WW).

19 July 2012

BAE Systems completes sale of BAE Systems Tensylon assets

19 July 2012

Further to the agreement announced on 8 June, BAE Systems has now completed the sale of the assets comprising its BAE Systems Tensylon High Performance Materials Inc. ("Tensylon") business to E. I. du Pont de Nemours and Company for cash consideration of $18 million.

Half Yearly report

FINANCIAL KEY POINTS

‑ Sales1 reduced by 10%

‑ Underlying EBITA2 reduced by 3%

‑ Underlying earnings3 per share4 increased by 1%

‑ Order backlog1,6 increased to £40.0bn

‑ Non-US and UK order intake1 increased to £4.3bn

‑ Interim dividend increased by 4% to 7.8p per share

‑ Operating business cash inflow7 increased to £742m

OUTLOOK

In line with previous guidance, modest growth in underlying earnings3 per share4 is anticipated, assuming a satisfactory conclusion to the Salam pricing negotiations in 2012 and excluding the benefit in 2011 of the Research & Development tax settlement. A higher level of operating business cash inflow7 is planned in 2012 including the anticipated benefit of cash receipts related to the Salam programme.

BAE Systems wins South Korea jet upgrade deal

LONDON | Mon Aug 6, 2012 2:41pm BST

(Reuters) - Britain's BAE Systems (BAES.L) on Monday said its U.S. unit BAE Systems Inc had won a contract to upgrade South Korea's fleet of more than 130 F-16 fighter jets.

BAE said the exact value of the project was still being negotiated but that it is expected to be worth in excess of $1 billion, the lion's share of which will go to Europe's largest defence contractor.

In auction +9.8%

Must be this from earlier :- Exane BNP Paribas reiterates Underperform TP 280p :-)

EADS Said to Explore BAE Combination in Aerospace Revamp

European Aeronautic, Defence & Space Co., the parent of Airbus SAS, is in negotiations with BAE Systems Plc (BA/) about a combination of the two companies, people familiar with the talks said.

The talks are at an advanced stage and the two companies are exploring a transaction that would allow London-based BAE to maintain its independence to sell into the U.S. defense market, said one of the people, who asked not to be identified because the talks are private. A final deal hasn’t been reached, and an agreement may still fall through, the people said.

EADS Chief Executive Officer Tom Enders said today at the Berlin air show that he had no comment. BAE spokespeople declined to comment.
Combining the two companies would create a European counterweight to U.S. aerospace companies including Boeing Co. (BA), Airbus’s main competitor in civil aviation.

Sadly missed this one skinny, good to see it back in form though ie does nowt then explodes on a contract win :O)

Stmnt re Share Price Movement

RESPONSE TO SHARE PRICE MOVEMENT

Further to the recent movement in BAE Systems' share price, BAE Systems plc (BAE Systems) and EADS N.V. (EADS) confirm that they are in discussions regarding a possible combination of their businesses. This potential combination would be implemented through the creation of a dual listed company structure, under which both companies would operate as one group by means of equalisation and other agreements but would be separately listed on their existing exchanges.

The discussions between the parties envisage that BAE Systems shareholders would own 40% and EADS shareholders 60% respectively of the enlarged group. It is contemplated that there would be a unified board and management structure with identical boards and executive committees at each of BAE Systems and EADS.

BAE Systems’ ( BAE ) proposed merger with European aerospace giant EADS is hogging the headlines, but BAE’s shares have this morning given up some of the sharp gains they made ahead of the announcement was published after trading closed yesterday. Maybe traders have digested the proposed deal and realised the complexity of it, which means any resolution will take months.

or may not go ahead.

how about a counter bid from thhe US?

Investors see obstacles, risks to BAE-EADS tie-up

ARIS/BERLIN | Thu Sep 13, 2012 3:09pm BST

(Reuters) - Shares in EADS and Britain's BAE Systems tumbled on Thursday as investors feared that a planned tie-up aimed at creating the world's biggest defence and aerospace group could run up against political and regulatory obstacles.

If talks unveiled late on Wednesday culminate in a deal, BAE shareholders would hold 40 percent and EADS investors 60 percent in a giant with products ranging from Airbus commercial planes to Typhoon warplanes and BAE's Astute-class nuclear-powered submarines.

Update - Investors see obstacles; rivals gain in BAE-EADS tie-up

WASHINGTON/PARIS | Fri Sep 14, 2012 12:07am BST

(Reuters) - Even as it creates the world's biggest aerospace company, the proposed merger of Europe's defence and aviation giants may help U.S. rivals win defence contracts, at least in the short-term, experts said Thursday.

The combination of Airbus parent EADS and Britain's BAE Systems could embroil them in a lengthy complex integration that would limit their ability to win new business.

EADS hopes for quick political decision on BAE plan

BERLIN | Thu Sep 20, 2012 1:35pm BST

(Reuters) - European aerospace group EADS is looking for a quick decision from governments on its plan to merge with British defence company BAE Systems, as France and Germany hold meetings to discuss a common position on the proposed tie-up.

"We are continuing constructive talks and hope for an agreement soon," a spokesman said on Thursday. "All the facts are on the table."

France's president, Francois Hollande, and German Chancellor Angela Merkel will discuss the merger plans at a meeting in Germany this weekend, with advisors due to meet on Thursday and Friday for preparatory talks.

EADS needs this merger....... they must be in trouble......BA. should go with BOEING.

Not exactly hot off the press :- Exclusive: Germany lists reservations on EADS/BAE deal

BERLIN | Mon Sep 24, 2012 3:42pm BST

(Reuters) - Germany has deep reservations about a proposed merger of Airbus parent EADS (EAD.PA) and Britain's BAE Systems (BAES.L), including doubts about whether the combined group would be safe from takeovers and could guarantee jobs.

Germany's doubts, revealed in an economy ministry document, obtained by Reuters on Monday, is the latest sign that the companies' plans to form a $45 billion aerospace and defence giant could fail to gain traction as a result of disagreement between Paris and Berlin over the degree of government say in the future company.