The marriage between Finmeccanica and DRS Technologies, the U.S. military electronics company bought in 2008 for 3.7 billion euros’ is successful, although there is still much to do. Moreover Rome was not built in a day, “says the CEO of DRS, Mark S. Newman, who, after having sold his block of shares to Finmeccanica, making [...]
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“Italy was right decision” interview to Mark S. Newman, DRS CEO
on 02. Apr, 2010 in Finmeccanica Group, Policy, company balance
EADS Falls Into The Red – A380 Will Make Losses For At Least 2-3 Years
on 10. Mar, 2010 in EADS Group, company balance
European Aeronautic Defence & Space Co. NV said Tuesday it swung into the red in 2009 as problem contracts weighed on earnings, as expected, and it predicted that 2010 will be another difficult year even though visibility is improving. The company was weighed down by a EUR1.8 billion charge against cost overruns on its long-delayed [...]
US Grounds BAE Export Applications
on 09. Mar, 2010 in BAE Systems, USA, company balance
The US State Department has put a hold on all new applications for export licences by BAE Systems in the wake of the company’s recent criminal plea agreement to settle long-running bribery allegations.
It says it wants to establish what impact the UK armsmaker’s agreement last month with the Department of Justice will have on the [...]
Fimeccanica / Guarguaglini: 2009 results exceed expectations
on 04. Mar, 2010 in Finmeccanica Group, company balance
Data even more positive when compared to world stage
* orders over 22 billion euros in both 2010 and 2011
* recovery in civil helicopter market by 2012
* Ansaldo Energia fate within next two months
* Shares up 1.2 percent
In 2009, Finmeccanica’s performance was “above expectations and show growth in all parameters.” The company’s chairman and CEO, Pier Francesco [...]
Thales Stock Tumbles After Surprise 2009 Loss
on 23. Feb, 2010 in Thales Group, company balance
Shares in Thales fell sharply Feb. 19 after the French systems company posted an unexpected 2009 net loss of 128 million euros ($173 million), halved its dividend and issued a gloomy outlook for orders.
The net loss followed a 2008 net profit of 650 million euros. Sales rose 2 percent to 12.88 billion euros from 12.66 [...]
BAE loses US battle and takes £592m hit
on 23. Feb, 2010 in BAE Systems, USA, company balance
BAe Systems suffered another major blow today, saying that it will incur a £592 million writedown after it failed to overturn the Pentagon’s decision to award a trucks and vehicles contract to a US supplier.
BAE had challenged the award of the £2 billion contract to Oshkosh but its appeal was rejected.
The UK company recently agreed [...]
Contracts loss forces BAE to restructure armaments
on 19. Feb, 2010 in BAE Systems, Contracts, company balance
BAE Systems, Europe’s largest defence company, has begun to restructure its once-lauded land and armaments division after losing key armoured vehicle contracts.
The company said that it would cut thousands of jobs in the division but refused to give exact numbers. It also closed ten sites in the UK and United States last year as part [...]
BAE Systems dives into the red
on 18. Feb, 2010 in BAE Systems, company balance
BAE Systems has said it will writedown $929 million (592 million pounds, 681 million euros) on 2009 earnings after failing to win a US military contract.
BAE Systems on Thursday announced it had fallen into a loss last year after a major write-down linked to its purchase of US military group Armor Holdings.
BAE Systems said it [...]