• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Excelitas Qioptiq banner

BATTLESPACE Updates

   +44 (0)77689 54766
   

  • Home
  • Features
  • News Updates
  • Company Directory
  • About
  • Subscribe
  • Contact
  • Media Pack 2022

BUSINESS NEWS

October 11, 2013 by

06 Oct 13. Privatised arms procurement plans in Labour’s sights. Plans to put private companies in charge of buying weapons for British armed forces will come under fresh attack this week as Labour mounts a campaign to change the proposals. Philip Hammond, defence secretary, wants to set up a new body which would be owned by the government but operated by a contractor, a so-called Goco, to run its £14bn defence procurement programme. But Labour will challenge key parts of the reforms on Tuesday when they are debated by a committee of MPs. Jim Murphy, Labour’s shadow defence secretary, will demand that companies should pay part of the cost if projects become more expensive than planned. He will also say ministers should insist that any company taking on procurement work must do so through a UK arm, with more British directors than foreigners.
“Foreign takeover of UK defence procurement could be a real risk to our national security,” Mr Murphy told the Financial Times. “We need to take enormous care about allowing certain companies from some countries taking a stake in any new privately operated defence procurement system.”
His comments echo concerns expressed by senior US military figures , who have warned that the plans could threaten defence co-operation between the two countries. They fear that under the plans foreign companies could get access to US military secrets. Labour says the leaking of any intellectual property should be made a criminal offence to reduce the danger of that happening.
Mr Murphy said: “If a Russian or Chinese company were to win or buy out the contract for our national defence equipment plan this would put real power is the hands of another nation.”
MPs on the defence reform bill committee will debate Labour’s amendments on Tuesday and there are signs that they could win cross-party support. (Source: FT.com)

04 Oct 13. Italy’s Finmeccanica agreed to sell power unit Ansaldo
Energia to Italy’s state-backed fund for 777m euros ($1.06bn), the
aerospace and defence group said on Friday. State-backed lender Cassa Depositi e Prestiti, through its Fondo Strategico Italiano fund, will buy 85 percent of Ansaldo Energia by the end of 2013 and the rest via a put and call option in 2017, for 777m euros. Under the deal, Finmeccanica will initially retain 15 percent of Ansaldo Energia and cash in 273m euros, while U.S. fund First Reserve will sell its entire 45 percent holding to FSI. The transaction also includes an earn-out worth up to 130m euros, maturing in 2014, 2015 and 2016, linked to economic results already laid out in the company’s business plan. (Source: Reuters)

04 Oct 13. Exelis CEO seeks middle ground in budget crunch. Retired Army Lt. Gen. David Melcher, now the CEO of mid-tier aerospace and military contractor Exelis Inc., said diversification is among the best strategies for riding out current U.S. budget and political uncertainty.
“Coherent and complementary portfolio positions have become increasingly important” as budget sequestration bites and an “industry realignment” continues, Melcher told the Atlantic Council, a Washington-based security think tank, on Oct. 2. Best known as a satellite and communications provider for applications like remote sensing and geospatial intelligence, Exelis is increasingly diversifying beyond electronic warfare into networking, aircraft components and structures. As a supplier to military and aerospace prime contractors, Melcher said the current “fluid environment” is forcing mid-tier vendors to view companies like Lockheed Martin and Boeing as “competimates.” Along with its continuing C4ISR focus, Exelis is increasingly emphasizing “critical networks” for the military, air traffic control and analytics. Melcher said the networking focus is driven by government spending trends that have shifted from “land centric” to “commons centric” investments. He defined “commons” as including air, sea, space and the cyber domain. As for military acquisition, th

Primary Sidebar

Advertisers

  • qioptiq.com
  • Exensor
  • TCI
  • Visit the Oxley website
  • Visit the Viasat website
  • Blighter
  • SPECTRA
  • InVeris
  • Britbots logo
  • Faun Trackway
  • Systematic
  • CISION logo
  • ProTEK logo
  • businesswire logo
  • ProTEK logo
  • ssafa logo
  • DSEi
  • Atkins
  • IEE
  • EXFOR logo
  • KME logo
Hilux DVD2022

Contact Us

BATTLESPACE Publications
Old Charlock
Abthorpe Road
Silverstone
Towcester NN12 8TW

+44 (0)77689 54766

BATTLESPACE Technologies

An international defence electronics news service providing our readers with up to date developments in the defence electronics industry.

Recent News

  • EXHIBITIONS AND CONFERENCES

    May 27, 2022
    Read more
  • VETERANS UPDATE

    May 27, 2022
    Read more
  • MANAGEMENT ON THE MOVE

    May 27, 2022
    Read more

Copyright BATTLESPACE Publications © 2002–2022.

This website uses cookies to improve your experience. If you continue to use the website, we'll assume you're ok with this.   Read More  Accept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT