• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • COMTECH banner

BATTLESPACE Updates

   +44 (0)77689 54766
   

  • Home
  • Features
  • News Updates
  • Defence Engage
  • Company Directory
  • About
  • Subscribe
  • Contact
  • Media Pack 2024

BUSINESS NEWS

October 3, 2014 by

24 Sep 14. Dassault Aviation S.A. shareholders approved a plan that would allow the company to buy back as much as 10% of its stock. The move comes after Airbus Group EADS said it was considering selling its 46% nonvoting stake it inherited when the company was created by pooling some French and German aerospace and defense assets more than a decade ago. The French government has preferred purchase rights on the shares. The shareholder vote gives Dassault the right in principal to buy some of the shares. The approval came at the company’s annual general meeting in Paris. Dassault makes Falcon business jets as well as the French combat jets used in airstrikes against Islamic insurgents in Iraq. Airbus is considering the stake sale as it shifts strategy to more focus on growth in its large commercial jet unit, helicopters and a narrower field of military activities. Airbus said this month it would seek to shed some defense and security activities. Airbus Chief Executive Tom Enders said the planned disposals “are the logical follow-up to our group strategy review in 2013” after the company’s merger plans with BAE Systems BA.LN IN Your Value Your Change Short position PLC failed the year prior. After that review, Airbus consolidated separate space and defense units. Closely held Dassault Aviation, which competes for business jet orders with companies such as General Dynamics Corp. Gulfstream unit and Canada’s Bombardier Inc.(Source: Defense News Early Bird/WSJ)

25 Sep 14. Italy’s defense group Finmeccanica (SIFI.MI) said on Thursday its board had decided to proceed with a request for binding offers for its loss-making train unit Ansaldo Breda after examining the bids so far received. In a statement, the company – which opened the data room of AnsaldoBreda to potential bidders in June – said Mediobanca and UBS are advising it on the sale. The state-controlled aerospace and defense group put Ansaldo Breda and other assets up for sale more than 2 years ago to cut its heavy debt burden but political meddling and a corruption scandal delayed the process. Earlier this month, the company said it had received four non-binding offers for both Ansaldo Breda and profitable rail signalling company Ansaldo STS. These came from Spain’s CAF, a consortium comprising China CNR Corporation (601299.SS) and Insigma, Hitachi and Thales. Finmeccanica has formally put up for sale only AnsaldoBreda but has signalled it wants to exit the transport business, which would mean also selling Ansaldo STS. (Source: Reuters)

30 Sep 14. Israel MoD Amasses $800m Debt to Industry. Israel’s MoD owes local industry more than US $800mi for work on Iron Dome, unmanned vehicles and other high-priority systems performed essentially on credit over the past 18 months. Defense Minister Moshe Ya’alon estimated MoD debt accrued since the beginning of last year at 3bn shekels (US $810m)
In a Sept. 30 address at the Institute for National Security Studies, Ya’alon said MoD’s debt applied to Israel’s top three defense firms: Elbit Systems, Israel Aerospace Industries (IAI) and Rafael. But he singled out Rafael, Iron Dome prime contractor, for special mention, noting that the state-owned firm has been building anti-rocket interceptors on credit over an extended period. “In the past year and a half, Rafael has produced Iron Dome on credit,” Ya’alon said. An MoD spokeswoman declined to amplify on Ya’alon’s public remarks, made in the context of ongoing debate about Israeli defense spending. She noted, however, that most Iron Dome production funding is coming from Washington. Since 2011, the US has committed to nearly $1bn in Iron Dome funding in addition to the $3.1bn it provides in annual security assistance grant aid to Israel. At the request of Congress, the Pentagon had been holding a large portion of that amount, at least $429m, in abeyance pending a bilateral agreement for US-based production of Iron Dome components. On March 10, the US Embassy in Tel Aviv announced tha

Primary Sidebar

Advertisers

  • qioptiq.com
  • Exensor
  • TCI
  • Visit the Oxley website
  • Visit the Viasat website
  • Blighter
  • SPECTRA
  • Britbots logo
  • Faun Trackway
  • Systematic
  • CISION logo
  • ProTEK logo
  • businesswire logo
  • ProTEK logo
  • ssafa logo
  • AtkinsRealis logo
  • IEE
  • EXFOR logo
  • sibylline logo
  • Team Thunder logo
  • Commando Spirit - Blended Scoth Whisy
  • Comtech logo
  • GoExporting logo
  • ECHODYNE logo
  • Supercat logo
  • Galvion logo
  • Leonardo DRS logo
  • MTC logo
  • IDC logo
  • IDC logo
  • DVD2024 logo
  • SDSC logo
Hilux Military Raceday Novemeber 2023 Chepstow IAV 2024

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

  • PARLIAMENTARY QUESTIONS

    November 24, 2023
    Read more
  • EXHIBITIONS AND CONFERENCES

    November 24, 2023
    Read more
  • VETERANS UPDATE

    November 24, 2023
    Read more

Copyright BATTLESPACE Publications © 2002–2023.

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