newswatcher
19th Dec 2002, 11:56
From the Daily Telegraph(19/12):
"BAE Systems was awarded two contracts totalling £80m with the Ministry of Defence yesterday despite the current row over the Nimrod and Astute contracts. The two contracts are dwarfed by the £4.8 billion Nimrod and Astute deals which have caused the company so much trouble. But the announcements were seen as an attempt to show that it is business as usual.
BAE will be paid £70m to help service Harrier jets operated by the Royal Navy and RAF over the next 10 years and will enable the forces to make swift alterations to the aircraft should defence needs change. The company has also won a £10m contract to replace Ministry of Defence manuals and files with an online web-based system.
The contracts come as BAE continues to meet investors and analysts to convince them there are unlikely to be any further shocks after the news the two key contracts were running significantly over cost and behind schedule.
Management are also due to meet Gordon Brown, the Chancellor, tomorrow to talk about the order for two aircraft carriers, due to be awarded next year.
He will meet them in his role as MP for Dunfermline East where work would be carried out. The shares rose 5.25 to 122.25p."
"BAE Systems was awarded two contracts totalling £80m with the Ministry of Defence yesterday despite the current row over the Nimrod and Astute contracts. The two contracts are dwarfed by the £4.8 billion Nimrod and Astute deals which have caused the company so much trouble. But the announcements were seen as an attempt to show that it is business as usual.
BAE will be paid £70m to help service Harrier jets operated by the Royal Navy and RAF over the next 10 years and will enable the forces to make swift alterations to the aircraft should defence needs change. The company has also won a £10m contract to replace Ministry of Defence manuals and files with an online web-based system.
The contracts come as BAE continues to meet investors and analysts to convince them there are unlikely to be any further shocks after the news the two key contracts were running significantly over cost and behind schedule.
Management are also due to meet Gordon Brown, the Chancellor, tomorrow to talk about the order for two aircraft carriers, due to be awarded next year.
He will meet them in his role as MP for Dunfermline East where work would be carried out. The shares rose 5.25 to 122.25p."