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Thursday, October 30, 1997 Published at 12:24 GMT



Business

British Aerospace buys Siemens

British Aerospace plans to move into defence systems

British Aerospace has teamed up with Germany's Daimler-Benz Aerospace to take over Siemens Defence Electronics in the United Kingdom and Australia.

Siemens Defence Electronics makes radar systems and communications equipment for army and navy use.

British Aerospace plans to convert subsidiary company Siemens Plessey Systems into its own defence systems business.

The two aerospace companies together paid £329m for Siemen's British and Australian operations which have order books worth £341m.

The British Aerospace Chief Executive, Dick Evans, said: "We are delighted that we have been selected, with our partners Dasa, as the final purchaser.

"We now have a valuable opportunity to build on our existing system integration capabilities and strengthen our position in this important and growing sector of the defence business."

The Managing Director of Dorset-based Siemens Plessey Systems, Clive Dolan, said he too was "delighted" the companies had beaten off other bidders.

The British Ministry of Defence recently selected Siemens' radars for future Royal Navy ships.

The takeover is subject to regulatory approval.


 







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