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 by Staff Writers London (AFP) Jan 20, 2020
British defence company BAE Systems on Monday said it had agreed to buy key electronic systems from US peers Raytheon and United Technologies whose planned merger has necessitated asset sales. In a statement, BAE said it would pay $1.925 billion (1.734 billion euros) in cash for the military global positioning system (GPS) belonging to United subsidiary Collins Aerospace. The British group is to acquire also Raytheon's airborne tactical radios business for a cash sum of $275 million. "These assets have come to market as part of the regulatory process relating to the merger," the statement said. BAE chief executive Charles Woodburn said the "proposed acquisitions, which are focused on areas of highest priority defence spending, will further enhance the group's opportunity for continued growth in electronic systems". bcp/spm
China slams US defence act over trade restrictions Beijing (AFP) Dec 26, 2019 Beijing on Thursday said it "firmly opposes" trade restrictions included in a new US defence act, having already admonished the bill for interfering in China's internal affairs. The National Defense Authorization Act (NDAA) - signed into law last week - bars the use of federal funds to buy railcars and buses from China, and slows the lifting of sanctions on tech giant Huawei. It comes as Beijing and Washington have agreed to a temporary truce in their bruising nearly two-year trade war, with a ... read more
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