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BAE SYSTEMS is a multinational defence products manufacturer.
It was formed on November 30, 1999 with the merger of British Aerospace and Marconi Electronic Systems, which was made up of several divisions of GEC-Marconi in the UK and overseas.
It was widely anticipated that British Aerospace would merge with Germany’s DASA to form a pan-European aerospace giant, however BAe chose instead to merge with Marconi’s defence electronics business. This move, to create what could be described as a British company compared to what would have been an Anglo-German firm, made the possibility of penetration of the US defence market more likely. Since the creation of BAE SYSTEMS the company has steadily increased its investment in and its revenues from the United States, while continental European company's have made limited moves into that massive market. Major European companies such as Thales and EADS are unlikely to ever be awarded, for example, a position relative to BAE's involvement in the F-35.
While the US competition authorities did not block the merger, they imposed various conditions of their approval due to the integration of BAe and Marconi in various US defence projects. These conditions were primarily in the internal organisation of the new company.
Following that decision DASA instead merged with Aerospatiale to create the European Aeronautic Defence and Space Company EADS. This group was joined by Spain’s CASA following an agreement in December 1999.
With almost total consolidation on the European continent BAe turned its attention to America, for example acquiring Lockheed Martin Control Systems, (LCMS) which produces controls for the B-2 bomber, the C-17 Globemaster strategic transport, the F/A-18, the Boeing 757 and Boeing 767 commercial jets.
Of all the company's activites the most profitable is the Al YamamahAl Yamamah ("The Dove") was a series of massive UK arms sales to Saudi Arabia, paid for over many years by up to 600,000 barrels of oil per day to the United Kingdom government. The Al Yamamah Project was initiated in September 1985. The deal has never be contracts to supply and support the Royal Saudi Air ForceThe Royal Saudi Air Force is the air force of Saudi Arabia. After the Israeli Air Force, the RSAF has the second largest air fighting capability in the Middle East. The RSAF has developed from a large, defensive military force into one with a highly advan. This deal produces nearly half of the company's profits, £411m ($700m) out of £980m in 2003.
In JuneJune is the sixth month of the year in the Gregorian Calendar, with 30 days. June is named for the Roman goddess Juno, wife of Jupiter. Events in June The solstice occurs around the 21st of this month, although it may occur on either the 20 or 22. It is t 20032003 is a common year starting on Wednesday (link will take you to calendar), and also: The International Year of Freshwater The European Disability Year Summary Perhaps the defining global event of the year 2003 was the Invasion of Iraq launched by the U, rumors started to circulate about a possible merger with either BoeingThe Boeing Company ( NYSE:BA) is a leading American aircraft and aerospace manufacturer, headquartered in Chicago, Illinois, with its largest production facilities near Seattle, Washington. It is also a defense contractor. It is listed on the New York Sto (who acquired BAE SYSTEMS's partner McDonnell DouglasMcDonnell Douglas was a major American aerospace manufacturer, producing a number of famous commercial and military aircraft. It has been part of Boeing since 1997. The company was founded from the firms of James Smith McDonnell and Donald Wills Douglas. in 19971997 was a common year starting on Wednesday (see link for calendar), and was designated the International Year of the Reef''. Events January January 3 NBC's Today Show Bryant Gumbel signs off for the last time January 8 Mister Rogers receives a star on t) or Lockheed MartinLockheed Martin is an aerospace manufacturer formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. It is headquartered in Bethesda, Maryland and employs 130,000 people worldwide. Robert J. Stevens is the CEO. It is a major defense con. Later that year the Boeing's Chief Executive denied any possibility of a North American merger on the grounds of "conflict of interest" pertaining to the affiliation with the Airbus consortium. However if that were the only stumbling block it seems likely that BAE would gladly sell its minority share in Airbus to gain a greater share in North American aerospace projects.