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BAE Systems PLC (BAES.L)

BAES.L on London Stock Exchange

583.50GBp
18 Aug 2017
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Latest Key Developments (Source: Significant Developments)

BAE to provide warfare suite for a U.S. special operations command
Wednesday, 12 Jul 2017 09:00am EDT 

July 12 (Reuters) - BAE Systems Plc ::BAE Systems chosen to provide electronic warfare suite for U.S. Special operations command C-130s.‍Company received a $67 million contract modification to a competitively awarded contract​.‍Contract's total value, including all options, is expected to exceed $300 million​.  Full Article

UK's CMA advises Bae Systems should be released from Marconi Electronic merger undertakings
Thursday, 22 Jun 2017 06:10am EDT 

June 22 (Reuters) - Competition and Markets Authority :UK's CMA- advise the secretary of state that BAES should be released from the undertakings following its merger with marconi electronic systems in 1999.UK's CMA- "our advice is that the undertakings are no longer needed and so BAES should be released from them".  Full Article

BAE Systems says COO Woodburn to step up as CEO after Ian King retires
Wednesday, 22 Feb 2017 04:09am EST 

BAE Systems Plc : Ian King, chief executive, BAE Systems Plc, has today informed board that he will retire on June 30, 2017 . Board has also today confirmed that Charles Woodburn, currently chief operating officer, will be appointed as CEO from July 1, 2017 .Until that time, Ian and Charles will continue in their current roles.  Full Article

BAE Systems wins $368 mln U.S. Navy contract
Wednesday, 14 Dec 2016 10:13am EST 

BAE Systems Plc :U.S. Navy awards BAE Systems $368 mln contract to support weapons systems on submarines.  Full Article

UK's CMA to review undertakings given BAE Systems 1999 deal
Friday, 29 Jul 2016 10:21am EDT 

UK's CMA : To review undertakings given by British Aerospace Plc, now BAE Systems Plc, arising from acquisition of General Electric Co unit in Nov 1999 .Undertakings given by BAE Systems have been subject to three reviews to date.  Full Article

BAE Systems wins $245 mln defence supply contract
Thursday, 28 Jul 2016 03:00am EDT 

BAE Systems : Awarded $245 million contract for UK type 26 gun system . Says MK 45 is in service with US navy and 10 other allied nations . Under contract, company will manufacture three MIFS integrated gunnery systems (IGS) and one trainer system for UK Royal Navy .Contract includes an option for five additional systems for remainder of UK Royal Navy's type 26 fleet.  Full Article

BAE Systems plc - Australian tax office names in multinational avoidance row - Reuters
Wednesday, 16 Dec 2015 12:25pm EST 

BAE Systems plc:Australian tax authorities on Thursday took the unprecedented step of publishing the records of hundreds of companies, which show they paid little or no tax on their in-country earnings - RTRS.Of more than 1,500 largely foreign-owned companies which reported total earnings over A$100 mln ($72.11 mln) in the 2014 financial year, more than a third paid no tax, the Australian Taxation Office data showed. - RTRS.Australia has led efforts at the Group of 20 rich nations to close tax loopholes, but the ATO's move appears to have caught ministers off-guard - RTRS."Just because they don't pay tax doesn't mean that they are avoiding tax," Assistant Treasurer Kelly O'Dwyer told reporters, adding the government had strengthened the ATO's powers to ensure corporations paid their dues. - RTRS.Commissioner of Taxation Chris Jordan criticised certain foreign-owned companies for being "overly aggressive in the way they structure their operations". - RTRS."We will continue to challenge the more aggressive arrangements to show that we are resolute about ensuring companies are not unreasonably playing on the edge. - RTRS.The ATO has the powers to release such sensitive corporate information but has never done so until now.Among the offshore firms that paid no tax on their Australian earnings were Halliburton Co, Hilton Worldwide Holdings Inc, Boeing Co , BAE Systems Plc, SABMiller Plc SAB.L, Honda Motor and Ford Motor Co - RTRS.  Full Article

BAE Systems plc announces issue of bonds
Friday, 4 Dec 2015 02:00am EST 

BAE Systems plc:Says private placement of guaranteed notes to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act.Says notes will be issued by BAE Systems Holdings Inc. and guaranteed by BAE Systems plc.Says notes to be issued consist of $500 million aggregate principal amount of Notes paying 2.850% interest and maturing on Dec. 15, 2020, $750 million aggregate principal amount of Notes paying 3.850% interest and maturing on Dec. 15, 2025.And $250 million aggregate principal amount of Notes paying 4.750% interest and maturing on Oct. 7, 2044.Says net proceeds of the offering will be used for general corporate purposes, including repayment of indebtedness.Says offering is expected to close on or about Dec. 10, 2015.  Full Article

BAE Systems Plc receives $245.3 million U.S. Army contract to continue m109a7 production
Monday, 2 Nov 2015 10:27am EST 

BAE Systems Plc:Receives $245.3 million U.S. Army contract to continue m109a7 production.  Full Article

BAE Systems plc Delivers ARCHER Artillery System to Sweden
Monday, 28 Sep 2015 08:00am EDT 

BAE Systems plc:Delivered the first production series ARCHER artillery system to the Swedish Defence Materiel Administration (FMV) during a ceremony at the company's Karlskoga facility.  Full Article

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New boss at BAE Systems seeks 'evolution not revolution'

LONDON BAE Systems' new boss Charles Woodburn aims to sharpen operations and make parts of the defence group work more closely together but said on Wednesday after announcing a rise in first-half profits that there was no reason to change overall strategy.