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☆ Russia’s invasion of Ukraine sparked a defense boom. It’s likely to outlast the war
▼ + stars: | 2024-02-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

“While some Ukraine-related orders are starting to come through, restocking and the impact of ongoing defense spending increases will be evident further down the line,” he noted. ‘Era of insecurity’Continued US military support for Ukraine on the scale of the past two years is looking increasingly unlikely. But the pressure on Western governments to beef up their military coffers will outlast the Ukraine war, analysts say, and it started to rise even before Moscow sent its troops marching toward Kyiv two years ago. The febrile global environment has helped lift the shares of Renk, a newly-listed German maker of military tank gearboxes, including those donated by Berlin to Ukraine. And this appeal is unlikely to fade soon, given growing defense spending by governments.

Persons: Lockheed Martin, That’s, Jens Stoltenberg, ” Trevor Taylor, Russia wouldn’t, Micael Johansson, Johansson, “, Charles Woodburn, ”, House Republicans —, Donald Trump, Moscow, Oli Scarff, Trump, Joe Biden, Houthi, It’s, Susanne Wiegand, Myles Walton, Sweden’s, … Organizations: London CNN, Russia, Kyiv, BAE Systems, Thales, Rheinmetall, Lockheed, Northrop Grumman, Atlantic Treaty Organization, NATO, Royal United Services Institute, CNN, Saab, Ukraine, House Republicans, Republican, Kiel Institute, European Union, Getty, International Institute, Strategic, Renk, Reuters, New, Wolfe Research, Sweden’s Saab Locations: Ukraine, Moscow, United States, Canada, Russia, London, Europe, Swedish, Poland, Kyiv, Congress, German, European, Newcastle, Tyne, England, AFP, Beijing, Taiwan, China, Israel, Red, Berlin, Frankfurt, Gaza, New York

☆ BAE on track as orders flow amid heightened geopolitical risk
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File Photo Acquire Licensing RightsLONDON, Nov 13 (Reuters) - BAE Systems (BAES.L) maintained its guidance for annual earnings to rise as much as 12% as orders for military kit continued to flow at a time of heightened geopolitical risk, benefiting Britain's biggest defence company. BAE upgraded its forecast in August, guiding that earnings per share would grow by 10%-12% in 2023 after orders soared following Russia's invasion of Ukraine last year. Since then, Israel has invaded Gaza in the wake of Hamas' Oct. 7 attack, upsetting stability in the Middle East. The group, whose biggest customers are the United States, Britain, Saudi Arabia and Australia, said it had increasing exposure to "structurally growing" defence markets.

Persons: Cheney Orr, Charles Woodburn, Sarah Young, Kate Holton, Paul Sandle Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, BAE, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Israel, Gaza, Australia, Britain, United States, Saudi Arabia, China

☆ British defence firm BAE sets up Ukrainian base
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Trade visitors walk past an advertisement for BAE Systems at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. As the UK's biggest defence contractor, BAE has manufactured much of the equipment that Britain and other governments have provided to Ukraine as it fends off Russia's invasion. Britain is a key defence supplier for Ukraine and in May became the first country to start supplying Kyiv with long-range cruise missiles. BAE, which has benefited from increased defence spending as a result of the conflict, is already providing training and repair services to Ukraine's armed forces. Western defence companies have been weighing opportunities to make weapons in Ukraine against the possible security risks, Reuters reported in June.

Persons: Toby Melville, Volodymyr Zelenskiy, Charles Woodburn, Zelenskiy, BAE's Woodburn, Muvija, Sarah Young, Sachin Ravikumar, Frances Kerry Organizations: BAE Systems, REUTERS, BAE, Reuters, Thomson Locations: Farnborough, Britain, Ukraine, Kyiv, Ukrainian, Sweden, Swedish

☆ BAE snaps up Ball's aerospace arm for $5.6 billion in its biggest deal ever
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. Shares in BAE Systems fell as much as 4.9%, while Ball Corp rose 2.7% in premarket trading. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. He also confirmed the 1.5 billion pound ($1.91 billion) share repurchase announced with its half-year results. The Colorado-based aerospace business made $1.98 billion in revenue and accounted for 13% of Ball's consolidated net sales in 2022.

Persons: Cheney Orr, Tom Arseneault, Chloe Lemarie, Charles Woodburn, Yadarisa Shabong, Chandini, Susan Mathew, Subhranshu Sahu, Jason Neely, Sharon Singleton Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Shore Capital, Britain's, British, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Colorado, Bengaluru

☆ UK defense contractor BAE buying Ball's aerospace division for $5.6 billion
▼ + stars: | 2023-08-17 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Ball Corp. agreed to sell its aerospace division to U.K. defense contractor BAE Systems for $5.6 billion in cash, the companies announced Thursday. The deal is expected to close in the first half of next year, pending regulatory approval. The aerospace unit of Colorado-based Ball, widely known for its beverage and household packaging products, deals in manufacturing spacecraft and specialized aerial systems. BAE noted that more than 60% of Ball's 5,200 or so aerospace employees hold U.S. security clearances. Ball began shopping around its aerospace division earlier this year, looking for a deal that would help trim its nearly $10 billion in debt.

Persons: Charles Woodburn, Ball Organizations: Aerospace, U.S . Space Force, Ball Corp, BAE Systems, NOAA, Pentagon, BAE, Ball Aerospace Locations: Colorado

☆ BAE’s stratospheric space deal has sound logic
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File Photo Acquire Licensing RightsLONDON, Aug 17 (Reuters Breakingviews) - BAE (BAES.L) is showing off its deep pockets. On Thursday, the $37 billion maker of war ships and armored vehicles said it will splurge over $5.5 billion in cash on Ball Corp’s (BALL.N) aerospace arm. BAE CEO Charles Woodburn beat off private equity bidders including Blackstone (BX.N) to seal the deal, which bulks up his exposure to civil and military space surveillance solutions. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Cheney Orr, Ball, Charles Woodburn, Woodburn, Woodburn’s pricey, Aimee Donnellan, EY’s loveless, Neil Unmack, Streisand Neto Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Reuters, BAE, Blackstone, Ball Aerospace, Twitter, TPG, Thomson Locations: Huntsville , Alabama, U.S

☆ BAE Systems snaps up Ball Corp's aerospace arm for about $5.55 bln
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. Shares in BAE Systems were down 3% by 0730 GMT. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The proposed deal would be treated as an asset purchase for federal tax purposes, BAE said. ($1 = 0.7856 pounds)Reporting by Yadarisa Shabong in Bengaluru; editing by Subhranshu Sahu and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Cheney Orr, Chloe Lemarie, Charles Woodburn, Morgan Stanley, Yadarisa, Subhranshu Sahu, Jason Neely Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Britain's, Intelligence, Thomson Locations: Huntsville , Alabama, U.S, Colorado, Bengaluru

☆ BAE snaps up Ball's aerospace arm for $5.6 bln in its biggest deal ever
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. The war in Ukraine has led to new demand for those in munitions supply chains, Tom Arseneault, head of BAE's U.S. business, told analysts. Shares in BAE Systems fell as much as 4.9%, while Ball Corp rose 2.7% in premarket trading. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The Colorado-based aerospace business made $1.98 billion in revenue and accounted for 13% of Ball's consolidated net sales in 2022.

FILE PHOTO-People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File PhotoSummaryCompanies First-half EPS up 17%Sees full-year EPS 10%-12% higher, previous forecast 5%-7%Lifts interim dividend by 11%Shares up 5%LONDON, Aug 2 (Reuters) - Britain's biggest defence company BAE Systems (BAES.L) upgraded its guidance for 2023, forecasting annual earnings growth of 10%-12%, as governments spend more on military equipment in "an increasingly uncertain world". BAE Systems said its good operational performance plus the demand from its customers, the biggest of which are the United States, Britain, Saudi Arabia and Australia, meant its full-year results would be better than expected across the board. Shares in BAE Systems jumped 5% in early deals. For 2023, BAE said earnings per share would grow 10%-12%, compared to the 5%-7% increase it had forecast in February, while it also lifted sales guidance to 5%-7% growth from 3%-5%.

Persons: Cheney Orr, Charles Woodburn, Woodburn, Hargreaves, Aarin, Sarah Young, Paul Sandle, Kate Holton Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, BAE, Thomson Locations: Huntsville , Alabama, U.S, United States, Britain, Saudi Arabia, Australia, Russia, Ukraine, Asia, Pacific, Europe, Czech Republic, Poland, Qatar, Christian

☆ Ukraine says it's working with BAE to set up weapons production facility
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

Zelenskiy spoke after talks with senior officials from BAE, including Chief Executive Charles Woodburn. "It is indeed a massive manufacturer of weaponry, the kind of weaponry that we need now and will continue to need," Zelenskiy said in an evening video address. "We are working on establishing a suitable base in Ukraine for production and repair. This encompasses a wide range of weaponry, from tanks to artillery," he added. Earlier in the day, Zelenskiy said the two sides had agreed to start work on opening a BAE office in Ukraine.

Persons: Volodymyr Zelenskiy, Charles Woodburn, Gabby Costigan, Ukraine Christian Seear, Read, Zelenskiy, David Ljunggren, Bill Berkrot Organizations: BAE Systems, Ukraine Christian, BAE, Thomson Locations: Ukraine, Kyiv

☆ UK, Japan, Italy fighter jet project door still open to others: BAE CEO
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: 1 min

LONDON, Dec 9 (Reuters) - The chief executive of BAE Systems (BAES.L) said that Japan, Britain and Italy's fighter jet project has enough partners to proceed as it is, but he didn't rule out a future partnership with a rival French, German and Spanish fighter jet project. Asked about the potential for joining forces with the rival project CEO Charles Woodburn told reporters on a call on Friday: "I wouldn't rule out one thing or another at the end of the day. He also said three partners was enough. "Yes, it is enough partners, but the door is not closed to others and ultimately, these will be political decisions," he said. Reporting by Sarah Young, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

TOKYO/LONDON, Dec 9 (Reuters) - Japan, Britain and Italy are merging their next-generation jet fighter projects in a bridge between Europe and Asia that marks Japan's first major industrial defence collaboration beyond the United States since World War Two. Britain also wants Japan to improve how it provides security clearances to contractors, sources with knowledge of the discussions told Reuters. The two new platforms would compete head-on with each other and the United States in the global fighter market. "There is going to be a Battle Royal in the next 10-15 years in positioning the various players," said UK defence analyst Francis Tusa. The United States, which has pledged to defend all three countries through NATO and a separate security pact with Japan, welcomed the new Europe-Japan agreement.

☆ BAE Systems sees more growth in 2023
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 15 (Reuters) - BAE Systems (BAES.L), Britain's biggest defence company, forecast more growth next year as the war in Ukraine boosts military spend, helping it post a "very strong" order book in 2022, including a 4.2 billion pound ($4.96 billion) ship contract. The strengthening dollar is a tailwind for BAE and it forecast EPS growth of 11% to 13% on an actual basis. Margin expansion would continue in 2023, the group said. Britain confirmed a long-planned order for type 26 anti-submarine warships earlier on Tuesday which is worth 4.2 billion pounds, said BAE. ($1 = 0.8472 pounds)Reporting by Sarah Young; editing by James DaveyOur Standards: The Thomson Reuters Trust Principles.

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