Chester, a word of warning here - and maybe the reason for the latest decline? I'd been thinking about buying back in once the dust settled heer, but this from today's Sunday Times is not good news for MSI - it's the type 45's for which MSI's defence systems are deployed:
"Half of Royal Navy’s ships in mothballs as defence cuts bite
Michael Smith
HALF of the Royal Navy is to be “mothballed” as it bears the brunt of cuts imposed after a series of expensive procurement projects and the hidden costs of the conflicts in Afghanistan and Iraq.
Six destroyers and frigates and two other vessels are expected to be put into reduced readiness, known as mothballing, to achieve urgent savings of more than £250m. It can take up to 18 months to bring mothballed ships back into service.
The armed forces have been told to save more than £250m this year, and £1 billion by April 2008, amid a “rebalancing” of the Ministry of Defence’s (MoD’s) spending plans, defence sources disclosed.
The MoD will also cancel the last two of the eight Type-45 destroyers the navy was supposed to get. The navy was promised the government would provide these in exchange for cutting 15 major ships in 2004, sources said.
Julian Lewis, the Tories’ defence spokesman, said the fresh cuts were “absolutely devastating stuff” and that cutting the number of Type-45 destroyers would be “catastrophic”."
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