BAE SYSTEMS PLC Contracts update (0217T)
June 29 2018 - 2:01AM
UK Regulatory
TIDMBA.
RNS Number : 0217T
BAE SYSTEMS PLC
29 June 2018
29 June 2018
BAE Systems - contracts update
BAE Systems today issues this statement to provide an update on
a number of contracts it has been pursuing in the first half of the
year.
SEA 5000
The Australian Commonwealth Government has selected BAE Systems
as the preferred tenderer to deliver its nine ship Future Frigate
programme for the Royal Australian Navy.
The overall announced programme is expected to be in the region
of AUD $35bn for the design, build and support of the ships. The
Company will soon commence negotiations with Australia's Department
of Defence on the initial design part of the contract, which is
expected to be in place by the year end.
Production of the first ship is expected to start in early 2020s
in South Australia.
Qatar Typhoon and Hawk
BAE Systems and the Government of the State of Qatar signed a
contract in December 2017 for the supply of 24 Typhoon aircraft to
the Qatar Emiri Air Force along with a bespoke support and training
package. This was subject to financing conditions and receipt by
the Company of first payment.
Discussions have progressed and a number of milestones achieved,
including the issuing of a Royal Decree relating to Qatar's
financing of the contract.
Financing discussions are in progress and, when successfully
concluded, it is anticipated first payment would be received in the
third quarter of 2018.
BAE Systems is also pleased to announce that an amendment has
been made to the contract to include the supply of nine Hawk
Advanced Jet Trainer aircraft to the Qatar Emiri Air Force, along
with an initial support package. Delivery of the first Hawk
aircraft is expected in 2021.
Amphibious Combat Vehicle
On 19 June BAE Systems and industry teammate Iveco Defence
Vehicles were announced as having won the US Marine Corps'
competition for the Amphibious Combat Vehicle 1.1 programme.
With the announcement, the U.S Marine Corps has awarded BAE
Systems a US$198m contract for low rate production of 30 Amphibious
Combat Vehicles (ACV), with initial options for a total of 204
vehicles which if exercised could take the contract value up to
US$1.2bn.
Half year results
BAE Systems will announce its half year financial results for 6
months to the 30 June 2018 on 1 August 2018.
For further information please
contact:
Investors Media Relations
Kristina Anderson
Martin Cooper, Director, Media Relations
Investor Relations Director Telephone: +44 (0)7540
Telephone: +44 (0)1252 383040 628673
Email: investors@baesystems.com Email: Kristina.anderson@baesystems.com
Issued by:
BAE Systems plc
London
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
CNTUKSVRWVANURR
(END) Dow Jones Newswires
June 29, 2018 02:01 ET (06:01 GMT)
Bae Systems (LSE:BA.)
Historical Stock Chart
From Apr 2024 to May 2024
Bae Systems (LSE:BA.)
Historical Stock Chart
From May 2023 to May 2024