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46 Facts About BAE Systems
BAE Systems is the successor to various aircraft, shipbuilding, armoured vehicle, armaments and defence electronics companies.
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BAE Systems is listed on the London Stock Exchange's FTSE 100 Index.
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BAE Systems had emerged from the massive consolidation of UK aircraft manufacturers since World War II.
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BAE Systems inherited the UK government-owned "golden" share that was established when British Aerospace was privatised.
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BAE Systems described 2001 as an "important year" for its European joint ventures, which were reorganised considerably.
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The review confirmed the attractiveness of the land systems sector and, with two acquisitions in 2004 and 2005, BAE moved from a limited land systems supplier to the second largest such company in the world.
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Between 2008 and early 2011 BAE Systems acquired five cybersecurity companies in a shift in strategy to take account of reduced spending by governments on "traditional defence items such as warships and tanks".
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In June 2002, BAE Systems confirmed it was in takeover discussions with TRW, an American aerospace, automotive and defence business.
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In December 2005, BAE Systems announced the sale of its German naval systems subsidiary, Atlas Elektronik, to ThyssenKrupp and EADS.
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One of BAE Systems' major aims, as highlighted in the 2005 Annual Report, was the granting of increased technology transfer between the UK and the US.
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BAE Systems was a manufacturer of tactical wheeled vehicles and a provider of vehicle and individual armour systems and survivability technologies.
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BAE Systems inherited British Aerospace's share of Airbus Industrie, which consisted of two factories at Broughton and Filton.
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The BAE Systems board recommended that the company proceed with the sale.
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In September 2010 BAE Systems announced plans to sell the Platform Solutions division of BAE Systems Inc, which the Financial Times estimated could yield as much as £1.
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BAE Systems sold the regional aircraft leasing and asset management arm of its Regional Aircraft business in May 2011.
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BAE Systems retained the support and engineering activities of the business.
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In September 2011, BAE Systems began consultation with unions and workers over plans to cut nearly 3,000 jobs, mostly in the company's military aircraft division.
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On 10 October 2017, BAE Systems announced that it would lay off nearly 2,000 out of its approximately 35,000 employees in Britain, mainly due to an order shortage for the Typhoon fighter.
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BAE Systems plays a significant role in the production of military equipment.
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BAE Systems is indirectly engaged in production of nuclear weapons – through its share of MBDA it is involved with the production and support of the ASMP missile, an air-launched nuclear missile which forms part of the French nuclear deterrent.
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BAE Systems is the UK's only nuclear submarine manufacturer and thus produces a key element of the United Kingdom's nuclear weapons capability.
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BAE Systems was operating in "the only truly open defence market", which meant it was competing with US and European companies for British defence projects, while they were protected in their home markets.
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BAE Systems has been allowed to buy important defence contractors in the US, however its status as a UK company requires that its US subsidiaries are governed by American executives under Special Security Arrangements.
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BAE Systems faces fewer impediments in this sense than its European counterparts, as there is a high degree of integration between the US and UK defence establishments.
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The finding stated that "in the past BAE Systems did not pay sufficient attention to ethical standards in the way it conducted business", and was described by the BBC as "an embarrassing admission".
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On 5 February 2010, BAE Systems agreed to pay criminal fines of £257 million to the US and £30 million to the UK.
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The $400 million fine was a result of a plea bargain with the US Department of Justice whereby BAE Systems was convicted of felony conspiracy to defraud the United States government.
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BAE Systems did not directly admit to bribery, and is thus not internationally blacklisted from future contracts.
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In June 2007, the BBC's Panorama alleged BAE Systems "paid hundreds of millions of pounds to the ex-Saudi ambassador to the US, Prince Bandar bin Sultan" in return for his role in the Al Yamamah deals.
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BAE Systems ran into controversy in 2002 over the abnormally high cost of a radar system sold to Tanzania.
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In September 2003 The Sunday Times reported that BAE Systems had hired a private security contractor to collate information about individuals working at CAAT and their activities.
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In 2003, BAE Systems was criticised for its role in the production of cluster bombs, due to the long term risk for injury or death to civilians.
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In January 2021 following the 2021 United States Capitol attack BAE Systems announced that it was suspending political donations in the US.
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