Air Transport World

BAe-Marconi deal may doom aerospace union.(Brief Article)

Hopes for the formation of a powerful European aerospace/defense grouping took a severe knock with a decision by British Aerospace to acquire Marconi Electronics from General Electric (U.K.) in a bid worth [pounds]7.8 billion ($12.4 billion).

Up to the last minute, BAe had been expected to ally with Daimler/ Chrysler Aerospace (Dasa) as the foundation of a European behemoth that eventually would embrace France, Spain, Italy and Sweden, hut BAe saw annual pre-tax cost savings of [pounds]275 million in a Marconi takeover and so went the national, rather than the pan-European, route. …

Log in to your account to read this article – and millions more.