Armor Holdings News

BNET Government provides daily industry trends and global news coverage with insights for managers and executives within the world wide business of government contracting.

BAE Systems, Europe's largest defence company, effectively admitted yesterday that its last big acquisition could be a costly failure after it missed out on a major Pentagon contract.

BNET Government provides daily industry trends and global news coverage with insights for managers and executives within the world wide business of government contracting.

When BAE Systems plc acquired Armor Holdings Inc. for $4.5 billion in July 2007, it gained a military vehicle manufacturer with deep contacts in the U.S. military.

The British defence company is protesting the decision to award the follow-on contract to a US rival, but said yesterday that if its appeal is unsuccessful it will take a hefty impairment charge against $3.8bn of goodwill and other intangible assets linked to Armor Holdings.

Nearly 3,000 jobs in the Sealy area are in jeopardy in the wake of a recent decision by the U.S. Army to award a multibillion-dollar vehicle manufacturing contract to Oshkosh Corp.

Former shareholders of Armor Holdings Inc. should be feeling pretty good about their decision to sell the company two years ago to BAE Systems PLC, because the outlook for the former Armor operations doesn't look so strong right now.

As conflicts around the globe send more charities and development groups in harm's way, a company that specializes in armoring war-fighting machines is branching into civilian markets.

As conflicts around the globe send more charities and development groups in harm's way, a company that specializes in armoring war-fighting machines is branching into civilian markets.

Results from Britain's premier defence and aerospace companies, BAE Systems and Rolls-Royce , were given a mixed reception by investors yesterday.

A Phoenix subsidiary of British defense contractor BAE Systems has agreed to pay three temporary female workers $110,000 to settle a sex and age discrimination lawsuit brought by the trio and U.S. Equal Employment Opportunity Commission.