HSBCThis article needs to be cleaned up to conform to a higher standard of quality.This article has been tagged since July 2005. See How to Edit and Style and How-to for help, or this article's talk page. HSBC Holdings PLC (NYSE: HBC, LSE: HSBA, HKSE: 005, Euronext: HSBC), is one of the largest banking groups in the world. It is headquartered in London, with its head office based in the HSBC Tower, London, a part of the Canary Wharf development in the London Docklands. Its founding member is The Hongkong and Shanghai Banking Corporation Limited, a bank established by the Scot Thomas Sutherland to finance British trade in the Far East in 1865. The bank is the third largest corporation in terms of assets ([2]). It reports its numbers in US dollars as 70% of its earnings come from outside the UK. Nearly 40% of its earnings is from operations in Hong Kong. Before moving the headquarters to London in early 1990s, it was headquartered in Hong Kong. It is the largest bank in Hong Kong, and at the end of 2004 it was the third largest banking group in the world by tier 1 capital [3]. HSBC logoThe HSBC logo is derived from the Scottish flag which is the angular cross St. Andrew, the patron saint of Scotland, was crucified upon. Activities in the United Kingdom
HSBC is one of the five largest banks in the United Kingdom, along with Barclays, Royal Bank of Scotland / Natwest, Lloyds TSB and HBOS. Its shares are one of the largest components of the FTSE 100 Index. In traditional City jargon the bank is known as "Honkers and Shankers". HSBC also owns the rail leasing company HSBC Rail (formerly Forward Trust Rail). Activities in Hong Kong
HSBC was first established in Hong Kong in March 1865. By the 1880s, the bank was acting as banker to the Hong Kong government under British rule. Prior to diversifying its business into a worldwide financial institution as it is known today through a series of alliances and acquisitions, the business of the Bank was concentrated in the Asian region, particularly in Hong Kong. It once adopted a shorthand of "HongkongBank", which is still a widely used jargon in Hong Kong today. The Hong Kong headquarters of the HSBC are in Central, Hong Kong, in the HSBC Hong Kong headquarters building. It was designed by British architect Norman Foster, and was the most expensive building in the world for the usable floor area when it was built. HSBC is one of the three banks which issues banknotes for Hong Kong (the other two being the Bank of China (Hong Kong) and Standard Chartered Bank). HSBC acquired a controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank. Activities in Mainland China
HSBC established its Shanghai branch office on 3 April 1865. Aside from the period 1941-1945, in which Japan forced HSBC and other foreign-invested banks to leave the local market, it has had a continuous presence in the city. HSBC was historically housed in one of the largest and most impressive buildings on The Bund, Shanghai's boulevard formerly known as the Wall Street of the Orient. In April 1955, HSBC handed over this office to the Communist government, and its activities were continued in rented premises. Its activities were mainly in inward remittances and export bills until the economic reforms of the late 1970s. Chinese authorities had offered to lease HSBC its old headquarters on The Bund in 1995 but the offer was turned down. Currently HSBC is located in its own HSBC Tower across the river in the Pudong area of Shanghai. On 6 August 2004, HSBC announced to pay USD 1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. Industry considered this move giving HSBC a lead in the race to grab pieces of mainland China's banking market. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank, Ltd. to purchase an 11% stake in Bank of Shanghai (HSBC paid USD 62.6 million for an 8% stake) and USD 733 million for a 10% stake in Ping An Insurance. Activities in the AmericasCanada
HSBC has a strong presence in overseas Chinese communities especially in Vancouver and Toronto in Canada. HSBC Canada is the only Canadian bank with headquarters in British Columbia. United States
HSBC acquired a 51% shareholding in Marine Midland banks of New York State, headquartered in Buffalo, New York in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA. After the acquisition of Republic National Bank in 1999, the head office of HSBC Bank USA moved from the HSBC Center in Buffalo to 452 Fifth Avenue, New York City — although the official headquarters are in Wilmington, Delaware. There are some 400 HSBC branches throughout New York State in addition to some 20 to 25 branches in other states, including Florida and California. There was a branch office on the ground floor of the World Trade Center in New York City. Marine Midland owned several prominent properties, including the Marine Midland Building at 140 Broadway in Manhattan, near the World Trade Center. Completed in 1967, this 52-story, 688 ft (209.7 m) highrise provides 1.2 million square feet (110,000 m²) of office space in lower Manhattan and is noted for the distinctive "Noguchi's Cube" sculpture at its entrance. The tallest building in Buffalo also carries the HSBC name, and is noted for its open entry level, under which the Buffalo Metro Rail passes. Also of note, Marine Midland had purchased naming rights to the Buffalo sports and entertainment venue constructed in 1996, the Marine Midland Arena, home of the Buffalo Sabres. Today, the venue is known as the HSBC Arena. On March 28, 2003 Household International was acquired by HSBC. The acquisition was controversial: Household International had, in October 2002, settled for $486 million charges of predatory lending by attorneys general in 46 U.S. states. Household International's CEO William Aldinger became the highest-paid director in the United Kingdom, before announcing his departure in February 2005. HSBC is expanding the Household International high-cost consumer financial model to Brazil, India and elsewhere, as reported-on in detail in this weekly HSBC Watch Report by the Fair Finance Watch organization. Mexico
Banco Internacional, S.A., Mexico's fifth largest bank was acquired by HSBC by 2003, changing the company's name to HSBC México, S.A., with presence nationwide. Though the purchase was legal, Banco Internacional, S.A. was known to be involved in money laundring operations, and participated in the infamous Fobaproa, which rescued the banks in the 1994 crisis, at the cost of the Mexican's taxes. Activities in Continental Europe and AsiaFrance
Crédit Commercial de France is a wholly owned subsidiary of HSBC, and HSBC is listed on the Paris Stock Exchange. Turkey
Demirbank TAS was acquired by HSBC in 2001 following a default of Demirbank. Saudi Arabia
Formerly the British Bank of the Middle East. IndiaThe Mercantile Bank of India, London and China was established in October 1853 in Bombay (now Mumbai). The Mercantile Bank was acquired in 1959 by HSBC. History of HSBC Holdings plc
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The Mercantile Bank was acquired in 1959 by HSBC. Some are:. The Mercantile Bank of India, London and China was established in October 1853 in Bombay (now Mumbai). This is not a complete list, only major projects are included. Formerly the British Bank of the Middle East. The company either leads or has a major stake in some of the most high profile, high technology civil and military aerospace and maritime projects in the world. Demirbank TAS was acquired by HSBC in 2001 following a default of Demirbank. BAE Systems is in an enviable position. Crédit Commercial de France is a wholly owned subsidiary of HSBC, and HSBC is listed on the Paris Stock Exchange. Primary businesses are; airborne radar systems, Electronic Warfare (EW) systems, military lasers and electro-optical systems. was known to be involved in money laundring operations, and participated in the infamous Fobaproa, which rescued the banks in the 1994 crisis, at the cost of the Mexican's taxes. SELEX S&AS incorporates the majority of the former BAE Systems Avionics business. Though the purchase was legal, Banco Internacional, S.A. SELEX Sensors and Airborne Systems (SELEX S&AS), a joint venture with Finmeccanica in which BAE Systems has a 25% stake, was formed in May 2005 (see Expansion & further consolidation. Banco Internacional, S.A., Mexico's fifth largest bank was acquired by HSBC by 2003, changing the company's name to HSBC México, S.A., with presence nationwide. The remaining shares are held by EADS (37.5%) and Finmecannica (25%). HSBC is expanding the Household International high-cost consumer financial model to Brazil, India and elsewhere, as reported-on in detail in this weekly HSBC Watch Report by the Fair Finance Watch organization. BAE Systems holds a 37.5% share interest in the World's secong largest missile systems manufacturer, MBDA. Household International's CEO William Aldinger became the highest-paid director in the United Kingdom, before announcing his departure in February 2005. This co-operation dates back to 1995 when Saab and British Aerospace established a joint venture for Gripen export marketing. states. Formed in 2001, Gripen International is a joint company for the marketing of the JAS-39 Gripen fighter. The acquisition was controversial: Household International had, in October 2002, settled for $486 million charges of predatory lending by attorneys general in 46 U.S. The company is based in Bremen. On March 28, 2003 Household International was acquired by HSBC. Atlas Elektronik, a German marine systems business, is a wholly owned subsidiary of BAE Systems. Today, the venue is known as the HSBC Arena. The company provides vehicle management, power systems, guidance and control interfaces for vehicles, aircraft and UAVs. Also of note, Marine Midland had purchased naming rights to the Buffalo sports and entertainment venue constructed in 1996, the Marine Midland Arena, home of the Buffalo Sabres. Platform Solutions is based in the US as part of BAE Systems North America with facilities in the UK. The tallest building in Buffalo also carries the HSBC name, and is noted for its open entry level, under which the Buffalo Metro Rail passes. This company is responsible for BAE Systems’ extensive range of underwater warfare products:. Completed in 1967, this 52-story, 688 ft (209.7 m) highrise provides 1.2 million square feet (110,000 m²) of office space in lower Manhattan and is noted for the distinctive "Noguchi's Cube" sculpture at its entrance. The order for the initial batch of three ships was place in 1997, with Vickers Shipbuilding and Engineering, since absorbed into BAE Systems . Marine Midland owned several prominent properties, including the Marine Midland Building at 140 Broadway in Manhattan, near the World Trade Center. The Astute class is a new generation of nuclear attack submarine (SSN) for the Royal Navy. There was a branch office on the ground floor of the World Trade Center in New York City. The submarines are constructed at BAE Systems’ yard at Barrow-in-Furness. There are some 400 HSBC branches throughout New York State in addition to some 20 to 25 branches in other states, including Florida and California. BAE Systems Submarines, until 2003 a unit within BAE Systems Marine, is responsible for the development and production of the Astute class submarine. After the acquisition of Republic National Bank in 1999, the head office of HSBC Bank USA moved from the HSBC Center in Buffalo to 452 Fifth Avenue, New York City — although the official headquarters are in Wilmington, Delaware. An important part of the company is Property & Environmental Services which manages BAE Systems’ own property and provides specialist services such as defence site decommissioning. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA. Shared Services also manages BAE Systems’ Advanced Technology Centre and the company’s IT & e-services contracts. HSBC acquired a 51% shareholding in Marine Midland banks of New York State, headquartered in Buffalo, New York in 1980 and extended to full ownership in 1987. It manages BAE Systems’ car and aircraft fleets, employee payroll, services and benefits. HSBC Canada is the only Canadian bank with headquarters in British Columbia. BAE Systems Shared Services is the group with BAE Systems responsible for managing resources and directing operations. HSBC has a strong presence in overseas Chinese communities especially in Vancouver and Toronto in Canada. While this unit no longer produces aircraft it continues to lease aircraft and provide support, spares and training for its products, the. to purchase an 11% stake in Bank of Shanghai (HSBC paid USD 62.6 million for an 8% stake) and USD 733 million for a 10% stake in Ping An Insurance. BAE Systems Regional Aircraft produced the last fully UK-built airliner in November 2001, the Avro RJX (formerly the BAE 146). A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank, Ltd. Businesses purchased in the US by the former GEC businesses before the merger and BAE Systems after the merger include:. Industry considered this move giving HSBC a lead in the race to grab pieces of mainland China's banking market. This has led to a situation where BAE Systems' North American operations now account for approximately 30% of the company’s profits while its UK operations (its "home market") now accounts for less than 25%. At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. This is important due to the unmatched $400bn spent on defence by the US government. On 6 August 2004, HSBC announced to pay USD 1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. Perhaps the single most important division of BAE Systems, it is the business which gives BAE Systems access to the American aerospace and defence market. Currently HSBC is located in its own HSBC Tower across the river in the Pudong area of Shanghai. BAE Systems North America’s headquarters are in Rockville, Maryland and the division has facilities in 30 US states and Washington D.C. Chinese authorities had offered to lease HSBC its old headquarters on The Bund in 1995 but the offer was turned down. As well as services, construction products include:. Its activities were mainly in inward remittances and export bills until the economic reforms of the late 1970s. At the same time the Barrow shipyard, BAE Systems Marine (VSEL), became part of BAE Systems Submarines (see below). In April 1955, HSBC handed over this office to the Communist government, and its activities were continued in rented premises. This new company took the surface vessel shipyards at Scotstoun and Govan, formerly part of BAE Systems Marine. HSBC was historically housed in one of the largest and most impressive buildings on The Bund, Shanghai's boulevard formerly known as the Wall Street of the Orient. Formed in 2003 BAE Systems Naval Ships was formed to centralise BAE Systems' shipbuilding operations. Aside from the period 1941-1945, in which Japan forced HSBC and other foreign-invested banks to leave the local market, it has had a continuous presence in the city. With the acquisition of United Defense Industries in 2005 Land Systems became part of BAE Systems Land and Armaments, based in Arlington, VA, USA. HSBC established its Shanghai branch office on 3 April 1865. BROACH), Multiple Launch Rocket Systems, Tank and Artillery Ordnance, Electronic Systems. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank. This group provides Armoured vehicles, explosives, Artillery Ammunition, Mortars, Small Arms, Naval Ammunition Launchers, Warheads (e.g. HSBC acquired a controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. BAE Systems Land Systems was created in 2004 to consolidate BAE Systems’ land warfare systems expertise by bringing together RO Defence and the newly acquired Alvis Vickers. HSBC is one of the three banks which issues banknotes for Hong Kong (the other two being the Bank of China (Hong Kong) and Standard Chartered Bank). The RAF Tornado GR4 upgrade is an excellent example of the work undertaken by the CS&S division. It was designed by British architect Norman Foster, and was the most expensive building in the world for the usable floor area when it was built. BAE Systems Customer Solutions & Support (CS&S) provides through life support and upgrades for defence forces. The Hong Kong headquarters of the HSBC are in Central, Hong Kong, in the HSBC Hong Kong headquarters building. The division is a major supplier of defence electronics, integrated command & control (C²) systems, radar, simulators, meteorological systems, data links and C4ISR battle management systems. It once adopted a shorthand of "HongkongBank", which is still a widely used jargon in Hong Kong today. BAE Systems Integrated System Technologies (to be known informally as Insyte) was formed on May 3, 2005 by bringing together BAE Systems' interests in C4ISR and the UK operations of AMS following the Eurosystems Transaction (see Expansion & further consolidation for further details). Prior to diversifying its business into a worldwide financial institution as it is known today through a series of alliances and acquisitions, the business of the Bank was concentrated in the Asian region, particularly in Hong Kong. Air Systems manages BAE Systems’ military aircraft projects, primarily:. By the 1880s, the bank was acting as banker to the Hong Kong government under British rule. Airbus UK started work on the wings for the Airbus A380 in August 2002. HSBC was first established in Hong Kong in March 1865. In 2001 Airbus Industrie became Airbus S.A.S., the Airbus Integrated Company. HSBC also owns the rail leasing company HSBC Rail (formerly Forward Trust Rail). In 1979 BAe rejoined the Airbus consortium. In traditional City jargon the bank is known as "Honkers and Shankers". The British government withdrew support in 1969 but Hawker Siddeley was allowed to continue as supplier of the aircraft's wings due to the advanced stages of design and the reluctance of other nations to take over the wing design. Its shares are one of the largest components of the FTSE 100 Index. Hawker Siddeley (which merged with British Aircraft Corporation (BAC) in 1977 to form British Aerospace) was part of the first Airbus projects, the Airbus A300. HSBC is one of the five largest banks in the United Kingdom, along with Barclays, Royal Bank of Scotland / Natwest, Lloyds TSB and HBOS. Filton is also home to a retired Concorde. . Airbus UK has two main sites; Broughton in North Wales carries out final assembly and Filton produces components and wing sections. Andrew, the patron saint of Scotland, was crucified upon. Airbus UK is a wholly owned subsidiary of BAE Systems and produces wings for the Airbus aircraft family. The HSBC logo is derived from the Scottish flag which is the angular cross St. It's not just business, it's political." [5]. It is the largest bank in Hong Kong, and at the end of 2004 it was the third largest banking group in the world by tier 1 capital [3]. This is a business that takes time to understand. Before moving the headquarters to London in early 1990s, it was headquartered in Hong Kong. Turner did suggest however that Olver was on a learning curve, "He'll fully understand it [in 5 years]. Nearly 40% of its earnings is from operations in Hong Kong. In June 2005 Turner heightened investor concerns of boardroom tensions by crticising Olver's knowledge of the defence industry, "[he] has a low knowledge base and knows nothing about our industry" [4]. It reports its numbers in US dollars as 70% of its earnings come from outside the UK. These suggest that Olver has been involving himself in parts of the business which a Chairman traditionally hasn't. The bank is the third largest corporation in terms of assets ([2]). Reports in 2005 have suggested that relations between the Chairman (Olver) and CEO (Turner) are strained. Its founding member is The Hongkong and Shanghai Banking Corporation Limited, a bank established by the Scot Thomas Sutherland to finance British trade in the Far East in 1865. Harry Stonecipher, former CEO of Boeing, has criticised the vertical integration of BAE Systems. It is headquartered in London, with its head office based in the HSBC Tower, London, a part of the Canary Wharf development in the London Docklands. This review will advise the group on what its strategy should be and hence what acquisitions or disposals it needs to make. HSBC Holdings PLC (NYSE: HBC, LSE: HSBA, HKSE: 005, Euronext: HSBC), is one of the largest banking groups in the world. In July, 2004 Olver announced a review of all of BAE Systems' activities, which will be conducted by independent analysts lead by investment bank Morgan Stanley. 2004 - acquisition of 19.9% of the Bank of Communication of Shanghai, China. We think it is good to be taking a fresh look at things." [3]. 2004 - acquisition of Marks & Spencer Retail Financial Services Holdings Ltd.;. Significantly the first meeting between Olver and Hoon is said to have gone well, a MoD official has said "He is a man we can do business with. 2004 - acquisition of The Bank of Bermuda Limited of Bermuda; shares are traded on a fifth stock exchange, the Bermuda Stock Exchange;. It is understood that Turner, like Evans, has a poor working relationship with senior Ministry of Defence officials, including the Defence Secretary Geoff Hoon. 2003 - November 20, a bomb blast in Istanbul destroyed the bank's head office in Turkey causing several deaths and hundreds of injuries. Weston was forced out in what was a surprise move. 2003 - acquisition of Household International of the United States. BAE Systems' CEO is Mike Turner, who replaced John Weston in 2002. of Mexico. BAE Systems took a hit of $1.369bn on these projects. de C.V. This was due to cost overruns of the Nimrod MR4 maritime reconnaissance/attack aircraft and the Astute SSN projects. 2002 - acquisition of Grupo Financiero Bital, S.A. This appointment came at a significant time with stock market confidence still recovering from a shock profit warning in December 2002. 2001 - acquisition of Demirbank TAS of Turkey. Dick Olver, formerly the deputy chief-executive of BP, succeeded Sir Richard on July 1, 2004. 2000 - acquisition of Crédit Commercial de France; shares are traded on a fourth stock exchange in Paris. In late March 2004, after more than 30 years with the company (and its predecessors), BAE Systems' longstanding Chairman Sir Richard Evans announced his successor. 1999 - acquisition of Republic New York; shares are traded on a third stock exchange, the NYSE, as American Depositary Receipts or ADRs. In the company's 2003 Annual Report Sir Richard Evans sums up BAE Systems' strategy since the Marconi merger:. de Inversiones of Argentina and Banco Bamerindus of Brazil. On May 3, 2005, the Eurosystems Transaction was finalised with:. 1997 - acquisition of Roberts S.A. On January 28, 2005 BAE Systems and Finmeccanica announced the intention to dissolve their partnership in the AMS joint venture with AMS' UK and Italian operations to be taken over by the respective partners as arranged through the Eurosystems Transaction. 1992 - acquisition of Midland Bank in the United Kingdom. UDI manufactures combat vehicles, artillery systems, naval guns, missile launchers and precision guided munitions. 1991 - HSBC Holdings is established; shares are traded on the London and Hong Kong stock exchanges. UDI is primarily a land systems manufacturer, boosting BAE Systems' involvement in this sector and its sales in the important North American market. 1980s - Move into Canadian and Australian markets. On March 7, 2005 BAE Systems announced the $3.974bn acquisition of the United States defence company United Defense Industries (UDI). 1965 - Purchase of a controlling interest in Hang Seng Bank of Hong Kong. On February 20, 2005 The Observer reported that BAE Systems was considering selling its 20% stake in Airbus to pursue further acquisitions in the US; a BAE Systems source denied any such move. 1959 - acquisition of The British Bank of the Middle East and the Mercantile Bank (based in India). It has been seen as an attempt to keep such a strong competitor "at bay" in BAE Systems' "backyard.". It is incorporated in Hong Kong by special dispensation from the British Treasury under the Hongkong and Shanghai Bank Ordinance 1866. What had seemed a certain win for the US company was stopped by BAE Systems' surprise move. 1865 - The Hongkong and Shanghai Banking Corporation Limited is established in Shanghai to finance the growing trade between China and Europe. On June 4, 2004 BAE Systems outbid General Dynamics for Alvis Vickers. As of 2005 the more likely move for BAE Systems' shipbuilding operations is their merger with other British shipyards to form a "Newco" shipbuilding company. BAE Systems without its shipbuilding assets would be a more attractive partner to an American company such as Boeing - which has stated that the shipbuilding operations are of no interest to them. If it decided to sell it was understood that General Dynamics would like to acquire the submarine building facilities at Barrow, while Vosper Thornycroft was said to be interested in the remaining yards. The company would only say that it was reviewing its operations. In May 2004, it was reported that BAE Systems was considering selling its shipbuilding division, the two Clyde shipyards and the Barrow-in-Furness yard. BAE Systems faces considerably fewer hurdles in this sense than their European counterparts, as there is a high degree of integration between the US and UK defence establishments. This is particularly the case if BAE Systems can win prime-contractor status on a major project. The company already has $9bn worth of sales to the Pentagon and any further move into the North American market would yield yet more. The appeal of a link with a North American company is irresistible as the US defence market is by far the largest in the world. However, if that were the only stumbling block, it seems likely that BAE Systems would gladly sell its minority share in Airbus to gain a greater share in North American aerospace and defence projects. Later that year the Boeing's Chief Executive denied any possibility of a North American merger on the grounds of "conflict of interest" pertaining to the affiliation with the Airbus consortium. In June 2003, rumours started to circulate about a possible merger with either Boeing (who acquired BAE Systems' former partner McDonnell Douglas in 1997) or Lockheed Martin. This deal produces nearly half of the company's profits, £411m ($700m) out of £980m in 2003. Of all the company's activities the most profitable are the Al Yamamah contracts to supply and support the Royal Saudi Air Force. With almost total consolidation of the defence industry on the European continent, BAE Systems turned its attention to North America, for example acquiring Lockheed Martin Control Systems, (LMCS) which produces controls for the B-2 Spirit bomber, the C-17 Globemaster strategic transport, the F/A-18, the Boeing 757 and Boeing 767 commercial jets. Various conditions were attached to approval of the merger between BAe and MES. These Articles include the following requirements:. This shareholding prevents amendments of certain parts of the Articles of Association without the Secretary of State's permission. This special share, with a nominal value of £1, is held on behalf of the Secretary of State for Trade and Industry. BAE Systems inherited the "special" shareholding that was established when British Aerospace was privatised. Major European companies such as Thales and EADS are unlikely to ever be awarded, for example, a position relative to BAE Systems' involvement in the F-35 Joint Strike Fighter programme. Since the creation of BAE Systems the company has steadily increased its investment in, and its revenues from, the US, while continental European companies have made limited moves into that massive market. This group was joined by Spain’s CASA following an agreement in December 1999. Following that decision, DASA instead merged with Aerospatiale to create the European Aeronautic Defence and Space Company (EADS). This move, to create what could be described as a UK company compared to what would have been an Anglo-German firm, made the possibility of penetration of the United States (US) defence market more likely. It was widely anticipated that BAe would merge with Germany’s DASA to form a pan-European aerospace giant, however BAe chose instead to merge with GEC’s defence electronics business. The merger had been agreed on April 27, 1999. It was formed on November 30, 1999 with the merger of British Aerospace (BAe) and Marconi Electronic Systems (MES), the defence arm of The General Electric Company (GEC). . Based in the United Kingdom (UK) the company has extensive worldwide interests, particularly North America. BAE Systems, plc is the world's fourth largest defense contractor [2] and a commercial aerospace products manufacturer. This is due for delivery around 2018. Future Offensive Air System Astute class submarine Bofors Defence
M109 Paladin. M3 Bradley Cavalry Fighting Vehicle. M2 Bradley Infantry Fighting Vehicle. CAESAR advanced artillery system. Advance Gun System (AGS) for next generation United States Navy surface combatants. United Defense
Challenger II. BAE Systems Land Systems
Marinised Harrier, primarily air defence. GR9 is an avionics and weapons upgrade of the standard GR7 to allow carriage of the latest smart weapons, new inertial navigation and Global Positioning Systems. Harrier GR7/GR9 Tornado GR4 BAE Nimrod MRA4 Airbus A400M MBDA (37.5%). Eurofighter Jagdflugzeug GmbH (33%). (20%). Airbus S.A.S. Acoustics countermeasures. Remote minesweepers. Spearfish torpedo. Stingray torpedo. BAe 748. Jetstream. BAe ATP. Avro RJ/BAE 146 family. 2005 - United Defense Industries. 2004 - ALPHATECH. 2004 - DigitalNet Holdings Inc. 2004 - Boeing Commercial Electronics. 2004 - STI Government Systems. 2003 - MEVATEC. 2003 - Advanced Power Technologies, Inc (APTI). 2000 - Lockheed Martin Control Systems (LCMS). 1998 - Tracor. Offshore patrol vessels. Type 45 Destroyer. Royal Navy Future Carrier (CVF). CS&S Naval has completed the reactivation of the Royal Navy's Type 22 Frigates for Romania. Past projects include reactivation of the Upholder class, now reactivated as the Victoria Class submarines for the Canadian Government, and Vanguard class upgrades. CS&S Naval provides maintenance, repairs, minor and major refits for naval vessels. This includes simulator construction and support and operation of the RAF’s North Sea Air Combat Manoeuvring Instrumentation (AMCI) Range. Training Solutions provides a wide range of services. BAE Systems Australia provides the same services as the wider CS&S organization but is based in Australia. Operational Services provides spares and support for BAE Systems products including the Hawk, VC-10, Canberra, Nimrod and Jaguar aircraft as well as naval products. Nimrod MRA4. BAE Hawk. F-35 Joint Strike Fighter. Eurofighter Typhoon. the avionics portions of BAE Systems and Finmeccanica being brought together to form the new SELEX Sensors and Airborne Systems (S&AS) joint venture held by shares of 25% and 75% respectively, with the option for Finmeccanica to later purchase the remaining 25%. the communications systems portions of AMS and BAE Systems being sold to Selenia Communications, a division of Finmeccanica. the UK operations of AMS (minus air traffic control and communication systems) being brought together with the C4ISR division of BAE Systems (minus communication systems) to form the new Integrated System Technologies (Insyte) division of BAE Systems. The remit of this job was strictly set out, including the qualifications (length of time with the company etc), access to staff and information, and independence. A compliance officer was appointed by BAE Systems to ensure the new company followed these requirements and procedures. Other relevant projects were; the Future Scout & Cavalry System (FSCS)/TRACER Program (“FSCS/TRACER Program”), Skynet 5, Astute class Training Programme and MES shipbuilding projects. An example of this was the initial stages of the Joint Strike Fighter programme where MES was involved in Boeing's X-32 project and BAe supported Lockheed Martin's X-35 bid. Due to the competition of BAe and MES in various major defence projects, the company was ordered to set up various "firewalls" to prevent interaction between the former MES and BAe teams on those projects. the new subsidiaries must not automatically receive sub-contracts. BAE Systems must competitively tender sub-contracts, i.e. including external companies) on equal terms. Further these subsidiaries must be available to all potential prime contractors (i.e. The MES shipyards and Marconi Avionics were to be kept as subsidiaries of the new company, with independent financial accounts. The CEO and Chairman must be British. The majority of the board must be British citizens. No foreign person, or persons acting together, may hold more than 15% of the company's shares. |