Subscribe to our free daily newsletters
. Military Space News .

Subscribe to our free daily newsletters

BAE plans defense hub in Australia; as group profits soar
by Staff Writers
London (AFP) Aug 2, 2017

BAE plans defense hub in Australia
Washington (UPI) Aug 1, 2017 - BAE Systems Australia is to build a Defense hub that will manufacture armored vehicles and also consolidate various company businesses on one site, the company announced on Tuesday.

The center is to be located at Fishermans Bend in Melbourne, Victoria.

BAE Systems said in a press release that the facility will be the biggest of its type in the nation and it plans to manufacture the Australian Army's Armed Combat Reconnaissance vehicles there.

As many as 1,000 engineers and technicians to design, develop, deliver and maintain new defense platforms and systems for the Australian Defense Force will work at the center.

In addition to the manufacturing center, the campus will include simulation and training and test facilities.

The hub will also include a globally competitive aerospace business that develops leading edge autonomous systems, electronic warfare, hypersonics and weapons technology. BAE's naval sustainment business will be conducted at Fishermans Bend.

The company said additional details about the center will be released at a later date.

British military equipment maker BAE Systems said Wednesday that first-half net profits surged, boosted by rising government defence spending and the weak pound.

Net profits soared 36 percent to 555 million ($733 million, 620 million euros) in the six months to the end of June, compared with 408 million a year earlier, BAE said in a results statement.

Sales forged almost ten percent higher to stand at 9.565 billion.

"BAE Systems' performance in the first half was consistent with our expectations and guidance for the year," said chief executive Charles Woodburn.

"We have a sound platform for medium-term growth underpinned by a clear and consistent strategy."

He added: "With the expected improvement in the defence budget outlook in a number of our markets, the group is well placed to continue to generate good returns for shareholders."

Underlying profit -- as measured by earnings before interest, taxes, depreciation and amortization (EBITDA) -- rose by 11 percent to 945 million.

However, stripping out the impact of currency fluctuations, EBITDA increased by five percent.

The British company, which makes Astute submarines and Eurofighter warplanes, has been buoyed by the weak pound which makes its exports more attractive for US buyers.

In Wednesday early morning deals, BAE shares rallied 2.8 percent to 624 pence, bucking a downward trend on the London stock market.

Sterling has slumped in value since the June 2016 referendum in favour of Britain leaving the European Union.

Japan's scandal-hit defence chief resigns
Tokyo (AFP) July 28, 2017
Japan's hawkish defence minister resigned Friday over a long-brewing scandal involving the handling of military documents, in a major political blow to Prime Minister Shinzo Abe. Abe, who has seen his popularity plummet in recent weeks over controversies including claims he showed favouritism to a friend in a business deal, immediately apologised to the nation over the saga. "I feel a ke ... read more

Related Links
The Military Industrial Complex at
Learn about the Superpowers of the 21st Century at

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

US successfully tests missile intercept system

S. Korea speeds up US missile defence over North's missile test

Arleigh Burke-class destroyer Ralph Johnson completes builders trials

Yemeni rebel missile shot down near Mecca: Arab coalition

Pentagon alarm over Turkey plan to buy Russian missiles

Lockheed demos deck-launched variant of LRASM

Iran rules out halt to missile tests as tension with US rises

Lockheed receives contract for anti-ship missile production

The flying kettle

Insitu receives contract for Afghan ScanEagle UAS services

Special focus on formation control of unmanned systems

AeroVironment supplying small UAS to Australia

New combat survival radio by General Dynamics

Rockwell Collins to support avionics for 160th 'Night Stalkers' aviation regiment

82nd Airborne tests in-flight communication system for paratroopers

North Dakota UAS Training Center Depends on IGC Satellite Connectivity

Canadian armed forces to receive new machine guns

LOC Performance receives $49.1 million Bradley upgrade contract

Slovakia deploys Saab's Carl-Gustaf M4 weapon

BAE, Gorizioni Group partner on BvS10 all-terrain vehicle

Japan's scandal-hit defence chief resigns

GAO report details sting operation that defrauded DOD surplus program for police

White House to issue executive order on defense industry sourcing

Pentagon trims Pakistan military aid over Haqqani inaction

US returns tiny portion of controversial Okinawa base

Russia expulsions won't deter US 'commitment to allies': Pence

New chief of staff John Kelly a retired Marine general

US vice president Pence starts Baltic tour in Estonia

New method promises easier nanoscale manufacturing

Nanoparticles could spur better LEDs, invisibility cloaks

New material resembling a metal nanosponge could reduce computer energy consumption

How do you build a metal nanoparticle?

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement