IN BRIEF: Leonardo And BAE Systems Win UK RAF Typhoon Contract

Leonardo Spa - Italian aerospace and defence firm - Wins GBP317 million contract to develop UK ...

Alliance News 4 September, 2020 | 6:37AM
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Leonardo Spa - Italian aerospace and defence firm - Wins GBP317 million contract to develop UK Royal Air Force's Eurofighter Typhoons along with BAE Systems PLC. The contract is to develop active electronically scanned array European common radar system mark 2 to a standard that can be integrated on to RAF Typhoons.

Leonardo says: "It will sustain more than 600 highly skilled jobs across the country, including more than 300 at Leonardo's site in Edinburgh, over 100 electronic warfare specialists at the company's site in Luton, and 120 engineers at BAE Systems' site in Lancashire. The ECRS Mk2 is a multi-functional array that will give UK Typhoons a world-leading electronic warfare capability, in addition to traditional radar functions, including wide band electronic attack."

Current stock price: Leonardo EUR5.70; BAE Systems 510.00 pence

Year-to-date change: Leonardo down 45%; BAE down 9.7%

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
BAE Systems PLC 397.00 GBX -2.07
Leonardo SpA 4.09 EUR -0.51

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