Subscribe to our free daily newsletters
. 24/7 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

Let's cut them off from access to Space

NASA Offers Space Station as Catalyst for Discovery in Washington

Astronauts gear up for space with tough Russian training

Astronauts grow cucumbers in space to help scientists understand root growth

India looks to more launches with new facility from 2018

Sea Launch to be modernized for Russia's Soyuz-5 carrier rocket

Navy completes testing fixes on electro-magnetic launch systems

ISRO Develops Ship-Based Antenna System to Track Satellite Launches

For Moratorium on Sending Commands to Mars, Blame the Sun

Tributes to wetter times on Mars

Opportunity will spend three weeks at current location due to Solar Conjunction

Curiosity Mars Rover Begins Study of Ridge Destination

China develops sea launches to boost space commerce

Chinese satellite Zhongxing-9A enters preset orbit

Chinese Space Program: From Setback, to Manned Flights, to the Moon

Chinese Rocket Fizzles Out, Puts Other Launches on Hold

Airbus DS to expand cooperation with Russia

ASTROSCALE Raises a Total of $25 Million in Series C Led by Private Companies

LISA Pathfinder: bake, rattle and roll

A Final Farewell to LISA Pathfinder

ARCTEC receives contract for Air Force radar sites in Alaska

Reality check for 'wonder material'

Fundamental breakthrough in the future of designing materials

Engineering on a blue streak

A New Search for Extrasolar Planets from the Arecibo Observatory

Gulf of Mexico tube worm is one of the longest-living animals in the world

Molecular Outflow Launched Beyond Disk Around Young Star

Breakthrough Starshot launches tiny spacecraft in quest for Alpha Centauri

New Horizons Video Soars over Pluto's Majestic Mountains and Icy Plains

Juno spots Jupiter's Great Red Spot

New evidence in support of the Planet Nine hypothesis

NASA's New Horizons Team Strikes Gold in Argentina

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