11/30/2020, 12:14 PM (Source: TeleTrader)
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BAE Systems wins £2.4B British arms contract

BAE Systems plc was awarded on Monday a £2.4 billion government contract by the United Kingdom to supply the British armed forces.

The new agreement will supersede the current contract, which is set to expire in 2022. BAE stated it will help sustain 4,060 jobs and enable it to refurbish and upgrade its manufacturing lines.

"This vital multi-billion pound contract will provide our service men and women with fire power on the front line for years to come whilst investing in British industry, British jobs and British infrastructure," British Defence Minister Jeremy Quin said.

Breaking the News / MD