BAE Systems Inc. (formerly BAE Systems North America) is a major subsidiary of the British defence and aerospace company BAE Systems plc. As per its Special Security Agreement, BAE Systems Inc. operates as a semi-autonomous business unit within BAE Systems controlled at a local level by American management.
BAE has described the rationale for expansion in the US; " is by far the largest defence market with spend running close to twice that of the Western European nations combined. Importantly, US investment in research and development is significantly higher than in Western Europe." The company's 2004 strategy review confirmed a "strategic bias" for expansion and investment in the US. In 2007 BAE Systems Inc. had sales of £7,454 million and EBITA of £741 million. These represent 46% and 45% respectively of BAE Systems' group results.
Read more about BAE Systems Inc.: History, Products, Organisation, Financial Information, Corporate Governance
Famous quotes containing the word systems:
“The skylines lit up at dead of night, the air- conditioning systems cooling empty hotels in the desert and artificial light in the middle of the day all have something both demented and admirable about them. The mindless luxury of a rich civilization, and yet of a civilization perhaps as scared to see the lights go out as was the hunter in his primitive night.”
—Jean Baudrillard (b. 1929)