UK: LACK OF FUNDING THREATENS BOWMAN PROJECT

Article Abstract:

The Bowman project, an UK Ministry of Defence (MoD) programme to link air, sea and land forces by a digitalised battlefield communications network, is in danger of collapsing unless the ministry provides additional funding, the leading contractor has warned. BAE Systems said unless new funding was provided soon, it would stop development work and lay off staff. BAE had put in an offer to complete the project for GB[pound] 1.7bn, less than half the originally estimated cost of GB[pound] 3.9bn, and if successful in its bid would agree to a fixed price contract. The project is already behind schedule and the MoD is considering putting it out to tender again.

Government regulation (cont), Military Electronics, BAE SYSTEMS PLC, BAE Systems (Farnborough, United Kingdom), Military electronics industry

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UK: GLOBAL TELEMATICS FLOAT IS OFF

Article Abstract:

Owing to the current volatile nature of the stock market, the GB[pound] 200mn flotation of electronic vehicle tracking business Global Telematics has been cancelled indefinitely by its French co-owner Thomson-CSF. Thomson owns Global Telematics jointly with European Telecoms.

France, Financial management, Other Communications Equipment Manufacturing, Antishoplifting Devices, Management, Brief Article, Thales S.A., Security systems industry

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UK: PRESSAC BUYS WH SMITH & SONS

Article Abstract:

East Kilbride, UK-based mobile phone parts manufacturer, WH Smith & Sons, is being acquired in a GB[pound] 42mn deal by electrical and electronic components business, Pressac.

Asset sales & divestitures

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