BAE Systems and Finmeccanica strengthens AMS as a leading European defence electronics and air traffic management company
19 Dec 2001
On 18th December 2001, BAE Systems and Finmeccanica created the new AMS Group signing the final documents completing the transaction.
As a result, Combat and Radar Systems Limited (CaRS) previously part of BAE Systems has joined AMS today. In addition, the missile activity from transferred to the newly created European missiles company, MBDA. A joint Venture between FINMECCANICA, BAE Systems and EADS.
AMS will continue to work with the new European missiles company on existing joint projects and on joint developments for the future. AMS and MBDA have agreed that each will have preferred partner status with the other.
AMS is a major European joint venture company owned equally by Finmeccanica and BAE Systems. It specialises in designing, manufacturing and supplying radars and mission critical command, control and management systems to defence forces and civil air traffic authorities throughout the world.
The company is estimated to have an annual turnover of Euro1.2 billion and a healthy order book of Euros 4 billion which underpins its ambitious growth plans for the next four years. In addition it has an established international customer base in over 100 countries.
David Singleton, AMS CEO said; 'As a result of these transactions AMS will be more dominant in its chosen markets through increased product range and market access, enhanced competitive positioning and improved market share.'
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