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BAE Systems secures partnership agreement with hellenic aerospace industry

15 Mar 2006 | Ref. Ref: 062/2006

Athens, Greece -- BAE Systems has signed a partnership agreement with Hellenic Aerospace Industry SA (HAI) of Greece, under which the two companies will examine potential areas of co-operation in both the Greek domestic and export markets.

The new agreement commits the two companies to establishing a joint working group to examine potential partnership opportunities in a number of business areas. This includes electronic warfare systems, Unmanned Aerial Vehicles (UAVs) and associated technologies plus aerostructures and composite structure manufacturing, among others.

The agreement was signed at the HAI facility in Tenagra, Greece, by Mike Mendoza, BAE Systems’ managing director for international partnerships and Tassos Philippakos, chief executive officer of HAI.

Welcoming the agreement, Tassos Philippakos comments, “This agreement broadens the spectrum of HAI’s technological, productive and research capabilities in innovative sectors like electronic systems in which BAE Systems has advanced technological know-how and manufacturing experience.”

Mike Mendoza adds, “Mutually beneficial partnerships are central to BAE Systems global business philosophy. We are delighted to enter into this strategic alliance with HAI, a leading aerospace and defence company, and look forward to a long term relationship covering a wide range of defence and aerospace technologies.”

BAE Systems, with a strong presence in both Europe and the United States, has built a significant capability to deliver the widest range of military aircraft, combat vehicles, surface ships, submarines, radar, avionics, communications, electronic and guided weapon systems to its customers.

In addition to becoming involved in the areas of product development and manufacturing, HAI will also benefit from BAE Systems’ knowledge and experience of logistics support, network enabling capabilities plus aircraft modification and upgrade.

About BAE Systems

BAE Systems is the premier transatlantic defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With more than 100,000 employees worldwide, BAE Systems’ sales exceeded GB £15.4 billion (US$28 billion) in 2005.

About Hellenic Aerospace Industry S.A. (HAI)

Hellenic Aerospace Industry is the largest state owned defense and aerospace industry in Greece, with main activities in manufacturing and support of military and civil aircraft, engines and avionics, in defense electronic and optoelectronic systems as well as in satellite communication networks.

For further information, please contact:

John Neilson, BAE Systems
T: +44 1252 384795 M: +44 7802 337704

Barney O’Kelly, BAE Systems
T: +44 1252 384717 M: +44 7803 667434

Issued by:

BAE Systems, Farnborough, Hampshire GU14 6YU, UK
Tel: +44 (0) 1252 384605 Fax: +44 (0) 1252 383947
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