Posts Tagged ‘BAE Systems’

Mixed results for Filton aerospace and defence firms

Posted on Wednesday 27th February 2013 at 1:19 pm by SH (Editor)

Reception for Airbus and BAE Systems sites at Filton, Bristol.

Global aerospace and defence firms with bases in Filton have posted mixed financial results over the past fortnight.

BAE Systems reported a 6.4% drop in earnings before interest and tax to £1.895 billion, which was lower than market predictions.

The company, which was recently planning to merge with Airbus parent firm EADS, said defence cuts in Europe and the US had led to a fall in profits.

In the UK, the defence market has stabilised following changes to programme priorities outlined in 2010 through the UK government’s Strategic Defence and Security Review, says the company.

Meanwhile, EADS itself reported a 19% rise in net profit for 2012, with revenues rising 15% to €56.48bn.

Its Airbus division, which employs more than 4,000 staff in Filton, reported a 17% increase in revenue to €38.6bn (£33.4bn) for the year to 31st December 2012 – up from €33.1bn (£28.7bn) last year.

Engineers at Filton were last year blamed for a design fault on the wings of the A380 passenger aircraft that is costing the company hundreds of millions of euros to fix.

Continued delays in the programme to build its new A350 aircraft could impact profits next year, warn analysts.

Finally, GKN, whose Aerospace division has factories at Filton and Ester Compton, yesterday revealed record profits – but predicted a difficult start to 2013 as demand in Europe declines.

The manufacturer saw a 19% leap in pre-tax profit to £497 million in its full year results for 2012, up from £417 million.

Last year, GKN purchased the aerospace components arm of Swedish industrial group Volvo.

UK_Best stuff in your city_468x60

BAE Systems staff hit the button for local services charity

Posted on Wednesday 30th January 2013 at 2:47 pm by SH (Editor)

BAE Systems Filton charity donation to the SSAFA (Avon and Severnside branch).

Generous employees at BAE Systems (Filton) have raised £2,100 towards the activities of the Avon and Severnside Branch of the Soldiers’, Sailors’ and Airmens’ Families Association (SSAFA) Forces Help.

The money was raised through several fundraising events under the charity challenge partnership whereby employees’ efforts are matched by their company’s contribution to their chosen charity.

Charity donations came from all sections of BAE staff working at the Filton site and Andrew Easton, BAE Systems site lead in their Defence Information Team said:

“Our workforce and the information team really enjoyed the activities over the last two years, knowing that the work SSAFA does is so vital for the families and loved ones across the Armed Forces community.”

James Orme, SSAFA’s local Branch chairman said:

“BAE Systems and its workforce have been inspirational in their giving and we are very grateful for this cheque which represents the company’s matched donation to our funds. In times of economic drawback we have been greatly heartened at the scale of their kindness.”

Photo (L-R): Barry Horne (SSAFA Branch Secretary), James Orme (SSAFA Branch Chairman), Andrew Easton (BAE Systems Filton site leader Defence Information Team) and Pippa Dann-Ward (BAE Systems site charity coordinator).

Airbus and BAE Systems in talks over possible merger

Posted on Friday 14th September 2012 at 11:45 pm by SH (Editor)

Reception for Airbus and BAE Systems sites at Filton, Bristol.

EADS, parent company of Airbus, and BAE Systems – both companies with major bases in Filton – have announced that they are in talks over a possible merger.

The news was revealed in a statement to the Stock Exchange on Wednesday (12th September) following a sudden 8% rise in the price of BAE Systems’ shares.

Airbus employs around 4,000 people at its Filton site, which specialises in wings, landing gear, fuel systems and composite technology. Defence manufacturer BAE Systems employs around 700 staff at Filton and other locations in Bristol.

EADS and BAE Systems are both major stakeholders in missile developer and producer MBDA, which also has a base at Filton.

The merger would be implemented through the creation of a dual listed company structure, under which both companies would operate as one group by means of equalisation and other agreements but would be separately listed on their existing stock exchanges.

Should the deal go through, BAE would own 40% and EADS 60% of the new firm.

A spokesperson for BAE said:

“The potential combination would create a world-class international aerospace, defence and security group with substantial centres of manufacturing and technology excellence in France, Germany, Spain, the UK and the USA.”

Experts say the deal would benefit BAE Systems by giving more balance to its business, diluting the current over-dependence on defence work in the UK and US.

Airbus is currently constructing a new Aerospace Park at its Filton site, a project that includes the restoration of Pegasus House.

Filton Airfield, owned by BAE Systems, is due to be closed at the end of 2012 and looks likely to be sold off for housing and industrial use, subject to the approval of South Gloucestershire Council’s Core Strategy planning blueprint by an independent inspector.

Filton Airfield equipment put up for sale as closure looms

Posted on Thursday 5th July 2012 at 10:28 pm by SH (Editor)

Radar equipment at Filton Airfield, Bristol - offered for sale.

Air traffic control equipment currently in use at Filton Airfield has been put up for sale on an asset disposal website.

BAE Systems, owners of the historic airfield, announced in April 2011 that they intended to close it at the end of 2012.

The move forced South Gloucestershire Council to rethink its Core Strategy, a planning document that sets out the district’s development vision until 2026. The latest version, currently undergoing examination by a Government inspector at a public inquiry in Kingswood, foresees 2,600 homes being built on land currently occupied by the airfield. In addition to the housing, 55ha of the area would be reserved for employment uses.

A campaign group, Save Filton Airfield, is fighting to keep the airfield open and representatives of the group addressed the Core Strategy public inquiry when the matter was discussed there a fortnight ago. Earlier this year, the group staged a protest march that was attended by around 200 people.

The equipment being advertised for sale (in 47 lots) includes radar systems, navaid systems, airfield lighting, radio communications and general airfield equipment. According to the website, bids must be made by 5am on 31st December 2012.

More info: BAE System’s Filton Airfield, Air Traffic Control Systems


The Bradley Stoke Journal magazine - your MONTHLY local newspaper.
1st Stop Accountancy & Tax Services Bristol Ltd.