BAe completes AWADI acquisition ready to build in Asia

BRITISH AEROSPACE has completed the acquisition of Australian defence contractor AWADI for A$50 million ($38 million) (Flight International, 17-23 April).

The acquisition more than doubles the size of BAe's Australian subsidiary and aims to increase the group's export opportunities in South-East Asia, says BAe chief executive Dick Evans.

AWADI has sales of around A$150 million and a workforce of 700, with a forward order book worth A$300 million. This will join with BAe Australia's 900 employees and sales of A$115 million.

AWADI was previously owned 70% by the country's privatised aerospace group AWA and 30% by a pension fund.

Source: Flight International