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Wednesday, Aug 21
Northrop Grumman attempts to salvage German Euro Hawk purchase
- "We're making a lot of progress." That, in a nutshell, is the latest from Northrop Grumman's (NOC +0.6%) ongoing fight to keep Germany on board with a planned €1.2B investment in four Euro Hawk drones.
- The initiative was effectively shelved after the German government determined it would cost between €500-600M to secure aviation approval.
- NOC thinks the certification cost is more like €180M and has "provided over 4K technical documents, sent engineers to a German air base to provide German authorities with detailed insight into the system and opened the Euro Hawk testing activities to German certification authorities," Reuters says.