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Thursday, Aug 29
Northrop to buy Qantas' defense business
- Northrop Grumman (NOC) has agreed to acquire Qantas Airways' (QUBSF.PK) defense unit, which provides support for customers such as the Royal Australian air force and services planes that transport government dignitaries.
- The deal is part Northrop's efforts to boost its international business amid defense cuts in the U.S. Financial details weren't disclosed.
- Meanwhile, Northrop yesterday won two orders worth $66M in total, one for the U.S. Navy and the other for the French Air Force.