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Wed, May. 21, 8:30 AM
- Raytheon (RTN) and Lockheed Martin (LMT) are vying to win the deal to provide Germany's future air-defense system.
- Raytheon is the incumbent but Lockheed Martin has been involved in the development of the Medium Extended Air Defense Systems (Mead) along with European missile consortium MBDA, which comprises Airbus (EADSY), BAE Systems (BAESF) and Finmeccanica (FINMF).
- The German government is reviewing its plans after the U.S. decided to stop financing Mead beyond the development stage.
- Raytheon and Lockheed Martin are also competing to win a deal from Poland, and with the onset of the Ukraine crisis, the companies' battle is likely to be repeated in other European countries as well.
Dec. 2, 2011, 8:50 AMNew Italian PM Monti chalks up an early victory, getting the scandal-plagued CEO of Finmeccanica (FINMY.PK) to resign. The defense contractor - 30% owned by the state - is a leading symbol of the cozy and corrupt links between business and the government. Getting rid of the CEO is a step, but hardly changes the system. | Comment!
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