FAO Newsdesks - Immediate release Thursday 12th May 2005
BAE Systems buys into continuing war strategy
BAE Systems are to hold an EGM this Friday, 13th May 2005, to finalise a merger valued at $4.2 billion with United Defense of the US. CAAT supporters will be attending the meeting to challenge members of the board.
United Defense produce land and sea systems, foremost among them the Bradley fighting vehicle, described in a recent press release as playing "a centerpiece role in Operation Iraqi Freedom".
Kevin Mullen of Campaign Against Arms Trade said "This further Americanisation of once British Aerospace is an investment to capitalise on the current war in Iraq. While BAE Systems are settling shareholder issues and accounting niceties it is clear that the profits from this deal will rise with drawn out conflict in Iraq and a prolonged coalition occupation."
He continued "Individual and institutional shareholders may think that they are merely wielding a rubber stamp on Friday. They should realise that future dividends depend on more US led wars; they are gambling on another Iraq to bolster long term profits."
For more information please contact: CAAT Press Office on 020 7281 0297