The South Korean giant, Samsung Group has abruptly agreed to sell its majority 32.35% stake in its defence arm to the Hanwha group.
Hanwha’s bid to acquire Samsung Techwin for an estimated USD759 million is expected to be completed in the first half of 2015, subject to regulatory approval.
Samsung Techwin executive vice-president Han Soo Jung stated on 4 December: ‘The Hanwha group’s investment in Samsung Techwin will enable us to continue to research, design and develop innovative, market-leading solutions that will create new business opportunities and ensure our future growth.’
Samsung Techwin’s revenues amounted to $2.7 billion last year.
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The new Bushmasters will be used by the Australian Army’s second long-range fires regiment, to be based at the Edinburgh Defence Precinct in South Australia as part of the 10th Fires Brigade.
The British Army’s Land Mobility Programme (LMP) has struggled to make it to competition but there are hopes progress will be made this year.
The aid stations are designed to be mounted onto trucks, such as the Rheinnetall HX family of vehicles, and will be in ballistic protected and unprotected versions.
The contract is for transmissions for the Joint Systems Manufacturing Center (JSMC) in Lima, Ohio for new tanks and overhaul and repair activities at Anniston Army Depot.
Jerusalem’s air defence capabilities procurement efforts will receive up to $190 million.
In the medium-term Lithuania has committed US$1.3 billion which includes Javelin ant-tank missiles, Joint Light Tactical Vehicles (JLTVs), Black Hawk helicopters, missile systems and missiles.
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