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Wednesday, October 14, 2009

Scandal-hit BAE wins Saudi contract

Eurofighter TyphoonBritish defense giant BAE Systems, locked in a legal battle with Britain's Serious Fraud Office over arms sales to Africa, has won a contract with Saudi Arabia to service 72 Typhoon strike jets it is buying from Eurofighter.

The three-year contract, which includes training Saudi pilots and technicians in the United Kingdom, could be worth as much as $800 million.

The Saudi deal gave BAE a morale-boosting shot in the arm as it grappled with the investigation by British authorities into allegations the company made secret payments of some $160 million to South African politicians to secure a $3.6 billion contract for Hawk trainer jets in 1999.

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