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Wednesday, April 04, 2012

BAE Systems signs Saudi-Eurofighter deal

[Eurofighter Typhoon]British defence contractor BAE Systems said a contract to build 48 Typhoon aircraft in Britain for the Saudi Arabian air force had been signed but changes to the price of the deal had yet to be agreed.

BAE had expected changes to the terms of the deal to be signed off in 2011, but it warned in January this year that talks over proposed adjustments to the final assembly of the last 48 of the 72 Typhoon aircraft would continue into 2012 and could hit 2011 profit.

The proposed changes -- such as the creation of a maintenance facility in Saudi Arabia, the addition of new capability to some aircraft and the formalisation of price changes -- could affect the price of the deal.

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