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Minister for Defence congratulates BAE Systems Australia on acquisition of Tenix Defence.



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Minister for Defence Media Mail List

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Saturday, 28 June 2008 073/2008

The Minister for Defence, The Hon Joel Fitzgibbon MP, today welcomed the news that BAE Systems Australia’s acquisition of Tenix Defence is now complete.

“I congratulate BAE Systems Australia for their investment in the Australian defence industry. This acquisition will build on the existing strong and cooperative relationship between Defence and BAE Systems,” Mr Fitzgibbon said.

This acquisition follows the recent decision by the Foreign Investment Review Board allowing the sale, and makes BAE Systems Australia the largest defence company in Australia.

“The acquisition provides BAE Systems Australia with a broad range of defence capability areas including naval shipbuilding, armoured vehicles, aircraft support, systems integration and electronic warfare,” Mr Fitzgibbon said.

To protect Defence interests, BAE have provided specific assurances through a Deed with Defence relating to the amphibious ships contract, agreed between the Commonwealth and Tenix in October 2007.

The Deed also prevents BAE Systems from buying ASC Pty Ltd (formerly the Australian Submarine Corporation) if it is sold by the Australian Government.

Media contacts: Christian Taubenschlag (Joel Fitzgibbon: 02 6277 7800 or 0438 595 567 Defence Media Liaison: 02 6265 3343 or 0408 498 664

www.defence.gov.au

MINISTER FOR DEFENCE CONGRATULATES BAE SYSTEMS AUSTRALIA ON ACQUISITION OF TENIX DEFENCE