Aerospace industry
Yesterday's extraordinary meeting at British Aerospace witnessed a highly charged and defiant show of hands vote, with 111 shareholders opposing the proposed £800 million sale of Rover to BMW, while only 42 were in favour. This comes as a surprise, as directors had already disclosed that they had
Aerospace industry
British Aerospace's (BAe) financial troubles have left the company with a shrinking balance sheet, despite a 1985 rights issue that seemingly bolstered its cash reserves. By 1990, shareholder funds had reached £2.5 billion, but a £1.5 billion decline in the subsequent decade, coupled with a £432
Aerospace industry
The UK Government was placed on the defensive yesterday as Honda, the Japanese car producer, sharply criticized British Aerospace's (BAe) decision to sell Rover to BMW, warning that the move would undermine Japanese investment in Britain. Honda's executive vice president, Yoshihide Munekuni, arrived in London for
Aerospace industry
BMW, the German car maker, has taken a stunning move in the automotive industry by announcing its plan to purchase Britain's Rover Group PLC for £1.7 billion. The acquisition will see BMW pay £1.6 billion in cash to British Aerospace PLC for its 80% stake in
