BAE Ready to Boost £1 Billion Investments Amid Defense Boom
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BAE Systems Plc is ready to step up capital investment beyond the £1 billion ($1.3 billion) it spends annually, as the UK’s biggest military contractor prepares for a “super-cycle” in European defense spending, according to Chief Financial Officer Bradley Greve.
“We’re spending at record levels already,” Greve said in an interview with Bloomberg Television’s Tom Mackenzie. “We need to see the government spending plans, and they are plans right now, convert to actual orders. Once those orders come in we are ready to build capacity to deliver those.”