British Aerospace Plc agreed to sell its British Aerospace Space Systems Ltd unit to Matra Marconi Space for ?56m. The unit had turnover of ?151m in the year to end-December 1993, consolidated net assets of ?56m, including cash of around ?20m. Chief executive Dick Evans said the deal, under discussion for some time, was a further step towards concentrating the firm’s resources on defence and aerospace; it will maintain an interest in the Orion satellite pact.
Content from our partners
