Foster's a target after £1.6bn bid rejected

Foster’s yesterday left itself vulnerable to a possible bid from another global brewer by rejecting a £1.6billion bid for its wine business.

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BAE AND ROLLS ROYCE CASH IN ON UK-INDIA ARMS DEALS

ABOVE: BAE and Rolls Royce will benefit from a £700m deal to supply Hawk jets to the Indian air force

This agreement will bring significant economic benefits to both our countries

David Cameron, prime minister

29th July 2010

By Daily Star Reporter

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DEFENCE firms BAE Systems and Rolls-Royce cashed in yesterday on a UK drive to boost trade links with India.

They sealed a £700million agreement to supply Hawk trainer jets to the Indian military.

BAE signed a £500m deal to provide 40 Hawks while Rolls unveiled a £200m contract to build Adour engines for the jets, which India will use to train pilots to fly supersonic fighters.

BAE announced the deal as David Cameron toured a Hindustan Aeronautics site in Bangalore.

India is one of the world’s biggest defence markets. The Government is also planning to grant licences to civil nuclear firms to export to India, which could open up business prospects potentially worth billions for nuclear contractors like Rolls and specialist services group Serco.

Mr Cameron said: “This agreement will bring significant economic benefits to both our countries.”

India had ordered 66 Hawk jets from BAE in 2004 and yesterday’s follow-up deal was the first among a series of bilateral trade agreements to be signed during Cameron’s visit.

The contract will support around 200 jobs in the UK.

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