Defence: Merger mania won't go away
The year ahead: What 1999 is going to mean for six crucial stock market sectors
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.FOR BRITAIN'S defence and aerospace industries, D-Day approaches. This year they "consolidate or die", to use the words of George Robertson, the Secretary of Defence.
The big question remains with whom to consolidate. British Aerospace and Germany's Daimler Chrysler Aerospace look to be too far down the runway to pull out of their merger. The unknown quantity is GEC. Lord Simpson, its chief executive, has decided to hive off the Marconi defence electronics business from its industrial electronics and telecoms interests.
But who will Marconi team up with? It could yet become part of a trilateral arrangement with BAe and Dasa, but the more likely outcome remains some form of transatlantic tie-up with Lockheed Martin or Northrop Grumman.
There will also be consolidation in the armoured vehicles business. GKN and Alvis have already agreed to put their land vehicles businesses together, leaving Vickers' Challenger tanks division out in the cold.
Baron Buysse, the new chief executive at Vickers, will grasp the nettle early this year - again the choice is between joining a UK alliance or pairing up with a US partner such as United Defense Industries.
On the civil aircraft front, Airbus Industrie will be lucky to achieve its transformation into a single corporate entity before 1999 is out. The deadline has already slipped by six months. As for the airline industry, watch out for further corporate action among the big flag carriers.
There has been persistent speculation about how much longer Bob Ayling will stay as chief executive of British Airways. A move into politics looked like a natural progression but now that his ally Peter Mandelson is gone and Geoffrey Robinson has given businessmen a bad name in Westminster, this looks a less obvious career change.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments