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United Defense

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United Defense
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United_Defense.jpg


Type Public (NYSE:UDI (http://www.nyse.com/about/listed/lcddata.html?ticker=UDI))
Slogan Changing the future of Defense™
Founded 1941
Location Arlington, Virginia
Key people William E. Conway, Jr. (Chairman)
Thomas W. Rabaut (President, CEO and Director)
Employees 5,100
Products combat vehicles, artillery, naval guns, missile launchers and precision munitions
Web site www.uniteddefense.com


United Defense Industries (UDI) is a United States defense contractor with its corporate headquarters in Arlington, Virginia. It produces caterpillar tracked vehicles and gun systems.

Contents

History

The company started as a division of the agricultural machine business, Food Machinery Corporation (FMC), when they won a US government contract to build LVTs and became a weapon manufacturer during World War II. FMC later spun the defense business off as its own company.

In September 2000, UDI purchased Bofors Weapon Systems AB of Sweden, subsequently renamed Bofors Defence.

UDI was subject to a takeover bid by rival General Dynamics in 1997 but instead chose a (lower) bid from venture capital firm the Carlyle Group. The Carlyle Group floated the company in 2001 but retained a share of the company.

BAE Systems acquisition

On March 7 2005 UK-based defence contractor BAE Systems announced it was to acquire UDI for $3.974 billion (2.1 billion). This followed expressions of interest from companies including Northrop Grumman.

BAE Systems may group UDI with its UK-based BAE Systems Land Systems to form a major land systems business. BAE Systems Land Systems was formed in 2004 by the merger of BAE Systems' Royal Ordnance division with newly acquired Alvis Vickers, itself snatched from General Dynamics in the final stages of their acquisition of the company.

BAE Systems' bid was refered to the Committee on Foreign Investment in the United States (CFIUS) to ensure there were no national security implications of the sale. The CFIUS granted approval of the deal in April 2005.

Products

United Defense products include:

External links

sv:United Defense

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