Feb 22, 2009
Boeing and defence consortium Euro Art International were among companies awarded contracts worth a total of $817 million so far at a defence exhibition in the United Arab Emirates. The deals worth 3 billion dirhams ($817 million) awarded by the UAE at the show in the capital Abu Dhabi signalled that Gulf Arab defence spending would continue despite economic slowdown and a fall in oil prices. While Boeing will supply spare parts and ground equipment in a deal valued at 373 million dirhams, Euro Art International, a consortium of European planemaker EADS and France's Thales, will supply the COBRA (counter battery radar) system worth 893 million dirhams. Corrected from previous news release. Feb 22, 2009
ITT Corp., Emirates Advanced Investments
Engineering company ITT Corp. and Emirates Advanced Investments said they will jointly pursue business opportunities in the defense and security business. White Plains, N.Y.-based ITT...