United Defense
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| Missing image United_Defense.jpg | |
| Type | Public (NYSE:UDI (http://www.nyse.com/about/listed/lcddata.html?ticker=UDI)) |
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| 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.
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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:
- Advance Gun System (AGS) for next generation United States Navy surface combatants
- CAESAR advanced artillery system
- M2 Bradley Infantry Fighting Vehicle
- M3 Bradley Cavalry Fighting Vehicle
- M109 Paladin
- M113 Family
- Crusader
- Mk41 Vertical Launching System (VLS)
- Bofors Defence
- 155mm Field Howitzer
- Ammunition
- Guns and turrets
External links
- United Defense Industries website (http://www.uniteddefense.com/)
- BBC News: BAE Systems to buy US rival UDI (http://news.bbc.co.uk/1/hi/business/4324733.stm)
- businesswire.com: CFIUS Approval for Proposed Acquisition by BAE Systems (http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20050418006246&newsLang=en)