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January 13, 1997

HEADLINE NEWS

French Merger Makes Progress

HEADLINE NEWS

Raytheon Pursues Double Acquisition

HEADLINE NEWS

Iridium Marks Dawn Of New Industry

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HEADLINE NEWS

French Merger Makes Progress

PARIS The planned Aerospatiale/Dassault Aviation merger agreement shortly will be submitted for approval to the French privatization commission. Although no precise schedule has been determined yet, the consolidation move is expected to be implemented by mid-year.

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HEADLINE NEWS

Raytheon Pursues Double Acquisition

NEW YORK Raytheon is engaged in a bidding war for Hughes Electronics even as the company presses to close its acquisition of Texas Instruments’ defense business in the second quarter. Determined to remain a dominant military contractor amid a rapidly consolidating aerospace industry, the company has offered at least $9 billion for the General Motors subsidiary, according to industry officials.

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HEADLINE NEWS

Iridium Marks Dawn Of New Industry

WASHINGTON The Iridium venture’s first satellites were poised last week to kick off a new era of space-based communications networks designed to span the globe. If all goes according to plan, dozens of satellites worth billions of dollars will be launched into orbit, making it possible before the end of 1998 for consumers to place calls from just about anywhere using small, portable telephones.

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HEADLINE NEWS

Sub-Based Missile Tracks Mobile Scuds

WASHINGTON A prototype of the Sea Ferret, a small, sea-launched cruise missile, was successfully controlled by a submarine, a special operations reconnaissance team ashore and an Army helicopter during a single operation last month along the coast of southern California.

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AIR TRANSPORT

Airbus Agreement Expected Soon

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AIR TRANSPORT

French Court Weighs Charges Against Airbus

PARIS A French court investigating the crash of an Air Inter A320 in 1992 is seeking to determine whether to bring charges of involuntary homicide against Airbus Industrie. A former top official of the consortium has been subpoenaed to testify before the Strasbourg Court of Justice.

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