Don't miss

Replay


LATEST SHOWS

THE POLITICAL BRIEF

French labour reform: Macron's first push to fix the economy

Read more

THE OBSERVERS

The perilous journey from Libya to Italy, told by a migrant; and capoeira for former child soldiers in central Africa

Read more

IN THE PAPERS

Manchester 'united' in its defiance against terrorism

Read more

THE DEBATE

Manchester attack: What reponse after latest act of terror? (part 2)

Read more

THE DEBATE

Manchester attack: What response after latest act of terror? (part 1)

Read more

BUSINESS DAILY

China's credit rating cut over debt worries

Read more

ENCORE!

Cannes 2017: Al Gore 'The modern climate movement was launched here'

Read more

MEDIAWATCH

Manchester, United

Read more

ENCORE!

TV series 'Top of the Lake: China Girl' screened at Cannes

Read more

Americas

Kirchner to nationalise a US run aircraft factory

Latest update : 2009-03-17

Argentina's President Cristina Kirchner decided to re-nationalise a factory run by US aircraft giant Lockheed. If the Congress approves the bill, Argentina will pay 64 million dollars for the factory, which was privatised in 1995.

AFP - Argentine President Cristina Kirchner announced Tuesday she has submitted a bill to re-nationalize an aircraft manufacturer operated by US aeronautics giant Lockheed Martin.
  
Speaking in the industrial city of Cordoba, Kirchner said she had signed off on a bill "with which we are going to transfer to the state all (Lockheed's) shares," returning the factory to national ownership.
  
Argentina privatized the Cordoba-based Fabrica Militar de Aviones in 1995 in a deal with Lockheed Martin, which used the factory to upgrade IA-63 Pampa jet trainer aircraft.
  
If the bill is approved by the Congress, Argentina will pay out 64 million dollars for a company that has annual revenues of 50 million dollars.
  
Lockheed Martin Aircraft Argentina S.A. employs 1,200 people and provides depot maintenance for the Argentine air force and military and commercial customers, the company said on its website.

Date created : 2009-03-17

COMMENT(S)