Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Rwandan president claims 'no problem with France'

Read more

EYE ON AFRICA

Paul Kagame visits UNESCO HQ in Paris

Read more

MEDIAWATCH

Flamboyant US Congressman's Instagram Lands Him in Bother

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 2)

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 1)

Read more

#TECH 24

Drone vs. drone

Read more

FRANCE IN FOCUS

The future of agriculture

Read more

REVISITED

Yalta, the symbol of a new Cold War?

Read more

#THE 51%

Women in the workforce: IMF says closing the gender gap makes economic sense

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)