Editing BAE Systems (section)

===2000s===
BAE Systems' first annual report identified Airbus, support services to militaries and integrated systems for air, land and naval applications as key areas of growth. It also stated the company's desire to both expand in the US and participate in further consolidation in Europe. BAE Systems described 2001 as an "important year" for its European joint ventures, which were reorganised considerably. The company has described the rationale for expansion in the US; "[it] is by far the largest defence market with spend running close to twice that of the Western European nations combined. Importantly, US investment in research and development is significantly higher than in Western Europe."<ref>{{cite web |url=http://production.investis.com/investors/news/rp/rp2001/ar00/ar00.pdf|archive-url=https://web.archive.org/web/20071127160425/http://production.investis.com/investors/news/rp/rp2001/ar00/ar00.pdf|archive-date=27 November 2007|title=BAE Systems 2000 Annual Report |access-date=5 October 2007 |publisher=BAE Systems |page=6}}</ref> When [[Dick Olver]] was appointed chairman in July 2004 he ordered a review of the company's businesses which ruled out further European acquisitions or joint ventures and confirmed a "strategic bias" for expansion and investment in the US.<ref>{{Cite news |first=Peter |last=Spiegel|title=Oil or missiles, the constant is power|work=Financial Times|date=7 December 2004}}</ref> The review also confirmed the attractiveness of the land systems sector and, with two acquisitions in 2004 and 2005, BAE moved from a limited land systems supplier to the second largest such company in the world. This shift in strategy was described as "remarkable" by the ''[[Financial Times]]''.<ref name="baelandshift">{{Cite news |first=Peter |last=Spiegel|title=BAE prepares for increase land war spend|work=Financial Times|date=25 June 2005}}</ref> Between 2008 and early 2011 BAE acquired five [[Computer security|cybersecurity]] companies in a shift in strategy to take account of reduced spending by governments on "traditional defence items such as warships and tanks".<ref>{{Cite news |title=BAE switches its focus from tanks and warships to cyber security |author=Robertson, David |newspaper=[[The Times]] |date=15 January 2011}}</ref>

In 2000 [[Matra Marconi Space]], a joint BAE Systems/Matra company, was merged with the space division of DASA to form [[Astrium]]. On 16 June 2003 BAE sold its 25% share of Astrium for £84&nbsp;million; however, due to the lossmaking status of the company, BAE Systems invested an equal amount for "restructuring".<ref>{{Cite news |first=Mark |last=Odell |title= BAE agrees new deal for Astrium |work=Financial Times |page= 15 |date= 1 February 2003}}</ref> BAE Systems sold its 54% majority share of [[BAE Systems Canada]], an electronics company, in April for CA$310 (approximately £197&nbsp;million as of December 2010).<ref name="acquisitondisposal">{{cite web |url=http://bae-systems-investor-relations.production.investis.com/strategy-and-performance/acquisitions-and-disposals.aspx |archive-url=https://web.archive.org/web/20110303222216/http://bae-systems-investor-relations.production.investis.com/strategy-and-performance/acquisitions-and-disposals.aspx |archive-date=3 March 2011 |title=Acquisitions and Disposals|publisher=BAE Systems plc |access-date=22 December 2010}}</ref> In November 2001, the company announced the closure of the Avro Regional Jet ([[BAe 146|Avro RJ]]) production line at [[Woodford, Cheshire|Woodford]] and the cancellation of the Avro RJX, an advanced series of the aircraft family, as the business was "no longer viable".<ref>{{Cite press release |title=BAE SYSTEMS closes the RJX Programme |publisher=BAE Systems plc |date=27 November 2001 |url=http://www.baesystems.com/Newsroom/NewsReleases/2001/press_27112001.html |access-date=4 October 2007 |archive-url= https://web.archive.org/web/20071020052514/http://baesystems.com/Newsroom/NewsReleases/2001/press_27112001.html |archive-date= 20 October 2007 |url-status= live}}</ref> The final Avro RJ to be completed became the last British civil airliner. In November 2001 BAE sold its 49.9% share of [[Thomson Marconi Sonar]] to Thales for £85&nbsp;million.<ref name="acquisitondisposal"/> A further step of European defence consolidation was the merger of BAE's share of [[Matra BAe Dynamics]] and the missile division of Alenia Marconi Systems (AMS) into [[MBDA]] in December. MBDA thus became the world's second largest missile manufacturer.<ref>{{Cite news |title=EADS, BAE and Finmeccanica Complete MBDA Merger|work=Defense Daily International |date=21 December 2001|quote=the new MBDA, the world's second largest missile manufacturer behind Raytheon}}</ref> Although EADS (now [[Airbus SE]]) was later reported to be interested in acquiring full control of MBDA, BAE said that, unlike Airbus, MBDA is a "core business".<ref>{{Cite news |title= MBDA prepares for consolidation |work=Financial Times |date= 16 March 2006}}</ref><ref>{{Cite news |first=Douglas |last=Barrie |last2=Wall, Robert|author3= Sparaco, Pierre |title=High-Stakes Gamble; BAE Systems bets future on defense, using its Airbus share as ante|work=Aviation Week & Space Technology |date=17 April 2006}}</ref>

[[File:Astute2cropped.jpg|thumb|left|The {{sclass|Astute|submarine}} project caused BAE to issue a profit warning in 2002 and invest £250&nbsp;million to overcome its difficulties.]]
In June 2002, BAE Systems confirmed it was in takeover discussions with [[TRW Inc.|TRW]], an American aerospace, automotive and defence business. This was prompted by [[Northrop Grumman]]'s £4.1&nbsp;billion (approximately US$6&nbsp;billion in 2002) hostile bid for TRW in February 2002. A bidding war between BAE Systems, Northrop and [[General Dynamics]] ended on 1 June when Northrop's increased bid of £5.1&nbsp;billion was accepted. On 11 December 2002, BAE Systems issued a shock profit warning due to cost overruns of the [[BAE Systems Nimrod MRA4|Nimrod MRA4]] maritime reconnaissance/attack aircraft and the {{sclass|Astute|submarine}} projects.<ref>{{Cite news |first=Mark|last=Odell |title=BAE warning sends share price to 7-year low: News of 'additional issues' on two big defence contracts takes market by surprise|work=Financial Times |date=12 December 2002}}</ref> On 19 February 2003 BAE took a charge of £750&nbsp;million against these projects and the [[Ministry of Defence (United Kingdom)|Ministry of Defence]] (MoD) agreed to pay a further £700&nbsp;million of the cost.<ref>{{Cite news |first=Mark|last=Odell|title=Whitehall re-draws key BAE defence contracts|work=Financial Times |date=20 February 2003}}</ref> In 2000 the company had taken a £300&nbsp;million "loss charge" on the Nimrod contract which was expected to cover "all the costs of completion of the current contract".<ref>{{Cite news |first=Kevin |last=Done |title= Nimrod refit turns into nightmare |work=Financial Times |page= 24 |date= 13 December 2002}}</ref> The troubled Nimrod project would ultimately be cancelled as part of the [[Strategic Defence and Security Review 2010|2010 Strategic Defence and Security Review]] (SDSR).<ref>{{cite news|url=https://www.telegraph.co.uk/news/uknews/defence/8287334/Nimrod-a-sorry-saga-with-a-messy-ending.html|title=Nimrod: a sorry saga with a messy ending|date=27 January 2011|newspaper=The Telegraph|access-date=2 March 2019|archive-url=https://web.archive.org/web/20190306050859/https://www.telegraph.co.uk/news/uknews/defence/8287334/Nimrod-a-sorry-saga-with-a-messy-ending.html|archive-date=6 March 2019|url-status=live}}</ref>

The UK government, following a cabinet row described as "one of the most bitter Cabinet disputes over defence contracts since the [[Westland affair|Westland helicopter affair]] in 1985", ordered 20 [[BAE Hawk]] trainer aircraft with 24 options in July 2003 in a deal worth £800&nbsp;million.<ref name="hawk03">{{Cite news |first=Michael |last=Evans|last2=Benett, Rosemary |title= Cabinet battle over British jet contract |work=[[The Times]] |location=UK |date=31 July 2003}}</ref> The deal was significant because it was a factor in India's decision to finalise a £1&nbsp;billion order for 66 Hawks in March 2004.<ref name="hawk03"/><ref>{{Cite news |first=Russell|last=Hotten |title= Protests loom over Hawk deal with India |work=[[The Times]] |location=UK|publisher=Times Newspapers |date=20 March 2004}}</ref> Also in July 2003 BAE Systems and [[Finmeccanica]] announced their intention to set up three joint venture companies, to be collectively known as [[Eurosystems]]. These companies would have pooled the avionics, [[C4ISTAR]] and communications businesses of the two companies.<ref>{{cite news |title=BAE ties up £2.6bn Italian deal |url=http://news.bbc.co.uk/1/hi/business/3043328.stm |work=BBC News |date=3 June 2003 |access-date=13 September 2007 |archive-url=https://web.archive.org/web/20070313182258/http://news.bbc.co.uk/1/hi/business/3043328.stm |archive-date=13 March 2007 |url-status=live}}</ref> However, the difficulties of integrating the companies in this way led to a re-evaluation of the proposal; BAE Systems' 2004 Annual Report states that "recognising the complexity of the earlier proposed Eurosystems transaction with Finmeccanica we have moved to a simpler model". The main part of this deal was the dissolution of AMS and the establishment of [[SELEX Sensors and Airborne Systems]]; BAE Systems sold its 25% share of the latter to Finmeccanica for €400&nbsp;million (approximately £270&nbsp;million c. 2007) in March 2007.<ref>{{Cite news |first=Patricia J.|last=Parmalee |title=Selex Sale Sealed |work=Aviation Week & Space Technology |publisher=The McGraw-Hill Companies |date=9 April 2007}}</ref>

In May 2004, it was reported that the company was considering selling its shipbuilding divisions, [[BAE Systems Naval Ships]] and [[BAE Systems Submarines]]. It was understood that General Dynamics wished to acquire the submarine building facilities at [[Barrow-in-Furness]], while [[VT Group]] was said to be interested in the remaining yards on the [[River Clyde|Clyde]].<ref name="mergerships"/> Instead, in 2008 BAE Systems merged its Surface Fleet arm with the shipbuilding operations of VT Group to form [[BVT Surface Fleet]], an aim central to the British Government's [[Defence Industrial Strategy]].<ref>{{Cite news |first=David |last=Robertson |title=BAE-VT merger |url=http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article2141581.ece |work=[[The Times]] |location=London |date=26 July 2007 |access-date=7 September 2007 |archive-url=https://web.archive.org/web/20110611170925/http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article2141581.ece |archive-date=11 June 2011 |url-status=dead}}</ref><ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |title=Warship deal takes a step closer |url=http://news.bbc.co.uk/1/hi/scotland/glasgow_and_west/7481923.stm |work=BBC News |location= |date=1 July 2008 |access-date=2021-03-17}}</ref>

[[File:1BFV01.jpg|thumb|BAE's £2.5&nbsp;billion purchase of United Defense in 2005 added the [[M2 Bradley|M2/M3 Bradley]] family of armoured vehicles to its product line.]]
On 4 June 2004, BAE Systems outbid General Dynamics for [[Alvis Vickers]], the UK's main manufacturer of armoured vehicles.<ref>{{cite news |title=BAE triumphs in tank firm battle |url=http://news.bbc.co.uk/1/hi/business/3775713.stm |work=BBC News |date=4 June 2004 |access-date=13 September 2007 |archive-url=https://web.archive.org/web/20040703090213/http://news.bbc.co.uk/1/hi/business/3775713.stm |archive-date=3 July 2004 |url-status=live}}</ref> Alvis Vickers was merged with the company's [[RO Defence]] unit to form BAE Systems Land Systems. Recognising the lack of scale of this business compared to General Dynamics, BAE Systems executives soon identified the US defence company [[United Defense|United Defense Industries]] (UDI), a major competitor to General Dynamics, as a main acquisition target.<ref name="baelandshift"/> On 7 March 2005 BAE announced the £2.25&nbsp;billion (approximately US$4.2&nbsp;billion c. 2005) acquisition of UDI.<ref>{{cite news |title=BAE Systems to buy US rival UDI |url=http://news.bbc.co.uk/1/hi/business/4324733.stm |work=BBC News |date=7 March 2005 |access-date=13 September 2007 |archive-url=https://web.archive.org/web/20070224144722/http://news.bbc.co.uk/1/hi/business/4324733.stm |archive-date=24 February 2007 |url-status=live}}</ref> UDI, now [[BAE Systems Land and Armaments]], manufactures combat vehicles, artillery systems, naval guns, missile launchers and precision guided munitions.<ref>{{cite web |url=https://www.businesswire.com/news/home/20050624005329/en/BAE-SYSTEMS-Completes-Acquisition-United-Defense-Industries |title=BAE Systems Completes Acquisition of United Defense Industries; Creates Global Land Systems Enterprise|publisher=Businesswire|date=24 June 2005|access-date=25 February 2018|archive-url=https://web.archive.org/web/20180225205925/https://www.businesswire.com/news/home/20050624005329/en/BAE-SYSTEMS-Completes-Acquisition-United-Defense-Industries|archive-date=25 February 2018|url-status=live}}</ref>

In December 2005, BAE Systems announced the sale of its German naval systems subsidiary, Atlas Elektronik, to [[ThyssenKrupp]] and EADS. The ''Financial Times'' described the sale as "cut price" because French company Thales bid €300&nbsp;million, but was blocked from purchasing Atlas by the German government on national security grounds.<ref>{{Cite news |first=James |last=Boxell |title= BAE forced into cut-price sale |work=Financial Times |date= 31 December 2005}}</ref> On 31 January 2006 the company announced the sale of BAE Systems Aerostructures to [[Spirit AeroSystems, Inc.]],<ref>{{cite news |title=BAE sells Prestwick unit for £80m |url=http://news.bbc.co.uk/1/hi/scotland/4666854.stm |work=BBC News |date=31 January 2005 |access-date=7 September 2007 |archive-url= https://web.archive.org/web/20070904051513/http://news.bbc.co.uk/1/hi/scotland/4666854.stm |archive-date= 4 September 2007 |url-status= live}}</ref> having said as early as 2002 that it wished to dispose of what it did not regard as a "core business".<ref>{{cite news |url= http://news.bbc.co.uk/1/hi/scotland/2326285.stm |title= Fears for future of BAE plant |work= BBC News |date= 14 October 2002 |access-date= 31 January 2006 |archive-url= https://web.archive.org/web/20040705141855/http://news.bbc.co.uk/1/hi/scotland/2326285.stm |archive-date= 5 July 2004 |url-status= live}}</ref>

On 18 August 2006 Saudi Arabia signed a contract worth £6&nbsp;billion to £10&nbsp;billion for 72 Eurofighter Typhoons, to be delivered by BAE Systems.<ref>{{cite news |url= http://news.bbc.co.uk/1/hi/business/5262120.stm |title= Saudi Arabia buys 72 Eurofighters|work=BBC News |date=18 August 2006 |access-date=18 August 2006 |archive-url= https://web.archive.org/web/20060820084815/http://news.bbc.co.uk/1/hi/business/5262120.stm |archive-date= 20 August 2006 |url-status= live}}</ref> On 10 September 2006 the company was awarded a £2.5&nbsp;billion contract for the upgrade of 80 [[Royal Saudi Air Force]] Tornado IDSs.<ref>{{Cite news |last=Steiner |first=Rupert|title=BAE clinches new £2.5bn Tornado deal with Saudis|publisher=[[The Business (magazine)|The Business]]|date= 10 September 2006}}</ref> One of BAE Systems' major aims, as highlighted in the 2005 Annual Report, was the granting of increased technology transfer between the UK and the US. The F-35 (JSF) programme became the focus of this effort, with British government ministers such as [[Paul Drayson, Baron Drayson|Lord Drayson]], [[Defence Procurement Agency|Minister for Defence Procurement]], suggesting the UK would withdraw from the project without the transfer of technology that would allow the UK to operate and maintain F-35s independently. On 12 December 2006, Lord Drayson signed an agreement which allows "an unbroken British chain of command" for operation of the aircraft.<ref>{{Cite news |first=Tom|last=Baldwin |title=Britain in fighter deal with US |work=[[The Times]] |location=UK |date=13 December 2006 <!--|access-date=2 March 2007-->}}</ref> On 22 December 2006 BAE received a £947&nbsp;million contract to provide guaranteed availability of [[Royal Air Force]] (RAF) Tornados.<ref>{{Cite news |first=David |last=Robertson |title=BAE emerges from the political storm with MoD Tornado contract |work=[[The Times]] |location=UK |date=23 December 2006}}</ref>

In May 2007 the company announced its subsidiary BAE Systems Inc. was to purchase [[Armor Holdings]] for £2.3&nbsp;billion (approximately US$4.5&nbsp;billion c. 2007) and completed the deal on 31 July 2007.<ref name="Armor">{{Cite press release |title= BAE Systems plc announces proposed acquisition of Armor Holdings Inc. |publisher=BAE Systems plc |date= 7 May 2007 |url= http://www.baesystems.com/BAEProd/groups/public/documents/bae_publication/bae_pdf_armor.pdf |access-date=7 May 2007 |archive-url= https://web.archive.org/web/20070616024943/http://www.baesystems.com/BAEProd/groups/public/documents/bae_publication/bae_pdf_armor.pdf |archive-date= 16 June 2007 |url-status= live}}</ref><ref>{{Cite press release |title= BAE Systems completes acquisition of Armor Holdings Inc. |publisher=BAE Systems plc |date= 31 July 2007 |url= http://www.baesystems.com/Newsroom/NewsReleases/autoGen_107631191035.html|access-date=7 September 2007 |archive-url= https://web.archive.org/web/20070930154544/http://www.baesystems.com/Newsroom/NewsReleases/autoGen_107631191035.html |archive-date= 30 September 2007 |url-status= live}}</ref> The company was a manufacturer of tactical wheeled vehicles and a provider of vehicle and individual armour systems and survivability technologies.<ref name="Armor"/> BAE Systems (and British Aerospace previously) was a technology partner to the [[McLaren]] Formula One team from 1996 to December 2007.<ref name="mclarenpr">{{Cite press release |title= Racing success as BAE Systems and Team McLaren Mercedes technology partnership celebrates 10 years |publisher=BAE Systems plc |date= 9 March 2006 |url= http://www.baesystems.com/Newsroom/NewsReleases/2006/press_090320061.html |access-date=25 March 2008 |archive-url=https://web.archive.org/web/20080515204738/http://www.baesystems.com/Newsroom/NewsReleases/2006/press_090320061.html|archive-date=15 May 2008}}</ref><ref>{{Cite news |title= 2008 Ultimate Season Review |work=F1 Racing|pages= 99–101 |publisher=Haymarket |date=March 2008}}</ref> The partnership originally focused on McLaren's F1 car's aerodynamics, eventually moving on to carbon fibre techniques, wireless systems and fuel management. BAE Systems' main interest in the partnership was to learn about the high speed build and operations processes of McLaren.<ref name="mclarenpr"/>

The company announced the acquisition of [[Tenix Defence]], a major Australian defence contractor in January 2008. The purchase was completed on 27 June for A$775&nbsp;million (£373&nbsp;million) making [[BAE Systems Australia]] that country's largest defence contractor.<ref>{{Cite news |first=David |last=Robertson |title=Ian King takes over at BAE Systems and promises to raise standards |url=http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article4228109.ece |work=[[The Times]] |location=London |date=28 June 2008 |access-date=25 July 2008 |archive-url=https://web.archive.org/web/20110612062528/http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article4228109.ece |archive-date=12 June 2011 |url-status=dead}}</ref> The MoD awarded BAE Systems a 15-year munitions contract in August 2008 worth up to £3&nbsp;billion, known as Munition Acquisition Supply Solution (MASS). The contract guaranteed supply of 80% of the UK Armed Forces' ammunition and required BAE to modernise its munitions manufacturing facilities.<ref>{{cite news |url=http://news.bbc.co.uk/1/hi/business/7573160.stm |title=BAE in £2bn MoD ammunition deal |work=BBC News |date=20 August 2008 |access-date=6 December 2011 |archive-url=https://web.archive.org/web/20080908142953/http://news.bbc.co.uk/1/hi/business/7573160.stm |archive-date=8 September 2008 |url-status=live}}</ref> BAE Systems expanded its intelligence and security business with the £531&nbsp;million purchase of [[BAE Systems Digital Intelligence|Detica Group]] in July 2008.<ref>{{cite web |first=Miles|last=Costello |title=BAE makes agreed £531m cash offer for Detica |url=http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article4419501.ece|work=[[The Times]]|location=London|date=29 July 2008|access-date=13 January 2009|archive-url= https://web.archive.org/web/20100522101515/http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article4419501.ece|archive-date=22 May 2010|url-status=dead}}</ref> It continued this strategy with purchases of Danish cyber and intelligence company ETI for approximately $210&nbsp;million in December 2010, and [[Norkom|Norkom Group PLC]] the following month for €217&nbsp;million. The latter provides counter fraud and anti-money laundering solutions to the global financial services industry where its software assists institutions to comply with regulations on financial intelligence and monitoring.<ref>{{cite web |last=Hubler |first=David |url=http://washingtontechnology.com/articles/2010/12/22/danish-purchase-bae-global-cyber-and-intell.aspx |title=Purchase of Danish company expands BAE's cyber, intell capabilities |publisher=Washingtontechnology.com |date=22 December 2010 |access-date=6 December 2011 |archive-url=https://web.archive.org/web/20111006063637/http://washingtontechnology.com/articles/2010/12/22/danish-purchase-bae-global-cyber-and-intell.aspx |archive-date=6 October 2011 |url-status=live}}</ref><ref>{{cite web |url=http://www.baesystems.com/Newsroom/NewsReleases/autoGen_11101411115.html |title=BAE Systems announces recommended offer to acquire Norkom at |publisher=Baesystems.com |date=14 January 2011 |access-date=17 April 2011 |url-status=dead |archive-url=https://web.archive.org/web/20160104143231/http://www.baesystems.com/Newsroom/NewsReleases/autoGen_11101411115.html |archive-date=4 January 2016}}</ref>

====Airbus shareholding====
{{main|Airbus}}

BAE Systems inherited British Aerospace's share of Airbus Industrie, which consisted of two factories at [[Broughton, Flintshire|Broughton]] and [[Filton]]. These facilities manufactured wings for the Airbus family of aircraft. In 2001 Airbus was incorporated as Airbus SAS, a [[Société par actions simplifiée|joint stock company]]. In return for a 20% share in the new company BAE Systems transferred ownership of its Airbus plants (known as [[Airbus UK]]) to the new company.<ref>{{cite web |url=https://www.flightglobal.com/news/articles/bae-reveals-39airbus-uk39-proposal-64872/ |title=BAE reveals 'Airbus UK' proposal |date=25 April 2000 |publisher=Flight Global|access-date=25 February 2018 |archive-url=https://web.archive.org/web/20180226032233/https://www.flightglobal.com/news/articles/bae-reveals-39airbus-uk39-proposal-64872/ |archive-date=26 February 2018 |url-status=live}}</ref>

Despite repeated suggestions as early as 2000 that BAE Systems wished to sell its 20% share of Airbus, the possibility was denied by the company.<ref name="scotsman2000"/><ref>{{Cite news |first=Peter |last=Spiegel |title=BAE denies Airbus sale plans |work=Financial Times |date=7 September 2005}}</ref> However, on 6 April 2006 it was reported that it was indeed to sell its stake, then "conservatively valued" at £2.4&nbsp;billion.<ref name="BBC Airbus">{{cite news |url=http://news.bbc.co.uk/1/hi/business/4886154.stm |title=BAE confirms possible Airbus sale |work=BBC News |date=7 April 2006 |access-date=12 August 2006 |archive-url=https://web.archive.org/web/20061120113320/http://news.bbc.co.uk/1/hi/business/4886154.stm |archive-date=20 November 2006 |url-status=live}}</ref> Due to the slow pace of informal negotiations, BAE Systems exercised its [[put option]] which saw investment bank [[N M Rothschild & Sons|Rothschild]] appointed to give an independent valuation. Six days after this process began, Airbus announced delays to the [[Airbus A380|A380]] with significant effects on the value of Airbus shares. On 2 June 2006 Rothschild valued the company's share at £1.87&nbsp;billion, well below its own analysts' and even EADS's expectations.<ref>{{Cite news |first=David |last=Gow |url= https://www.theguardian.com/business/2006/jul/03/theairlineindustry.baesystemsbusiness |title= BAE under pressure to hold Airbus stake |work= The Guardian |location= London |publisher= Guardian Newspapers |date= 3 July 2006 |access-date= 3 July 2006 |archive-url= https://web.archive.org/web/20131002154400/http://www.theguardian.com/business/2006/jul/03/theairlineindustry.baesystemsbusiness |archive-date= 2 October 2013 |url-status= live}}</ref> The BAE Systems board recommended that the company proceed with the sale. Shareholders voted in favour and the sale was completed on 13 October.<ref>{{Cite news |title= BAE Systems says completed sale of Airbus stake to EADS |work=Forbes |date= 13 October 2006 |url= https://www.forbes.com/feeds/afx/2006/10/13/afx3089453.html |access-date=13 October 2006 |url-status=dead|archive-url=https://web.archive.org/web/20110604072701/http://www.forbes.com/feeds/afx/2006/10/13/afx3089453.html|archive-date=4 June 2011}}</ref> This saw the end of UK-owned involvement in civil airliner production. Airbus Operations Ltd (the former Airbus UK) continued to be the Airbus "Centre of Excellence" for wing production, employing over 9,500 in 2007.<ref>{{cite web |url= http://www.airbus.com/en/worldwide/airbus_in_uk.html |title=Airbus in UK |work=Airbus |access-date=5 October 2007 |archive-url= https://web.archive.org/web/20071012161735/http://airbus.com/en/worldwide/airbus_in_uk.html |archive-date= 12 October 2007}}</ref>