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The plan was to buy out the 50% of HDW, a submarine maker, that Babcock did not already own.
David Johnston was censured in the Senate on Wednesday over his "canoe" slur against a submarine maker even as the prime minister defended his conduct.
An unwieldy conglomerate of over 300 businesses, it had been broken by overseas competition and (typically German) high labour costs.Mr Piepenburg trimmed the firm, selling Babcock's American assets to one American private-equity firm and its remaining share in HDW, a submarine maker, to another.
It has transformed itself into a leading military player by acquiring other related companies in recent years, including Litton Industries, the submarine maker Newport News Shipbuilding and the electronics unit of GenCorp Inc. Northrop makes the Global Hawk, an unmanned surveillance plane that is being used in Afghanistan and can take precise pictures from high altitudes.
Aston Martin has a new concept submarine designed in partnership with submarine maker Triton Submarines.
In the U.S. he funded his research with joint ventures with the German submarine maker Thyssen Nordseewerke and Virginia shipbuilder Newport News.
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Shorten denied making comments slamming Japanese submarine makers.
Does Perry not realize he could be luring nuclear submarine makers from New London?
Tony Abbott has thrown his support behind Australian submarine makers his defence minister wouldn't trust to build a canoe.
On Monday ThyssenKrupp, a German steel conglomerate, announced a merger of its shipyards with Howaldtswerke-Deutsche Werft, a German submarine-maker.
On May 17th ThyssenKrupp, a German steel conglomerate, announced a merger of its shipyards with Howaldtswerke-Deutsche Werft, a German submarine-maker.
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