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U.S.-German Dasa May Boast 12 New Alliances

May 24, 2000|Bloomberg News

Northrop Grumman Corp. and DaimlerChrysler's Dasa aerospace unit is likely to announce as many as 12 business alliances in early June, said Ralph Crosby, head of Northrop's military and commercial aerospace business. Los Angeles-based Northrop, the fifth-largest U.S. defense contractor, and Germany's biggest aerospace and defense company said last month that they were looking to cooperate in areas such as radar, unmanned aircraft and surveillance systems. "We identified in the original memorandum seven different areas which were ripe for political cooperation," Crosby said. The partnership could open more of the $60.3-billion U.S. defense hardware market to Dasa and give Northrop a better chance of selling weapons in Europe. The cooperation would continue after Dasa merges with France's Aerospatiale Matra and Spain's Casa to form the European Aeronautic, Defense & Space Co., Europe's largest aerospace company. Before the companies make an announcement, they need to ensure any alliances don't violate U.S. laws. In the New York Stock Exchange, Northrop shares fell 81 cents to $76.94, and DaimlerChrysler rose $1.19 to $55.69.

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