New manager of BAE Systems Romania planning for contracts worth €50 mln in 2008

BAE Systems opened an official office in 2003 following the sale by Great Britain to Romania of two fighter frigates in a contract worth €155.6 million. BAE Systems, formerly called British Aerospace, has been collaborating with Romanian institutions since 1980, when Romania became the first country from the former Soviet bloc to have access to Western technologies.

“We ended 2007 with running contracts worth GBP 29 million (€38.88 mln) and I estimate that this value will reach GBP 37 mln (€49.6 mln) in the next two months, once ongoing negotiations have been finalized,” Sfichi declared exclusively for Business Standard.

The beneficiaries of these contracts are Aerostar Bacau, Avioane Craoiva, Romaero and Intrarom. "Our main beneficiary is the army," Sfichi added.

BAE Systems Romania’s new Manager has worked for the company since before its official office was opened. He is responsible for monitoring the Aerostar Bacau, Avioane Craiova and Romaero projects.

The company maintains the non-nuclear military US fleet and the British fleet. Cristian Sfichi’s priority is to finalize negotiations with Romtechnica for maintenance contracts of the two frigates acquired in 2003.

“We have recommended a maintenance contract for the duration of the frigates’ activity, which varies from 15 to 20 years, according to standards in this area, and we are expecting the army to make a decision. The value of this contract will depend on the degree to which these frigates are used. Throughout the world civilian contractors provide maintenance for military technology,” said Cristian Sfichi.

BAE Systems posted net sales of €9.23 billion in the first six months of 2007 and €938 million EDITDA. The company has approximately 100,000 employees, and is the patent holder of vertical take-off used by the Harrier, the only plane capable of such a performance.