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Article: Europe's defense contractors get hit; the end of the cold war leads to big financial losses, legions of layoffs and a troubled future.
- Article from:
- U.S. News & World Report
- Article date:
- June 27, 1994
- Author:
CopyrightCOPYRIGHT 1994 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For months, Bruno Revellin-Falcoz, vice president for technology and cooperation at Dassault Aviation, has crisscrossed the English Channel to meet secretly with Dick Evans, chief executive of British Aerospace. Less often, Revellin-Falcoz travels over the Rhine for talks with Jurgen Schrempp, head of Deutsche Aerospace. These discreet contacts have a clear purpose: With the cold war over and defense budgets shrinking, Europe's leading military contractors are seeking cross-border collaborations to prop up their business. If these efforts succeed, the massive duplication of research, development and production, which has long weakened West European arms makers, could be ...