European aerospace giant Airbus issued a statement on January 13 that it has been ordered to pay a fine of €104 million regarding missiles sale to Taiwan in 1992.
The company said that it acknowledges notification of an arbitral award on 12 January 2018 concerning a breach of contract claim related to a purchase agreement signed in 1992 for the supply of missiles for which the products were delivered in the years shortly thereafter.
Matra Defence was accused of jacking up the prices and remitting commissions to an intermediary who was not authorized by Taiwan at that time, according to Radio France Internationale.
Airbus said in a statement that its subsidiary behind the missile contract, Matra Defense, was “reviewing the award before evaluating the next steps to take”.
According to Taipei Times, Taiwan’s government had ordered air-to-air and short-range missiles that the military bought for the French-made Dassault Mirage 2000 fighter jets for which it had signed a separate deal in November 1992. The missiles in question were the MBDA MICA medium-range and R.550 Magic short-range missiles.
Dassault Aviation and two other French aerospace companies on Oct. 25 last year announced that they had been fined by Taiwan’s government combined 227 million euros to settle disputes linked the sale of 60 Mirage fighters to the island.
Three French aviation companies have been fined a total of 227 million euros ($268 million) in Taiwan over a commercial dispute dating back to 1992, the companies announced. Dassault Aviation said it was fined 134 million euros; avionics and systems manufacturer Thales was hit with a fine of 64 million euros; and engine maker Safran was ordered to pay 29 million euros, the groups said in statements released separately late Wednesday
Google is carrying out review on Taiwans request to blur imagery of unidentified Taiping Island military structures viewable on its Earth and Maps services. Four giant tetrapod-shaped structures on the north-western shoreline of the island Itu Aba controlled by Taiwan and also claimed by several other countries was visible on Google Maps satellite photo, Local media reported Wednesday
Taiwans state-funded National Chung-Shan Institute of Science & Technology (NCSIST) is set to prepare for mass production of two types of missiles with extended range capable of travelling more than 1,000 and 2,000 kilometers to counter Chinas provocative actions. The NCSIST was looking for procurement of more than 600 sets of ring laser gyroscopes (RLG) and control panel components from the US, which is believed to be preparing for mass production of the domestically developed extended-range version of the Hsiung Feng IIE, a surface-to-surface cruise missile, and of the Cloud Peak medium-range missile,
Raytheon, US Navy Complete First Test of Enterprise Air Surveillance Radar
USAF Awards Boeing $999 Million A-10 Thunderbolt II Re-Winging Contract
Houthi Air Defences Destroy US-Built Saudi MQ-9 Drone: Report
Raytheon To Support Standard Missiles Of US, Korea, Taiwan & 4 Others
Elbit Systems Pitches For Lockheed Martin F-21 Jet Project in India
India's First Beyond Visual Range Air-to-Air Missile Ready
Russian AF to Receive Upgrade Su-30SM Jet with Engine from Su-35 Fighter...
Turkish Air Force Seeks Su-35 after F-35 Deal Collapse
Upgrade of Russias Sukhoi Su-30SM fighters to equip them with armaments, radar, sensors and engines from the more powerful Su-35...
US companies sanctioned by China for supplying weapons to Taiwan may be denied rare earth elements (REEs), which have critical...
While the US F-35 stealth aircraft has become one the fastest selling fighter jets in the world aircraft market, thanks...
Russian state-run Almaz-Antey has released additional data on its latest export-version of Buk-M3 Viking air defense missile system (ADMS)
The MiG-29, one of Russias most exported military jet has been upgraded in India that expands its capabilities from an...
Russian fifth generation fighter aircraft (FGFA) Su-57 will for the first time perform flights during the ARMY 2018 event near...