UK Extends Starstreak Contract

(MoneyWatch)  The British Government announced that it had awarded Thales a contract worth almost $400 million (U.S.) to continue production and support of the Starstreak light weight anti-aircraft missile. The Belfast Telegraph reports that the new contract will add jobs to the Thales plant in Northern Ireland. The British defense budget has been under pressure when it comes to investing in new programs and systems from the cost of operations in Afghanistan and Iraq. In the U.S. and other countries when more funding for operations is needed the only real source is from your acquisition or research program.