The Freethinkers
30-08-2005, 23:14
The Times
FDI Announces Successful Bid for Knootian Defence Firm
Freethinker Defence Industries Group has announced it was successful in its bid to takeover the Knootian arms manufacturer the Heraclitus Group, one of the largest private military consortiums in the world, in a deal estimated at around M48 billion (around $95 billion). FDI Group will purchase 51% of Heraclitus’s stock, making it the dominant shareholder within the firm. The Knootian Government is the current largest shareholder at 33% and will retain its stake in the company even after the takeover.
The deal was finalised in the early hours of this morning after encountering Government stumbling blocks.and will raise significantly the international holdings of the FDI Group. The newly acquired assets in Knootoss include shipyards, foundries, computer and electronic labs and related production facilities employing around 300,000 people. FDI has released a development plan, with the Heraclitus Group becoming the international wing of FDI Groups huge arms manufacturing and support empire. The Heraclitus Group will still be based in the Dutch Democratic Republic and will maintain its current contracts with the Knootian Defence Forces, as well as other members of the VERITAS alliance.
FDI Group has stated it will move several production facilities to Knootoss, including most of its Navarre shipbuilding facilities. The Navarre Naval Shipyards will become one of the largest Research and Development facilities in the world, with its ship building capacities limited to only the huge ‘superships’ which the facility is most famous for. All other shipyard activity will be limited to the Port Blanche and new Knootoss facilities. Future expansion at all three sites is expected as well.
The move has not been a surprise for many industry observers. Proffessor James Nathaniel of the Navarre Institute of Business and Economics, said “an expansion was the big thing on FDI’s agenda, a large increase in specialities and production capability was the only way in which the company’s staggering growth could be maintained.” Share prices in both companies have jumped considerably, despite the effect such a large purchase will have on FDI Group’s bottom line at the end of the fiscal year.
Union boss Jim Berkely however, was more sceptical of the move, and was one of a number of vocal opponents to the deal. “What we are seeing here is a staggeringly blatant attempt of one of our largest employers turning its back on the Freethinkers.” He stated that the move will increase the risk to FDI employees in Navarre, an idea which seems possible given the proposed move of the main naval production facilities from Navarre to yards in Knootoss, despite the company’s assurance that no redundacies are planned. Other critics , both Freestian and Knootian, have questioned the wisdom of putting domestic weapons manufacture in the hands of ‘foreign’ producers.
Nevertheless, the huge current orders still of FDI’s books means that any reduction in capacity or manpower, at least in the short and medium term, are unthinkable. Despite the Union’s apprehension, most workers at the Navarre and Port Blanche facilities seem to be broadly in favour of the move. Reaction in Knootoss has been difficult to guage at best, and it will take time to see just how successful this move will be.
FDI Announces Successful Bid for Knootian Defence Firm
Freethinker Defence Industries Group has announced it was successful in its bid to takeover the Knootian arms manufacturer the Heraclitus Group, one of the largest private military consortiums in the world, in a deal estimated at around M48 billion (around $95 billion). FDI Group will purchase 51% of Heraclitus’s stock, making it the dominant shareholder within the firm. The Knootian Government is the current largest shareholder at 33% and will retain its stake in the company even after the takeover.
The deal was finalised in the early hours of this morning after encountering Government stumbling blocks.and will raise significantly the international holdings of the FDI Group. The newly acquired assets in Knootoss include shipyards, foundries, computer and electronic labs and related production facilities employing around 300,000 people. FDI has released a development plan, with the Heraclitus Group becoming the international wing of FDI Groups huge arms manufacturing and support empire. The Heraclitus Group will still be based in the Dutch Democratic Republic and will maintain its current contracts with the Knootian Defence Forces, as well as other members of the VERITAS alliance.
FDI Group has stated it will move several production facilities to Knootoss, including most of its Navarre shipbuilding facilities. The Navarre Naval Shipyards will become one of the largest Research and Development facilities in the world, with its ship building capacities limited to only the huge ‘superships’ which the facility is most famous for. All other shipyard activity will be limited to the Port Blanche and new Knootoss facilities. Future expansion at all three sites is expected as well.
The move has not been a surprise for many industry observers. Proffessor James Nathaniel of the Navarre Institute of Business and Economics, said “an expansion was the big thing on FDI’s agenda, a large increase in specialities and production capability was the only way in which the company’s staggering growth could be maintained.” Share prices in both companies have jumped considerably, despite the effect such a large purchase will have on FDI Group’s bottom line at the end of the fiscal year.
Union boss Jim Berkely however, was more sceptical of the move, and was one of a number of vocal opponents to the deal. “What we are seeing here is a staggeringly blatant attempt of one of our largest employers turning its back on the Freethinkers.” He stated that the move will increase the risk to FDI employees in Navarre, an idea which seems possible given the proposed move of the main naval production facilities from Navarre to yards in Knootoss, despite the company’s assurance that no redundacies are planned. Other critics , both Freestian and Knootian, have questioned the wisdom of putting domestic weapons manufacture in the hands of ‘foreign’ producers.
Nevertheless, the huge current orders still of FDI’s books means that any reduction in capacity or manpower, at least in the short and medium term, are unthinkable. Despite the Union’s apprehension, most workers at the Navarre and Port Blanche facilities seem to be broadly in favour of the move. Reaction in Knootoss has been difficult to guage at best, and it will take time to see just how successful this move will be.