January 9, 2008 -- BAE Systems was today selected as the sole producer on a $2.3 billion (£1.2 billion) contract to make mine-proof vehicles for the US Department of Defense.

The vehicles are used by army bomb disposal experts. UBS said the deal could boost BAE revenues at a time when there had been concerns sales of mine-proof vehicles would diminish if US activity in Iraq declines.

Source: The Evening Standard