BAe was the UK's largest exporter, a Competition Commission report gives a ten-year aggregate figure of 45 billion, with defence sales accounting for approximately 80%.

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The company was formed as a statutory corporation on April 29, 1977 as a result the   Aircraft  and Shipbuilding industries. This called for the nationalisation and merger of; the British Aircraft Corporation, Hawker siddeley aviation, Hawker Siddeley dynamics and Scottish Aviation.

In accordance with the provisions of the British Aerospace Act 1980 the statutory corporation was changed to a Plc, British Aerospace Public Limited Company, on January 1 1981. On February 4 1981 the government sold 51.57% of its shares. The British goverment sold its remaining shares in 1985, maintaining a £1 Golden share which allows it veto foreign control of the board or company.

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BAe was the UK's largest exporter, a Competition Commission report gives a ten-year aggregate figure of £45 billion, with defence sales accounting for approximately 80%.

On September 26, 1985, the UK and Saudi Arabian governments signed the Al Yamamah contract, with BAe as prime contractor. The contracts, extended in the 1990s and never fully detailed, involved the supply of Tornado strike and air defence aircraft, Hawk trainer jets, Rapier missile systems, infrastructure works and naval vessels. The Al Yamamah deals are valued at anything up to £20Bn and still continue to provide a large percentage of BAE Systems' profits.

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