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THE BOEING COMPANY

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Boeing : US approves $1 billion in new arms sales to Taiwan

10/21/2020 | 05:46pm EST

WASHINGTON (AP) — The Trump administration has approved the sale of more than a billion dollars worth of advanced weaponry for Taiwan in a move that will enrage China and further exacerbate tensions between Washington and Beijing that have are already heated over issues such as trade, Tibet, Hong Kong and the South China Sea.

The State Department announced Wednesday it had greenlighted the sale of 135 precision land attack missiles, associated equipment and training to Taiwan to improve its defense capabilities. The package is worth just over a billion dollars, it said in a statement. The missiles are made by Boeing.

“This proposed sale serves U.S. national, economic and security interests by supporting the recipient’s continuing efforts to modernize its armed forces and to maintain a credible defensive capability,” it said in a statement. “The proposed sale will help improve the security of the recipient and assist in maintaining political stability" as well as military balance and economic progress in the region.

“The recipient will be able to employ a highly reliable and effective system to increase their warfighting effectiveness as needed, which can counter or deter aggressions by demonstrated precision against surface targets,” it said.

China regards Taiwan as a renegade province and has reacted furiously to previous U.S. arms sales to the island. The Trump administration has stepped up military and diplomatic support for Taiwan in recent months, including offering significant backing for its efforts to combat the coronavirus pandemic.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Financials (USD)
Sales 2020 59 100 M - -
Net income 2020 -4 084 M - -
Net Debt 2020 39 375 M - -
P/E ratio 2020 -29,9x
Yield 2020 0,47%
Capitalization 120 B 120 B -
EV / Sales 2020 2,70x
EV / Sales 2021 2,05x
Nbr of Employees 161 100
Free-Float 55,7%
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 212,05 $
Last Close Price 213,01 $
Spread / Highest target 43,7%
Spread / Average Target -0,45%
Spread / Lowest Target -41,3%
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Managers
NameTitle
David L. Calhoun President, Chief Executive Officer & Director
Lawrence W. Kellner Non-Executive Chairman
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO & Executive VP-Enterprise Operations
Theodore Colbert Executive Vice President
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