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BAE Systems says U.S. halted its work on F-16 upgrades for South Korea
http://uk.reuters.com/article/2014/10/29/uk-bae-systems-southkorea-exclusive-idUKKBN0II03720141029BAE Systems says U.S. halted its work on F-16 upgrades for South Korea
By Andrea Shalal
WASHINGTON Wed Oct 29, 2014 2:58am GMT
(Reuters) - The U.S. unit of Britain's BAE Systems Plc (BAES.L) on Tuesday said the U.S. Air Force has halted some of the company's initial work on a project to upgrade South Korea's F-16 fighter jets amid ongoing talks about the second phase of the project.
“We remain concerned about the lack of progress in the negotiations between the Republic of Korea and the U.S. Air Force on the KF-16 upgrade program that has now resulted in a partial stop work order," said BAE spokesman Brian Roehrkasse.
South Korea last week said it could cancel the overall project to upgrade 134 F-16 fighter jets and seek a different contractor, after the U.S. Air Force told Seoul the projected cost of 1.75 trillion won (1.05 billion pound) could rise by 800 billion won.
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