Latest news with #AngelEscribano
Bloomberg
12-05-2025
- Business
- Bloomberg
Spain's Defense Champion Indra Bets on Becoming a Tank Maker
The chairman of Spain's largest defense firm has a plan for the country to become a key player in Europe's arms industry: build tanks. It's an unusual bet for Indra Sistemas SA, a company best known as a supplier of sensors, radars and other electronic systems for airplanes, boats and armed vehicles. But Chairman Angel Escribano, who's held the position since January, says it's the way to go.
Reuters
25-04-2025
- Business
- Reuters
Indra considers taking over Spanish defence contractor Escribano M&E, Expansion says
MADRID, April 25 (Reuters) - Spanish defence technology company Indra ( opens new tab is considering taking over Escribano M&E, a Spanish company owned by the family of Indra's executive chairman Angel Escribano, Expansion newspaper reported Wednesday, citing unnamed market sources. Escribano M&E, an engineering company also active in the defence sector, which owns a 14.3% stake in Indra according to LSEG data, would be valued at as much as 1 billion euros ($1.13 billion), the sources told Expansion. Indra, which is 28% owned by the Spanish state-owned fund SEPI, is set to benefit from the government's plan to increase defence spending by more than 10 billion euros this year. Its shares rose 61% so far this year. Angel Escribano was picked to head Indra after Marc Murtra, its former top executive, was appointed executive chairman of telecom giant Telefonica ( opens new tab. ($1 = 0.8825 euros)
Bloomberg
26-02-2025
- Business
- Bloomberg
Spain's Defense Champion to Offer Investors Glimpse Into Plans
Indra Sistemas SA's new executive chairman is set to offer investors a glimpse of his plan to accelerate the company's pivot to defense from technology, part of Spain's broader aspirations to build a national champion. Angel Escribano, who took over when his predecessor unexpectedly moved to another company last month, will be addressing investors and media to present full-year earnings on Wednesday after European stock markets close. His first major move since taking over was helping steward an agreement to acquire a satellite operator in a bet that Europe needs a homegrown supplier to compete against Elon Musk's SpaceX.
