Link Securities | Indra and Hanwha Aerospace, a subsidiary of Hanwha Group, signed a binding agreement on Tuesday for the development of self-propelled artillery systems tailored to the needs of the Spanish Armed Forces. According to a company statement, this will provide Spain with autonomous capability and sovereignty in the design and manufacture of state-of-the-art tracked ground platforms, the digital portal Bolsamania.com reported yesterday. The planned work will require an…

Banc Sabadell | The government has reportedly asked the State Company for Industrial Investments (SEPI), which controls 28% of Indra (IDR) and has three directors, to propose, with immediate effect (there is even talk of this very Friday and before the company’s next board meeting on 25 March), the removal of Ángel Escribano as chairman of Indra, according to El Confidencial. Escribano holds a 14.3% stake in Indra and has…

Alphavalue/Divacons | The Spanish IT services and consulting company has signed a letter of intent with León-based engineering consultancy Tresca to integrate it into its global supply chain. This strategic alliance will allow the Spanish technology company to rely on Tresca’s product and development capabilities in both the domestic and international markets, according to a statement issued by the company on Wednesday. Indra: Reduce, Target Price €57/share.

Alphavalue/Divacons | The Spanish IT services and consulting company announced on Monday that it will lead the GIGaNTE R&D&I project (Research Initiative in Gallium Nitride Technologies and Advanced Packaging Technologies). This strategic initiative aims to give Spain autonomy in the manufacture of chips based on gallium nitride (GaN), a critical material for the development of state-of-the-art radars, electronic warfare systems and high-reliability communications. Indra: Sell, Target Price €56.2/share.

CdM | Indra (IDR) announced on Friday that it has signed a collaboration agreement with the Andalusian multinational Ghenova Ingeniería to contribute its capabilities in comprehensive and multidisciplinary engineering, consulting and technological solutions for complex projects, complementary to those of Indra and which ‘can be of great use for Special Modernisation Programmes (PEM)’. Indra noted this in a statement, recalling that both firms have already collaborated on logistical support projects…

Link Securities | The Ministry of Defence has refused to apply the precautionary measures requested by Santa Bárbara Sistemas against the artillery contracts awarded to the joint venture between Indra and Escribano Mechanical & Engineering (EM&E) worth €7.24 billion. Santa Bárbara Sistemas, owned by the European subsidiary of General Dynamics (GD-US), filed an appeal on 22 January with the Subdirectorate for Armament and Material Procurement of the Ministry of Defence,…