Word: kongsberg
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...them would force many companies to give at least 60 days' notice of impending plant closings. The White House opposes as excessively restrictive a section that would require a ban for up to five years on the importation of any products made by Toshiba, the Japanese electronics company, and Kongsberg Vaapenfabrikk, a Norwegian government-owned manufacturer of computers and weapons. They were found last year to have violated export-control agreements by selling the Soviets high- tech equipment used to build quiet submarine propellers...
...Sugiichiro Watari and Chairman Shoichi Saba suddenly dashed to their corporate headquarters for an emergency board meeting. Then, at a hastily called news conference, the two executives resigned. That surprise gesture of contrition came less than a day after the Senate voted 92 to 5 to prohibit Toshiba and Kongsberg Vapenfabrikk, Norway's largest defense contractor, from selling any products in the U.S. for two to five years...
...sanction vote was intended to punish Toshiba, whose 50.1%-owned Toshiba Machine subsidiary joined with Kongsberg to sell the Soviet Union sensitive technology that enables submarines to move more quietly underwater and thus escape detection. Under the terms of the Senate ban, which was passed as an amendment to a pending omnibus trade bill, the Federal Government is required to seek financial compensation from Toshiba and Kongsberg for the technology leak. Some Congressmen estimate that it could cost the U.S. up to $30 billion to bolster its defenses in the wake of the caper...
...bill also empowers President Reagan to exempt certain items from the ban, including products essential for defense. Kongsberg hopes such an exemption would allow it to fulfill a $96 million contract to sell Penguin air-to-ship missiles to the Navy. Without that sale, Kongsberg might be forced to file for bankruptcy...
...result, the Navy may convince Congress that the number of U.S. subs must be increased sharply. Because the newest submarines under development -- known as the Seawolf class -- will cost more than $1 billion each, it is the U.S. that could pay the highest price for Toshiba's and Kongsberg's dealings...