Word: grummans
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...weapons. The cost of manufacturing the Draken or Viggen fighter-bombers, however, would have been prohibitive without foreign sales. Thanks to rising costs of raw materials, even U.S. manufacturers are beginning to require foreign sales to make their products cost-effective (Iran's purchase of 80 F-14s from Grumman saved that company from insolvency...
...loan is only one in a growing number of bold business ventures by the Shah. Last year Iran bought a 25% chunk of the steel-producing division of West Germany's Krupp concern for $100 million, and Iranian banks participated in a $200 million loan to the Grumman Corp. Last week the Shah also unveiled a grandiose $5 billion project for the modernizing of Tehran, his capital...
...fanatic interest in military equipment, his university could end up as a Harvard-staffed weapons development lab. After all, Reza Shah did purchase $5 billion worth of armaments from the U.S. this past year (U.S. arms sales for 1974 totalled $8.5 billion). He's planning to purchase the Grumman F-14 and YF-17 fighter bombers, to make his air force possibly the third most powerful in the world (he'd originally considered buying the Grumman coporation itself, but U.S. law prohibited that...
...Washington Post reported recently that an Arab bid to invest $100 million in Lockheed Aircraft Corp., made this spring, was rejected by the company, even though it needed the cash. Arab investors suspect the deal was quashed by the White House. An Iranian bid to lend Grumman Corp. a similar sum was vetoed in August...
...force and 11,500-man navy, the Shah recently contracted for such imposingly modern weapons as 70 U.S. F-4 Phantom jets, 800 British Chieftain tanks and an assortment of destroyers, Hovercraft and troop-transport planes. In a deal that probably saved Long Island's Grumman Aircraft Corp. from bankruptcy, the Shah earlier this year ordered 80 F-14s at a cost of nearly $1.5 billion. By 1980 Iran will have more fighter-bombers (839) than any NATO nation except the U.S. The Shah, a skilled pilot with more than 5,000 flying hours in fixed-wing aircraft...