Defence giant BAE Systems, which employs around 10,000 people in Lancashire, says that the nations behind the Eurofighter have agreed to a contract to fit new radar to their aircraft.
The company says the contract is worth £365m to BAE Systems who will be the lead on the work.
Much of the fitting will be carried out at the company's site in Warton.
BAE systems have announced 286 potential job losses at their Samlesbury and Warton sites in Lancashire.
The company says the posts at risk are managerial positions within its Military Air & Information business.
Chris Boardman, Managing Director of BAE Systems said:
It is always regrettable when you have toannounce potential job losses. However, we believe that by implementing changes to our management structure we will become a more efficient and effective business, and be better placed to meet the needs of current and potential customers in what is an increasingly competitive market.
We have a strong order book with Hawk, Typhoon and F-35 in production across our business and this, aligned with our extensive and growing in-service support work with the Royal Air Force and our overseas customers, provides a strong foundation for a long-term sustainable business.
We understand that this is a time of uncertainty for our employees and we are committed to working with them and their representatives to explore ways of avoiding and mitigating potential job losses.”
850 new jobs are being created at BAE in Barrow as the site gets ready to build Britain's next generation of nuclear submarines.
The £300 million investment could mean a thousand more jobs from 2016 too - if the government goes ahead with plans to replace the Trident nuclear deterrent.
Defence giant BAE Systems is to invest £300 million at its site at Barrow, to "transform" its submarine building capabilities.Read the full story ›
Defence giant BAE Systems is to invest more than £300 million at one of its sites, at Barrow in Cumbria, to "transform" its submarine building capabilities.
Defence Secretary Philip Hammond said:
"Barrow has a proven track record of designing and building submarines with a battle winning edge for the Royal Navy.
"The next generation nuclear-deterrent submarines that will be built in Barrow will be the largest and most advanced submarines ever operated by the Royal Navy.
The £300 million of infrastructure work that will take place over the coming years will not only protect 6,000 highly skilled jobs at the site, but also provide hundreds of additional construction jobs."
The BAE Systems site Barrow-in-Furness is to undergo a major £300m transformation.
The defence contractor has released a video of what it hopes to achieve.
Hundreds of jobs will be created at the submarine site in Barrow, which is set to receive £300m of investment.
BAE Systems announced it is investing in an eight-year programme, which will employ around 850 contractors at its peak.
Tony Johns, Managing Director of BAE Systems Maritime said:
“Redevelopment of the site is fundamental to the future of our business and will ensure we stay at the forefront of submarine design, build, test and commissioning.
“This investment will provide a modern, 21st unique skills and expertise that have delivered complex submarines to the UK Royal Navy for over a century.
“The Successor programme, to replace the Vanguard class submarines, remains subject to final approval in 2016, but it is vital we begin these improvements now in order to achieve the Government's target of having the first submarine in service by 2028.”
BAE Systems has announced it will invest £300m in its submarine yard in Barrow, in Cumbria, over the next eight years.
The money will be used to prepare the site for the next generation of nuclear submarines, which will replace the current Vanguard class.
A new building to store submarine parts and materials will also be built as part of the plans.
A top-secret stealth drone, built by BAE Systems in Lancashire, has carried out its first successful test flights from Warton.Read the full story ›