US defence companies Boeing and Lockheed Martin are reportedly looking at British companies in order to get Ministry of Defence (MoD) contracts.
According to the Times newspaper, the two US companies have been eyeing UK-based firms such as manufacturing businesses Cobham and Chemring and engineering group Meggitt.
It is thought that the US giants could gain lucrative MoD orders by holding an interest in the UK.
The newspaper also says that Boeing and Lockheed Martin have approached Middlesex-based defence company Ultra Electronics. However the group, worth an estimated £800 million, has reportedly rejected approaches by the American pair.
Several industrialists have warned that UK manufacturing skills could die out if foreign companies continue to buy out British businesses. The Times lists the chief executive of Rolls-Royce Sir John Rose and Allan Cook, chief executive of Cobham, as being among those concerned about the knock-on effects of the Boeing and Lockheed Martin interests.
GE's acquisition of Smiths Industries' aerospace division last month has been seen to mark the beginning of the "the American invasion", according to the broadsheet.
The report comes just one day after Boeing announced an order by UPS, the world's largest package delivery company, for 27 Boeing 767-300 freighters.
Digg 
Delicious 
Reddit 
StumbleUpon 
Google 
Technorati 
Netvouz