The Broken Hill Proprietary Co., the Australian...

The Broken Hill Proprietary Co., the Australian resources concern, will enter the aerospace industry with a new subsidiary, BHP Aerospace and Electronics Proprietary Ltd.

The new unit, launched last week, will compete for Australia’s $500-million ($410-million U.S.) Jindalee over-the-horizon radar project, said Russell Fynmore, BHP business development manager. Three Jindalee bases are to provide early warning systems across northern Australia, defense officials said.

Fynmore said BHP, with headquarters in Melbourne, was already talking with U.S. defense contractor Raytheon Co. about joining the project.

BHP Aerospace is also bidding for a $100-million ($82-million U.S.) naval aerial mapping project, Fynmore said. Shares of BHP, Australia’s largest company, fell 22 cents (18 cents U.S.) in Sydney Friday, closing at $8.12 ($6.65).