Archive: Business/Financial

The Atlas Group's product portfolio includes a range of aerostructures. Photo: The Atlas Group

Private Equity Firm AEI Acquires The Atlas Group

The private equity firm AE Industrial Partners [AEI] on Tuesday said it has acquired Aerostructures Acquisition LLC, also known as The Atlas Group, and will combine the company with its existing portfolio company F.M.I., Inc., to create a manufacturing company that produces a wide range of complex assemblies for commercial, military and business aircraft. Terms […]

U.S. Secretary of Defense James N. Mattis meets with China's Minister of Defense Gen. Wei Fenghe at the People's Liberation Army's Bayi Building in Beijing, China, on June 28, 2018. (DoD photo by Army Sgt. Amber I. Smith)

Trump Administration, DoD Zero In on Threats from China

President Trump’s administration is making clear through recent speeches, published reports and legislation that the U.S. economy — and within it, the defense industrial base — is suffering due to a series of targeted, deliberative efforts by China. In 2017, Trump directed the Department of Defense (DoD) to lead a multi-agency analysis of the health […]

Developed by General Motors and the Army, the Colorado ZH2 hydrogen fuel cell-powered vehicle. Photo: GM

GM Names Retired Army General Charlton As President Of Defense Unit

General Motors [GM] is transitioning its year-old defense subsidiary to a more active role in terms of customer outreach and marketing now that the legal paperwork is out of the way and has named John Charlton, a retired Army two-star general, as president. Charlton and General Motors Defense LLC will be based in Washington, D.C., […]

Aerial view of the Pentagon, Arlington, VA

DoD to Request New Funds to Re-Energize Defense Industrial Base

The Pentagon plans to request additional funds in the FY’20 budget request to help address critical issues that are undermining the U.S. defense industrial base, officials said Oct. 4. The department will utilize existing funds that fuel industrial base mitigation efforts, but will also need to add more to the pot to implement all of […]

Report: Defense-Industrial Base Weakened by Global Competition, Reduced Capacity at Home

A report released on Friday on the state of the U.S. defense-industrial base paints a grim picture of the varied challenges, both domestic and global, that are eroding the base’s capability to ensure that warfighters are well-prepared for current and future threats. Sequestration, the decline of U.S. manufacturing capability and capacity, cumbersome government business practices, […]

An MV-22 Osprey lands aboard the USS New York LPD 21 amphibious transport dock in this Aug. 2014 photo. The ship was built at Avondale and delivered in 2009. Photo: HII

Huntington Ingalls Sells Avondale Shipyard

Four years after closing its shipyard in Avondale, La., Huntington Ingalls Industries [HII] on Thursday said the facility has been sold to a joint venture consisting of a terminal operator and redevelopment company. Terms of the sale to Avondale Marine, which consists of T. Parker Host and Hilco Redevelopment Partners, were not disclosed. A spokeswoman […]

United Flexible's products include composite hoses. Photo: United Flexible

Smiths Group To Acquire United Flexible For $345 Million

Britain’s Smiths Group plc on Thursday said it has agreed to buy Illinois-based United Flexible for $345 million in a deal that adds new solutions for its aerospace and industrial product suite around tubing and hoses for fluid and fuel transfer and expands its geographic footprint. The transaction is expected to close in the second […]

iStock Cyber Lock

Raytheon Partners With Cyber Firms To Add Technology To Security Service

Raytheon [RTN] on Tuesday said it has entered partnerships with two cyber security product companies, Cybraics and Authentic8, to add their technologies to its cyber-as-a-service subscription model. Raytheon said the partnerships will provide a security analytics and artificial intelligence platform, and a cloud-based secure virtual browser to aid its customers with protecting critical infrastructures. “With […]

Rockwell Collins' products include cockpit avionics. Photo: Rockwell Collins

Justice Department Okays UTC’s Deal For Rockwell Collins, With Conditions

The Department of Justice on Monday evening approved United Technologies Corp.’s [UTX] pending $30 billion acquisition of Rockwell Collins [COL], although the government requires UTC to divest two Rockwell Collins’ business units to preserve competition in the marketplace. The government said that UTX must divest the pneumatic ice protection systems and trimmable horizontal stabilizer business […]

Notional OPC design is 360-feet long, a 54-foot beam, and 17-foot draft. (Graphic: Eastern Shipbuilding Group.)

Coast Guard Awards Construction Contract For First OPC; Long-Lead For Next OPC And NSC

The Coast Guard on Friday said it had exercised more than $400 million in contract options toward its ongoing surface fleet modernization, including the construction contract with Eastern Shipbuilding for its first of 25 planned medium-endurance Offshore Patrol Cutters (OPC). The Coast Guard awarded Florida-based Eastern Shipbuilding a total of $317.5 million to build the […]