Archive: Business/Financial

Chilean Air Force Selects Bell 412 Helicopter

Bell Helicopter Textron [TXT] said it recently hosted a high ranking delegation from the Chilean Air Force (FACH) for a contract signing ceremony in which Gen. Julio Escobar committed the FACH to purchase 12 Bell 412 4 axis helicopters. Gen. Escobar, head of the FACH, said, "We evaluated several helicopters and feel the 412 will […]

DoD Report Finds Little Reliance On Foreign Sources of Supply

The Pentagon continues to award the overwhelming preponderance of its prime contracts, both in percentage and dollar terms, to domestic contractors, according to the latest report on the subject by the Defense Department’s industrial policy office. In FY ’06 DoD awarded $76.6 billion, or 97.6 percent, in contracts to firms based in the United States, […]

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By Geoff Fein The investigation into welding issues at Northrop Grumman’s [NOC] Newport News (NGNN) shipyard that initially led to the tying up of the first three Virginia-class submarines earlier this month has been expanded to include other subs and aircraft carriers, the Navy said. The Navy, NGNN, and General Dynamics [GD] Electric Boat are […]

JASSM Cruise Missile Successful In Flight Test, Says Lockheed Martin

By Michael Sirak Lockheed Martin [LMT] says its JASSM stealthy cruise missile flew successfully in a flight test yesterday, according to a company spokeswoman. "After nine consecutive successful ground tests, today’s successful flight test demonstrates our commitment to providing the Air Force with the highest quality product," the Lockheed Martin spokeswoman told Defense Daily Dec. […]

Raytheon Gets Small Radiation Detection Award

The Domestic Nuclear Detection Office (DNDO) has awarded Raytheon [RTN] a $2.9 million, six-month contract to begin developing a Stand-Off Radiation Detection System (SORDS), marking the second award for the company in the area of radiation detection systems. In 2006 Raytheon was one of three companies selected by DNDO, which is a branch of the […]

Lockheed Martin To Provide AN/TPS-77 Radar To Latvia

Lockheed Martin [LMT] recently said it received a contract valued at $44 million from the Latvian National Armed Forces for two long-range AN/TPS-77 transportable air surveillance radar systems and options for long-term technical support. The contract included priced options for up to four additional TPS-77 radars for Estonia and Lithuania. In 2003, Lockheed Martin delivered […]

Boeing Signs 10 Year MoU With Hindustan Aeronautics Ltd.

Boeing [BA] and India’s Hindustan Aeronautics Limited (HAL) announced Dec. 20 signing a 10-year Memorandum of Understanding (MOU) intended to bring more than $1 billion of new aerospace manufacturing work to India. The agreement, signed in New Delhi by Jim Albaugh, president and CEO of Boeing Integrated Defense Systems, and Ashok Baweja, chairman of HAL, […]

Boeing Signs 10-Year MoU With Hindustan Aeronautics Ltd.

Boeing [BA] and India’s Hindustan Aeronautics Limited (HAL) announced Dec. 20 signing a 10-year Memorandum of Understanding (MoU) intended to bring more than $1 billion of new aerospace manufacturing work to India. The agreement, signed in New Delhi by Jim Albaugh, president and CEO of Boeing Integrated Defense Systems, and Ashok Baweja, chairman of HAL, […]

Morocco Spending $2.6 Billion For Aircraft, Equipment

Morocco is looking to spend upward of $2.4 billion for 24 F-16C/D Block 50/52 aircraft as well as associated equipment and services, according to the Defense Security Cooperation Agency (DSCA). Besides the 24 F-16s, which will be equipped with either the F100-PW-229 or F110-GE-129 increased performance engines and APG-68(C)9 radars, Morocco is seeking: five F100-PW- […]

BAE SYSTEMS Selling Electronic Warfare Unit To Cobham

BAE SYSTEMS recently said it has agreed to sell its Pennsylvania-based Surveillance and Attack business to Cobham plc, for $240 million in cash as it de- emphasizes its role as a subsystem provider. The deal is expected to close in the first quarter of 2008. Both BAE and Cobham are headquartered in the United Kingdom […]