Archive: Business/Financial

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, […]

Untitled

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 […]

BAE SYSTEMS Selling Electronic Warfare Unit To Cobham

BAE SYSTEMS yesterday 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 […]

Schwartz: Expanded Global Infrastructure Needed For North-To-South Transport

The U.S. military’s global transport network needs to grow from it’s current east-west orientation to a more robust en-route infrastructure that can move personnel and material more readily north to south as well, including into regions of growing interest such as Africa, the general overseeing this network said recently. "The truth is that our network […]

New iRobot PackBot Unveils New Mapping Kit Payload

iRobot [IRBT] has announced a new Mapping Kit payload for its combat-proven PackBot that will help warfighters manage search, surveillance and reconnaissance, according to officials. "PackBot with Mapping Kit utilizes new technology that directly addresses the needs of modern warfighters and other first responders to safely gather crucial environmental intelligence without having to enter hazardous […]

Switzerland To Spend $535 Million On F/A-18C/D Upgrades

Switzerland is looking to spend $535 million for the sale of "Upgrade 25 Program" equipment to enhance survivability and communications connectivity and to extend the useful life of 33 Swiss Air Force (SAF) F/A-18C/D aircraft, the Defense Security Cooperation Agency (DSCA) reported. This phase of the F/A-18C/D "Upgrade 25 Program" will include: 20 AN/ASQ-228A(V) Advanced […]

Senate Adds $4 Billion In Defense Procurement Funding To Omnibus Package

By Jen DiMascio The final version of the spending bill expected to be passed yesterday by the House of Representatives included $70 billion in funding for the war–about $6 billion of which was set aside for defense procurement. Senate Minority Leader Mitch McConnell (R-Ky.) said yesterday the bill will cover war spending until about April. […]