Archive: Business/Financial

Harris Corp.  Chairman, President and CEO William Brown. Photo: Harris

Harris, L3 Technologies In Deal Billed As Merger Of Equals

Harris Corp. [HRS] and L3 Technologies [LLL] on Sunday morning announced a blockbuster deal that would create the sixth largest U.S. defense contractor with about $16 billion in sales and a market capitalization of $33.5 billion, with Harris shareholders owning 54 percent of the business and L3’s the rest. The company’s said that the merger […]

Accion Systems' Tiled Ionic Liquid Electrospray 500 thruster. Photo: Accion Systems

Boeing HorizonX Invests In Satellite Propulsion Developer Accion Systems

Boeing [BA] on Wednesday said its venture unit HorizonX has invested in Accion Systems, a startup that is developing tiny thrusters for satellite propulsion. Boeing said that Massachusetts-based Accion’s Tiled Ionic Liquid Electrospray in-space propulsion system offers is smaller, lighter and more cost-effective than traditional ion engines. It also said the postage stamp-size thrusters are […]

Leonardo DRS Logo

Leonardo DRS Announces $800 Million In Sensor Contracts, Including Army Deal For New Mounted Laser Rangefinder

Leonardo DRS on Tuesday announced $800 million in electro-optical and infrared sensors contracts from the Pentagon, including a $231 million deal to deliver a new tripod mounted laser designator rangefinder to the Army. The Army in September awarded Leonardo DRS a 10-year deal to potentially deliver 2,700 next-generation Lightweight Laser Designator Rangement (LLDR) for forward […]

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 […]