:

Business/Financial

Woodward, Hexcel Call Off Merger Due To Coronavirus Impacts

By Cal Biesecker

Monday, April 6th, 2020

SHARE:

Woodward, Hexcel Call Off Merger Due To Coronavirus Impacts

Nick Stanage, chairman, president and CEO of Hexcel. The merger plan called for him to be CEO of Woodward Hexcel. Photo: Hexcel

Aerospace and defense suppliers Woodward Inc. [WWD] and Hexcel Corp. [HXL] on Monday announced they have mutually terminated their merger agreement, saying the ongoing coronavirus pandemic has limited the benefits to the combination. “While we both believed from the outset, and continue to believe, in the benefits of a combined Woodward and Hexcel, we mutually concluded after careful consideration that given the significant uncertainty in the market, it would not be prudent to continue to pursue the combination and integration…

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]