:

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…

Senators Push Navy Against Single Destroyer Request In FY ’27

The chairman of the Senate Armed Services Committee (SASC) and the two senators from Maine last week pushed back on Navy officials for only requesting one Arleigh Burke-class destroyer (DDG-51) […]

Navy Looks To Eventually Assemble Battleship At HII Newport News; Faces More Dem Opposition

The Navy told lawmakers this week it found a dry dock at HII’s [HII] Newport News Shipbuilding shipyard it thinks can use for final assembly of the new Trump-class battleship […]

Navy Leaders Downplay Looking At Foreign Navy Shipbuilding Amid Lawmaker Objections

The Navy’s top leaders this week seemed to downplay and back down on the service potentially using foreign shipyards to build U.S. Navy ships or buying foreign designed warships overseas […]

Army

Senate Defense Appropriators See ‘Risk’ With Army’s Reconciliation Plan To Fund Munitions Increase

The Senate’s top defense appropriators cited concern this week with the Army’s request to fund the majority of its large increase to munitions procurement in fiscal year 2027 through the […]