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BUSINESS NEWS

11 Jun 08. BVT Surface Fleet: Formation. BAE Systems and VT Group announced (11 Jun 08) that they had signed the final agreement to form a Joint Venture Company, BVT Surface Fleet (BVT). BVT is to be the UK’s premier provider of surface warships and their through-life support, combining BAE’s facilities at Filton, Glasgow and Portsmouth with VT’s at Portsmouth. BVT will be owned 55% by BAE Systems and 45% by VT.
Comment: Formation of BVT is conditional on the approval of VT’s shareholders, which is to be sought at an Extraordinary General Meeting on 30 Jun 08. It is anticipated that BVT will be able to start operations on
1 Jul 08 and that the way will then be clear for the MoD to place an order for two new aircraft carriers. (Source: DNA DEFENCE NEWS ANALYSIS, Issue 0824, 16 June 08)

20 Jun 08. EADS and Thales both deem that the concentration process of the European aerospace and defence industry is not over yet. French financial weekly Le Revenu analyses the five “most probable” merger or alliance scenarios: Finmeccanica-Thales; EADS-Thales; Thales-Safran; Safran-Zodiac; and EADS-Qatar/Russia. The newspaper highlights that the French government will oversee most of these operations, and that many European players have set the US as a key market for development. (Source: Google)

19 Jun 08. Northrop Grumman’s navigation systems subsidiary, LITEF GmbH, located in Freiburg, Germany has changed its name to Northrop Grumman LITEF GmbH, to enhance its visibility in the international market and strengthen its identity with the global defence and technology company. Northrop Grumman LITEF is a leading supplier of inertial sensors, inertial reference and inertial navigation systems and computers with products deployed in more than 30 countries throughout the world in aircraft, land vehicles and ships. The company is an industry leader in fibre-optic gyroscope products for aircraft, marine vessels and ground mobile applications worldwide.

19 Jun 08. Teledyne Instruments, Inc., a subsidiary of Teledyne Technologies, Inc. (NYSE: TDY), entered into an agreement to acquire assets of privately held Webb Research Corp. East Falmouth, Mass.-based Webb Research is the world’s leading manufacturer of autonomous underwater gliding vehicles, as well as autonomous profiling drifters and floats. (Source: DEFENCEnet Daily)

17 Jun 08. AEA Technology plc (LSE: AAT.L) entered into a conditional agreement to acquire privately held Project Performance Corp. (PPC). McLean, Va.-based Project Performance Corp., established in 1991, is an information technology and environmental consulting firm supplying services to the U.S. government and to industry in the U.S. in the areas of energy and environmental consulting, information technology. (Source: DEFENCEnet Daily)

05 Jun 08. Leading technology services and product development group, Jaltek, has recently completed the acquisition of Cambridgeshire based Hidalgo Ltd, a highly regarded design and product development services company specialising in RF telecommunications and physiological monitoring systems. By acquiring Hidalgo, Jaltek has further expanded its service offering to clients to include established world-class expertise in electronic product design, embedded software development and project management. Accordingly, Hidalgo’s customer base gains access to Jaltek’s extensive, multi-centred manufacturing, PCB design and software design capabilities. As part of the Jaltek Group, Hidalgo will continue to trade under its own name and retain its management and team structure. The acquisition confirms that Jaltek Group is on course with its strategy of developing its portfolio of expertise to provide added value to its growing customer base. (Source: ASD Network)

14 Jun 08. Sweden’s armed forces have cleared the way for the full privatisation of TeliaSonera to go forward, removing a potential obstacle to France Telecom’s
$41bn takeover bid for the Nordic operat

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