• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Excelitas Qioptiq banner

BATTLESPACE Updates

   +44 (0)77689 54766
   

  • Home
  • Features
  • News Updates
  • Defence Engage
  • Company Directory
  • About
  • Subscribe
  • Contact
  • Media Pack 2023

BUSINESS NEWS

February 23, 2011 by

21 Feb 11. Cobham plc has completed the divestment of the Engineering Consultancy Group, a part of Cobham Technology Services, to management backed by a private equity fund, for a cash consideration of £13.5m on a debt and cash free basis. Cobham Technology Services is part of Cobham’s Aerospace and Security Division. The Engineering Consultancy Group operates out of Cobham’s Leatherhead, UK site and works exclusively for third parties, providing engineering consultancy services to customers in non-core markets such as heavy engineering and infrastructure. The retained business lines of Cobham Technology Services provide specialist and high value added technology based products and services in markets where the Group has leading positions including antennas, satellite communications and electronic systems.
Andy Stevens, Cobham Chief Executive Officer said: “The divestment of the Engineering Consultancy Group is evidence of further progress in our strategy of focusing Cobham on its scale positions in higher growth and technically differentiated markets.”

22 Feb 11. Lockheed Martin Corporation [NYSE: LMT] has entered into a definitive agreement to sell its Pacific Architects and Engineers Incorporated (PAE) business to Lindsay Goldberg, LLC.
“Our decision to divest PAE followed a comprehensive review of our
portfolio to find ways to continuously provide the best, most affordable solutions for our customers, a secure future for our employees and value for our shareholders,” said Lockheed Martin Chairman & CEO Robert J. Stevens. “PAE and its employees have demonstrated tremendous capability to serve the nation with dedication, diligence and honor. I’m confident the company and its employees will continue to thrive under the ownership of Lindsay Goldberg.”
Since acquiring PAE in 2006, the Corporation has strengthened its leadership team, established new business management processes and enhanced the focus on performance excellence. The Corporation’s decision last June to divest this business was based on its assessment that the markets PAE serves had evolved in ways that were inconsistent with the Corporation’s long term strategy. The closing of the transaction is subject to customary closing conditions. It is expected that the transaction will close in the second quarter of 2011. Terms of the transaction will not be disclosed and are not expected to have a material effect on Lockheed Martin.

21 Feb 11. Kaiser Aluminum Corporation (Nasdaq:KALU – News) today reported adjusted consolidated operating income for the full year ended December 31, 2010 of $65m, an increase of $12m or 23% compared to the prior year excluding non-run-rate items and the contribution from Anglesey smelting operations in 2009. The Fabricated Products segment reported adjusted operating income of $101m, an increase of $14m or 16% compared to the prior year ended December 31, 2009.
“We are pleased with our financial results and operational accomplishments in 2010,” said Jack A Hockema, President, CEO and Chairman. “Higher value added revenue and stronger shipments combined with improved manufacturing efficiencies drove strong earnings performance in a challenging economic environment. We further enhanced our platform for top-line and bottom-line growth with the purchase of Alexco and Nichols Wire and the launch of our new world-class remelt and extrusion facility in Kalamazoo, Michigan,” said Mr. Hockema. “In addition, we improved our capital structure and extended the five year labor agreement for our two largest facilities — Trentwood and Newark — through 2015, all in an effort to support our business and growth initiatives and further strengthen our competitive position. We are well positioned to continue capitalizing on the opportunities in our served markets in 2011 and beyond.” (Source: Yahoo!/GLOBAL NEWSWIRE)

23 Feb 11. A top-level meeting of the German government on the issue of ownership in aerospace and defence firm EADS (EAD.PA) did

Primary Sidebar

Advertisers

  • qioptiq.com
  • Exensor
  • TCI
  • Visit the Oxley website
  • Visit the Viasat website
  • Blighter
  • SPECTRA
  • Britbots logo
  • Faun Trackway
  • Systematic
  • CISION logo
  • ProTEK logo
  • businesswire logo
  • ProTEK logo
  • ssafa logo
  • Atkins
  • IEE
  • EXFOR logo
  • DSEi
  • sibylline logo
  • Team Thunder logo
  • Commando Spirit - Blended Scoth Whisy
  • Comtech logo
  • GoExporting logo
  • Supercat logo
  • Galvion logo
Hilux Military Raceday Novemeber 2023 Chepstow SOF Week 2023

Contact Us

BATTLESPACE Publications
Old Charlock
Abthorpe Road
Silverstone
Towcester NN12 8TW

+44 (0)77689 54766

BATTLESPACE Technologies

An international defence electronics news service providing our readers with up to date developments in the defence electronics industry.

Recent News

  • On D-Day Anniversary, Austin, Milley Call on All to Defend Democracy

    June 6, 2023
    Read more
  • BATTLESPACE Counter Unmanned Air System (C-UAS) Supplement

    June 6, 2023
    Read more
  • PARLIAMENTARY QUESTIONS

    June 2, 2023
    Read more

Copyright BATTLESPACE Publications © 2002–2023.

This website uses cookies to improve your experience. If you continue to use the website, we'll assume you're ok with this.   Read More  Accept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT