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13 Apr 11. Daimler to reduce its stake in EADS. German automaker Daimler Ag. on Wednesday said that the company wants to reduce its stake in European aerospace and defence group EADS, Europe’s leading aerospace and defence group, and hopes to come to a decision soon. Daimler AG, based in Stuttgart, is better known for cars and trucks, but owns 22.5 percent of the voting rights and 15 percent of the equity in European Aeronautic Defence & Space Co., the parent company of aircraft manufacturer Airbus. EADS reported a net profit of $732m for 2010 on the back of a surge in orders for Airbus aircraft. The European aerospace company also had a net cash pile of almost $16.8bn at the end of the year, which it could use to boost its business in America. (Source: Google)

20 Apr 11. Chemring Group PLC – Acquisition of Detection Systems Operations of General Dynamics Armament and Technical Products for US$90.0m. Chemring Group PLC has conditionally agreed to acquire the Detection Systems operations and certain related assets (“Detection Systems”) of General Dynamics Armament and Technical Products, a subsidiary of General Dynamics Corporation, for a total cash consideration of US$90.0m (£55.2m). In addition, the Board has separately announced today a placing of new ordinary shares in Chemring, the proceeds of which will, in part, be used to fund the cash consideration for the Acquisition. Detection Systems, based in Charlotte, North Carolina, is a US leader in chemical and biological threat detection and has an advanced capability in stand-off detection of IEDs. Detection Systems is the incumbent supplier for two major US military vehicle-mounted detection programmes: the Joint Biological Point Detection System (JBPDS) and the Joint Service Lightweight Standoff Chemical Agent Detector (JSLSCAD). In addition, Detection Systems’ products include a stand-off IED and explosives detector and the JunoTM hand-held chemical detector. In the twelve months to 31 December 2010, Detection Systems reported an unaudited profit before tax1 of US$8.3m (£5.1m) (2009: US$8.3 (£5.1m )) on turnover of US$61.5 (£37.7m ) (2009: US$69.8 (£42.8m)). The order book at 31 March 2011 was US$62.0m (£38.0m), US$46.0m (£28.2m ) of which is expected to be delivered during 2011. The gross assets of Detection Systems at 31 December 2010 were US$23.0m (£14.1m). The Acquisition creates substantial opportunities for Chemring by enhancing its existing IED detection capabilities and through growth within Detection Systems’ chemical and biological detection programmes. Detection Systems’ stand-off IED detection systems, developed in partnership with a third party, provide a complementary forward-look capability to NIITEK’s HMDS ground penetrating radar which, when used in combination, has the potential to transform the speed of route-clearance operations in theatre. In addition, Detection Systems is already under contract with its partner to develop and deliver a number of stand-off explosives detection systems. Finally, Chemring sees significant potential to distribute Detection Systems’ Juno TM hand-held chemical detector through its international sales and distribution network. Chemring sees significant further growth opportunities based upon the production contracts in place in respect of Detection Systems’ core products. In August 2010, Detection Systems was awarded a full rate production indefinite delivery, indefinite quantity (IDIQ) contract for the JBPDS potentially worth up to $300m (assuming options to extend are exercised), with the potential for further upgrade work. With the JSLSCAD, Detection Systems has a full rate production IDIQ contract, with the US defence budget planning for a doubling in the procurement of the Stryker Nuclear, Biological, and Chemical Reconnaissance Vehicle, which incorporates the JSLSCAD as an element of its mission equipment package. The Acquisition is expected to be earnings accretive in the 12 months to 31 October 2012. The t

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