14 Jun 11. General Dynamics entered into a definitive agreement to acquire Fortress Technologies, Inc., a provider of secure wireless networking equipment for the U.S. military and other government customers. The value of the cash transaction, which is expected to be accretive to General Dynamics’ earnings beginning in 2012, has not been disclosed. The acquisition has been approved by the boards of directors of both companies and is subject to normal regulatory review. General Dynamics expects the transaction to be completed in the third quarter of 2011. Fortress Technologies produces a portfolio of mesh networking products that enable secure wireless local area network (LAN) capabilities for battlefield logistics, convoy, command post and soldier applications. Built on commercially available technologies, Fortress Technologies’ ruggedized products improve soldiers’ combat effectiveness and survivability by increasing their access to information. The company is based in Westford, Mass., and has approximately 70 employees. Fortress Technologies will be managed by General Dynamics C4 Systems, which is based in Scottsdale, Ariz. General Dynamics C4 Systems designs, manufactures and delivers trusted and secure communications systems, command and control systems and operational hardware to customers within the U.S. Department of Defense, the intelligence community and federal civilian agencies, and to international customers.
“Fortress Technologies successfully delivers commercially developed, commercially priced secure Wi-Fi/WiMAX networking capabilities that extend the reach of our current broadband tactical-internet offerings,” said Chris Marzilli, president of General Dynamics C4 Systems. “Our high-priority military and civilian users require cyber-protected access to 4G internet services. Fortress effectively provides them with highly secure ‘hot spots’ downrange over the last tactical mile.”
“This acquisition will enhance General Dynamics’ ability to meet the growing tactical-communications requirements of global defense and civilian agencies, bringing new value to our advanced networking solutions. Fortress Technologies also will continue its current model of selling products to other DoD prime contractors and integrators,” Marzilli said.
15 Jun 11. Record exports se sales growth at Faun. Annual trading announcement by FAUN-Zoeller Ltd for the year ending 31 December 2010
* Turnover grows 20 per cent to £30.3m (2009: £25.3m) thanks to export sales of TRACKWAY mobility systems to the defence industry
* Operating profit more than doubles to £943,000 (2009: £466,000) driven by increased efficiencies and cost reduction
* Forecast for next year boosted by acquisitions of refuse collection vehicle (RCV) equipment manufacturers Zoeller and Otto business to provide full service offering to UK market
* Sales of RCVs decline due to local authority spending cuts
* Maintenance division expands as RCV owners look to prolong life of existing assets
FAUN-Zoeller Ltd, the UK subsidiary of the German manufacturer of municipal vehicles, said that it had offset the continued weakness of the UK RCV market with record demand for its TRACKWAY range of ground mobility systems, according to its annual trading update for the year ending 31 December 2010. The business, which is headquartered in Llangefni, Anglesey, also announced that it had purchased two RCV equipment manufacturers – Zoeller Waste Systems and Otto Lifts Ltd – for an undisclosed sum in the first quarter of this new financial year. While sales of its RCVs had dropped as local authorities continued to cut back on capital expenditure projects, FAUN said its support services division was experiencing strong growth on the back of contracts secured with councils looking to prolong the life of their existing vehicles. Last month it secured an order worth almost £2m for a seven year servicing and maintenance contract with Kier Street Services – part of the Kier