04 Nov 11. Lockheed Martin Corporation [NYSE: LMT] announced the
acquisition of Sim-Industries B.V., a commercial aviation simulation company located in the Netherlands. The acquisition is a demonstration of the Corporation’s strategy to expand into closely related markets that build on our core capabilities and expand our customer base. The terms of the agreement were not disclosed.
“This acquisition demonstrates Lockheed Martin’s commitment to expand in
adjacent markets with strong, long-term growth prospects that build on our core capabilities,” said Chairman and CEO Bob Stevens. “The combination of Sim-Industries with our military simulation business will provide airlines, civil pilot training centers and military customers access to training systems that can be provided more quickly and with lower operating costs. Sim-Industries has established itself as a leader in the simulation business with an innovative product design, development and manufacturing process that reflects the quality of its leadership and employees.”
Founded in 2004, Sim-Industries develops and manufactures full-motion and
fixed-based civil aviation flight simulators for a wide range of airline
customers and independent pilot training centers worldwide. Since building its first simulator in 2006, Sim-Industries has become a leader in single-aisle commercial aircraft simulators for the Boeing 737 and Airbus 320, two of the fastest-selling aircraft worldwide. It is finalizing development and certification of its first twin-aisle simulator for the Airbus 330.
“At Sim-Industries, we have developed a highly talented workforce with a culture and a passion for developing and delivering realistic and affordable simulator solutions to our customers,’ said Sim-Industries CEO, Frank Uit den Bogaard. “We are excited to join an organization like Lockheed Martin that shares our vision and is committed to support the future growth of the business.” (Source: ASD Network)
31 Oct 11. ITT Exelis (NYSE: XLS) announced the completion of its spin-off from ITT Corporation and initiated operations as an independent, top-tier global aerospace, defense and information solutions leader with attractive positions in enduring markets. The $5.9 billion, 21,000-person company aims to augment a 50-year legacy of providing a diverse range of critical systems, components and services that help military, government and commercial customers around the world manage global threats, conflicts and complexities. Open trading of Exelis shares on the New York Stock Exchange will commence Nov. 1, 2011 under the ticker symbol XLS. A leader in networked communications, sensing and surveillance, reconnaissance, electronic warfare, navigation, air traffic solutions and information systems, Exelis also enjoys growing positions in cyber security, composite aerostructures, and logistics and technical services. Legacy core strengths include tactical radios, night vision and soldier-protection systems that continue to evolve and serve the warfighter. Non-technical users may be more familiar with Exelis-enabled capabilities that improve their daily lives, like GPS-based navigation and accurate space-based weather forecasting.
“As our industry’s newest global technology leader, ITT Exelis will continue to provide customers with the world-class technologies and services they have come to expect from us,” said Exelis Chief Executive Officer and President David Melcher. “Our new corporate autonomy and streamlined structure make us even more nimble in anticipating, reacting and responding to customers’ evolving needs with affordable, ready-now solutions. Our diversified portfolio, talented global workforce operating on five continents, long-standing commitment to innovation, and customer-centered culture ensure Exelis will provide immediate value to our customers, employees and shareholders.”
In a current global security environment characterized by threats that are numerous, asymmetric and un