25 Nov 12. Defense Contractors Stockpile Cash Ahead of ‘Fiscal Cliff’. Defense contractors led by Boeing and Lockheed Martin are stashing more cash amid the threat of automatic federal budget cuts and expiring tax breaks. The average cash holdings of the Defense Department’s five biggest contractors jumped 71 percent to $4.13bn in the quarter ended Sept. 30 compared with the same period in 2010. That outpaces the 17 percent increase for companies in the Standard & Poor’s 500 Index. (Source: glstrade.com/Washington Post)
28 Nov 12. Havok™, a leader in real-time simulation development and 3D visualization technology, has acquired Rocketbox Studios GmbH, the leading provider of high-quality 3D character models and animations to the training and simulation community. Rocketbox’s product offering comprises diverse libraries of high-quality fully-rigged character models combined with compatible high-fidelity animation libraries. The Rocketbox content is easily customizable and optimized for runtime display. Havok’s technology offers a complete 3D visualization development toolkit and the addition of Rocketbox’s premium content will enable simulation customers to build highly realistic interactive virtual simulations in a cost-effective manner. (Source: BUSINESS WIRE)
22 Nov 12. International sales boost Digital Barriers. Digital Barriers, the surveillance technology group, has reported rapid revenue growth on the back of increased business from international clients and foreign governments. The UK company – which specialises in security products such as low-bandwidth video systems that can transmit from remote locations – reported a 68 per cent increase in revenues year on year, to £8.1m for the six months to 30 September. International sales account for more than a quarter of the group’s revenues, up from a fifth on the same period last year, with contract wins in the Middle East and the US driving sales. Colin Evans, managing director, attributed these successes to the group’s standing in the UK. “The fact that we are able to cite the UK government as a buyer of our technology gives us a halo effect,” he said.
However, in spite of the increase in revenues, Digital Barriers’ pre-tax losses accelerated to £7.1m, as operating costs rose. Net cash fell to £7.3m from £25m in 2011, mainly because of a series of acquisitions and a £1.8m jump in operating costs. Management would not give a forecast of when it expected to break even, but Mr Evans played down concerns about declining defence budgets. While admitting that governments around the world were looking to cut defence budgets, he said there was still steady demand for security products, such as surveillance cameras and body scanners. (Source: FT.com)
26 Nov 12. Curtiss-Wright Corporation (NYSE:CW) has acquired Cimarron Energy Inc. (“Cimarron”), through the acquisition of its parent company Cimarron Energy Holding Company LLC, for approximately $135.1m in cash. Cimarron is a leading manufacturer of highly customized and engineered energy production, processing and environmental solutions for the U.S. oil and gas industry. The business will become part of Curtiss-Wright’s Flow Control segment. Founded in 1976, Cimarron provides customized, highly engineered production, processing and environmental equipment and solutions essential to the production of oil and gas. Its energy production and processing equipment includes separators, combination separator/hydrator units, flow back and oil treating equipment. Cimarron also manufactures a full suite of environmental solutions that control toxic well site emissions, provide improved equipment energy efficiency and enable remote monitoring of equipment functions. Products include emission control devices, burner management systems and vapor recovery towers, as well as re-manufactured and repaired production and processing equipment and related parts. Headquartered in Norman, Okla., Cimarron has 368 employees. Its 2012 sales are ex