02 Jul 13. Lockheed Martin Corporation launched Lockheed Martin International (LMI), a new organization responsible for strengthening international customer relationships and industrial partnerships, and growing the company’s global business. Patrick M. Dewar, 52, has been named Executive Vice President of LMI and will continue as a corporate officer. The LMI team will work with global Lockheed Martin customers to deliver the company’s products, technologies and services to meet their national security and citizen services needs. The LMI organization is headquartered in London, England, and the Washington, D.C., metropolitan area; has corporate offices in Ottawa, Riyadh, Abu Dhabi, Singapore and Canberra; and regional offices in New Delhi, Tokyo and Seoul.
02 Jul 13. PHOTONIS Technologies, a world leader in night vision sensor innovations, announced that the company has created a new business unit that will exclusively concentrate on the research, design, development
and manufacture of digital low-light imaging technologies. The new division, to be known as PHOTONIS Digital Imaging, will be headquartered in Frisco, TX (USA). PHOTONIS Digital Imaging will be part of PHOTONIS USA, and managed under the direction of Mr. Gregory W. Bell,President and CEO of the US divisions. Mr. Bell stated, “The creation of a new, dedicated business unit allows us to draw on the expertise of the entire company and yet focus the product development in the new, digital marketplace with innovative applications and product offerings with the highest performing collection of low-light solutions.” He added that by being a resident company at the North Texas Enterprise Center facility in Frisco, Texas as an innovative, emerging technology accelerator, PHOTONIS Digital Imaging is already manufacturing and shipping digital low-light cameras. The company also recently announced a partnership to bring better connectivity options to its NOCTURN product line in response to customer demand.
01 Jul 13. RADA Electronic Industries Ltd. (RADA) announced its financial results for the quarter ended March 31, 2013. Revenues totaled $5.4m, a 46% increase when compared with $3.7m in the first quarter of 2012. Gross Profit totaled $0.85m, a 15% decrease when compared with $1m in the first quarter of 2012. Operating Expenses totaled $1.5m, a 4% decrease when compared with $1.6m in the first quarter of 2012. Financial Expenses totaled $475,000, a 100 % increase when compared with financial expenses of $236,000 in the first quarter of 2012. As a result, the Company reported a loss of $1,165,000, or $0.13 per share, for the first quarter of 2013 compared with a net loss of $840,000, or $0.09 per share, for the first quarter of 2012. (Source: Yahoo!/GLOBE NEWSWIRE)
01 Jul 13. BAE Systems PLC (BA.LN) announced the termination of agreement to acquire Marine Hydraulics International Inc. MAIN FACTS: -The conditions to closing the Nov. 2012 agreement with American Maritime Holdings, Inc., to acquire Marine Hydraulics International, Inc., have not been satisfied and the agreement has now been terminated. (Source: Open Source Information Report/WSJ)
02 Jul 13. GE Gains EU Approval for $4.3bn Avio Buy. U.S. conglomerate General Electric (GE.N) won EU clearance on Tuesday for its $4.3bn bid for Italian plane components maker AVIO after agreeing to protect strategic information related to the Eurofighter project. Avio is a key supplier to the Eurofighter, which competes with other combat planes powered by GE engines. (Source: glstrade.com/Reuters)
27 Jun 13. Armor Designs Inc. (“ADI”), (AIM: ADID), the knowledge-based designer, developer and manufacturer of next generation composite protective products, in the fields of oil & natural gas, infrastructure, aerospace, sports, nuclear, and personal protection, reported its audited results for the year ended 31
December, 2012.Business Developments:
1) Delivery and Payment of three shipments for the previously announce