19 Sep 13. The government of Colombia has issued ten-year bonds valued at USD1.6bn in international markets, partly to cover costs associated with defence materiel purchases. The bond issue on 19 September will also be used to reduce foreign debt, Colombia said. Colombia is one of the biggest spenders on defence in Latin America with a 2012 defence budget that was set around USD12bn. This excludes the policing elements of Colombia’s overall defence and security expenditure of around USD22bn. Procurement investment has also been strong, with USD1.6bn directed towards defence and security capital projects in 2013. Major programmes which are currently progressing – and therefore potentially covered by gains from the bond issue – include the acquisition of KC-390 transport aircraft from Brazil (scheduled for delivery from 2016); 8×8 armoured infantry fighting vehicles (Light Armoured Vehicles were bought from General Dynamics Land Systems – Canada under a USD65.3 million contract announced in January this year); and the USD440 million Proyecto Escudo (Project Shield) comprehensive air defence radar system programme that launched in 2012. (Source: Jane’s)
23 Sep 13. The Safariland Group (the “Company”), a leading provider of safety and survivability products for law enforcement, military, tactical, professional and outdoor markets has acquired the explosive ordnance disposal (“EOD”) and crew survivability (“CS) businesses (the “Businesses”) of Allen-Vanguard Corporation, the leader in customized solutions for defeating terrorist and extremist threats. The Businesses acquired include the Med-Eng® brand of EOD bomb suits and remotely operated vehicles and the crew survivability products include customized blast attenuation seats and thermal management systems. The Businesses are located in Ottawa and Pembroke, Canada and Ogdensburg, New York. Med-Eng® is the leading global brand of explosive ordnance disposal equipment for more than 30 years, and is the world market leader for suits and helmets for EOD, bomb disposal and tactical teams. In addition to its bomb disposal equipment, its product line includes a vast array of products for unexploded ordnance, mine clearance and humanitarian demining operations. The line of crew survivability blast attenuation seats protects military vehicle drivers, commanders and troops by isolating them from the effects of improvised explosive devices, mines and sudden impact. Thermal management products, which comprise a variety of military grade personnel and heating and cooling systems for electronics, are designed for the harsh operating requirements of today’s combat environments. The Safariland Group, acquired by an affiliate of Kanders & Company, Inc. in July 2012, is strategically expanding its portfolio of brands and pursuing acquisitions aligned with its mission of “Together, We Save Lives.” With several manufacturing operations both domestically and internationally, The Safariland Group provides 22 leading industry brands to customers worldwide.
23 Sep 13. Russia Sells Stake in Maker of AK-47s to Investors. A Russian government-owned conglomerate announced plans on Monday to sell to two private investors just under half of the company that makes Kalashnikov assault rifles. The company, Izhevsk Machine Works, has made AK-47s, which are the world’s most distributed firearm, since shortly after World War II. And despite years of deep financial crisis, the company has been seen as a crown jewel of Russia’s military industrial complex. Izhevsk returned to profitability in recent years in large part because of robust sales to American civilians. (Source: glstrade.com/New York Times.com)
23 Sep 13. Israel to sell IMI land to offset budget cuts. Israel’s state-owned defence industry is poised to undergo significant changes as the ministry of defence looks to cut costs and raise additional revenue through land sales and the privatisation of Israel Military Industries (IMI). According to the