Web Page sponsored by Odyssey Corporate Finance
Contact: Tom McCarthy, Director, Odyssey Corporate Finance
M: 07867 459 600
D: 0121 503 2375
E:
www.odysseycf.com
———————————————————————
29 Oct 15. Raytheon to buy Intel’s Stonesoft: report. Raytheon Co’s Websense unit is buying Intel Corp’s Finnish cybersecurity arm, Stonesoft, according to news media reports. According to trade publication CRN, an internal memo from Raytheon-Websense Chief Executive John McCormack said the acquisition was expected to close by the end of the year and will add 300 employees to its workforce. Earlier this year, U.S. arms maker Raytheon announced it was buying network security provider Websense in a deal worth $1.9bn and highlighted the increasing importance of IT and cybersecurity. Raytheon could not immediately be reached for a comment. (Source: Reuters)
29 Oct 15. GKN completes acquisition of Fokker Technologies.
– Expanded range of capabilities offers enhanced composite, advanced metallic and electrical wiring product portfolio
– New innovative technologies increases ability to meet customer weight and cost requirements
– Broader global footprint, particularly in Asia, strengthens ability to meet increased customer needs
– Creates stronger, more flexible partner to aerospace industry
Following the satisfaction of regulatory and legal conditions, GKN Aerospace’s acquisition of Fokker Technologies, announced in July, has now completed.
The combining of Fokker Technologies with GKN Aerospace establishes a business with the widest range of capabilities in composite and advanced metallic products, and strong competencies in wiring systems and landing gear, both potential growth areas as the need to meet ever more stringent environmental targets increases demand for innovative, integrated, lighter structures. Fokker also brings a leading global brand in after market services to the combination.
Kevin Cummings, Chief Executive, GKN Aerospace, said:
“The addition of Fokker Technologies to GKN Aerospace strengthens our core aerostructures business, increases our exposure to key growth platforms, expands our global manufacturing footprint and broadens the innovative technological offerings we can provide to our customers.”
The combined business has sales of over GBP2.8bn and employs around 17,000 people in 61 locations across the globe. Fokker Technologies, under the current leadership, is a new division within GKN Aerospace, headquartered in The Netherlands. Its brand will continue to promote its strong heritage of technology and customer service.
Hans Büthker, CEO,Fokker Technologies, said:
“Joining GKN Aerospace is an exciting opportunity for Fokker Technologies and provides us an enhanced framework to expand our technologies and develop our products to meet the challenges of a very competitive, global marketplace. The partnerships we have established with customers, government and knowledge institutes can only benefit from being associated with a strong, long established company like GKN Aerospace with their technology driven culture.”
The integration of Fokker Technologies is expected to continue throughout Q4 2015 combining best practices of both organisations to create a world beating business.
28 Oct 15. Bombardier Inc. – (TSX:BBD.A)(TSX:BBD.B)(BDRBF) reported its financial results for the third quarter ended September 30, 2015. Revenues totalled $4.1bn for the quarter, compared to $4.9bn for the same period last fiscal year.
For the third quarter ended September 30, 2015, earnings (loss) before financing expense, financing income and income taxes (EBIT) totalled a loss of $4.6bn, compared to earnings of $171 m for the same period last fiscal year.
Net loss totalled $4.9bn, or loss per share of $2.20, due to special items mainly related to impairment charges on C Series and Learjet 85 program tooling, compared to net income of $74m, or earnings per share