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22 Sep 16. The Lockheed Martin Corporation (NYSE: LMT) board of directors has authorized the purchase of up to an additional $2.0bn of Lockheed Martin common stock under its share repurchase program. With this increase, the total remaining authorization for future repurchases under the share repurchase program is approximately $4.3bn. The number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation.
22 Sep 16. Spain’s Mecanizados Escribano expands. Spanish engineering company Mecanizados Escribano has doubled its production area as it builds further on a recent policy of moving into manufacturing its own engineering and defence products. The official opening of a further 7,000m 2 at its Alcala de Henares plant, east of Madrid, on 20 September, comes just three years after it decided to switch from solely supplying parts for larger companies to also specialising in areas such as its own remote-control and electro-optical systems. This move into self-designed systems and the “high technological level” the company has achieved were hailed by a Spanish Ministry of Defence (MoD) representative at the inauguration ceremony. (Source: IHS Jane’s)
22 Sep 16. Aero Vodochody CEO conducts strategic review. Czech aerospace group Aero Vodochody is conducting a strategic business review under its new chief executive with a view to completion by October.
Giuseppe Giordo, who headed up Alenia Aeronautics from 2011 to 2015, joined the formerly state-owned Czech company as president and CEO in May this year.
“We are carrying out an analysis of the whole portfolio – trying to understand what makes sense in terms of strategic thinking, our contractual position with OEMs, and whether they are providing special competencies and industrial technologies,” he told IHS Jane’s.
“We will decide if it is important to the company or not and combine those views with a business consideration. (Source: IHS Jane’s)
20 Sep 16. Del-Air Tech Acquires Software Co Eukrea. The Eukréa Electromatique company, whose headquarters are in Bordeaux, is a world renowned specialist in the engineering of on-board systems. Since 2004, the company has been developing optimised electronic and software solutions for embedded Linux applications. During its twelve years of existence, several technology companies have drawn on its know-how and skills. As part of its activities, the Eukréa Electromatique team is also contributing to the following projects: U-Boot, barebox, Linux, OpenEmbedded/Yocto and is sponsoring the OpenEmbedded project. Eric Bénard, the company’s CEO, co-authored the book ‘Linux Embarqué’ (Embedded Linux).
An expansion strategy driving an ambitious project
The team of experts at Eukréa Electromatique, who have been working with Delair-Tech as technical partners since 2013, will be joining the Delair-Tech R&D team in September 2016: Delair-Tech is the world’s leader manufacturer of professional drones.
This acquisition is in line with the Toulouse start-up’s strategy. It will enable the company to ensure rapid and harmonious growth to meet new technological challenges, which are sure to arise as the drone market expands. Delair-Tech is thus both securing a strategic partnership and enriching its R&D clout with key skills. The group’s workforce has now increased to 70 people.
“During our long experience collaborating with Delair-Tech we have been very impressed with the team’s vision and energy. We are very happy to be joining Delair-Tech and to participate in the dynamic growth of this project”, says Eric Bénard, the founder and CEO of Eukréa Electromatique.
“In grouping together the R&D teams of the t