LOCATIONS
PLANT CLOSURES, STRIKES AND JOB LOSSES
05 Nov 24. Boeing strike ends as workers accept new contract
- Summary.
- Vote on deal passed with 59% support
- Contract offers 38% pay rise over four years
- Strike halted most jet production, hammered Boeing finances
Boeing’s (BA.N) U.S. West Coast factory workers accepted a new contract offer on Monday, ending a bitter seven-week strike that halted most jet production and deepened a financial crisis at the troubled planemaker.
The union said members voted 59% in favor of the new contract, which includes a 38% pay rise spread over four years, easing pressure on new Boeing CEO Kelly Ortberg after two previous offers were voted down in recent weeks.
“This is a victory. We can hold our heads high,” Jon Holden the union’s lead negotiator, told members after the results were announced. “Now it’s our job to get back to work.”
The end of the first strike in 16 years by Boeing’s largest union provides welcome relief for a company that has lurched from one setback to the next since a door panel blew off a near-new 737 MAX plane in mid-air in January.
(Source: Reuters)
MILITARY AND GOVERNMENT
PERSONNEL
EUROPE APPOINTMENTS
08 Nov 24. Jonathan Powell appointed as the Starmer’s National Security Adviser
05 Nov 24. James Cartlidge has been reappointed as Shadow Defence Minister
INDUSTRY
INDUSTRY TEAMINGS
05 Nov 24. Babcock has signed a memorandum of understanding (MOU) with the Republic of Korea technology company LIG Nex1, bringing together the capabilities of both organisations to grow opportunities in maintenance, repair and operations (MRO), training centre management and weapons systems technology markets.
The signing ceremony was held during the EURONAVAL 2024 exhibition in Paris, France, with senior representatives from both companies in attendance, including Park.Taesik LIG Nex1’s PGM Division Head and Mark Goldsack, Managing Director of Business Growth and AUKUS at Babcock.
As demand grows for rapid market entry and effective weapons systems integration with global MRO, we will contribute our long-standing, global capabilities in maintaining and servicing defence equipment with LIG Nex1, applying our extensive experience and technological expertise in defence systems. Together, we’ll focus on building robust infrastructure, supply chains and services to meet the specific requirements of customers in emerging international markets.
Mark Goldsack, Managing Director of Business Growth and AUKUS, Babcock said:” This is an exciting step in growing our portfolio of international partnerships and the opportunity to leverage the skills and expertise of organisations such as LIG Nex1 in markets where we can make a real impact through our combined offering.
“We look forward to harnessing our collective capabilities.”
Park. Taesik, LIG Nex1 PGM division head added: “The future global competitiveness of K-Defence largely depends on securing sustainable MRO Capabilities”, adding “We hope this MOU will serve as a catalyst to further strengthen LIG Nex1’s position in the international defence market.”
05 Nov 24. mDSTA strengthens partnership with Safran to advance defence capabilities against asymmetric threats. Singapore’s Defence Science and Technology Agency (DSTA) and Safran Electronics & Defense have signed a Memorandum of Understanding (MOU) on the sidelines of Euronaval 2024 on 4 November 2024. This MOU aims to drive innovation in defense technology and advance defense capabilities through improved performance, availability and sustainability of platforms operated by the Singapore Armed Forces (SAF).
This signing builds upon the agreement signed between both organisations in March 2023, which includes collaboration in smart technologies, talent development and long-term supportability.
The new MOU will focus on enhancing the capabilities of a weapon control system to address emerging and asymmetric threats. It includes exploring the development of a decision support tool to quicken the engagement response time, as well as tapping on smart ammunition technology to maximise system effectiveness against such threats.
“Collaborating with Safran will allow us to bring our diverse expertise together, stay ahead of evolving technology and enhance our capabilities. Through this partnership, we will accelerate technological advancement and co-develop innovative solutions to counter emerging threats” said Ng Chad-Son, Chief Executive of DSTA.
“As threats continue to evolve, so too must the systems designed to counter them” added Franck Saudo, President of Safran Electronics & Defense. “In conjunction with advancements in target identification, the development of sophisticated decision support algorithms plays a pivotal role in modern defense. We are proud to take on this challenge alongside DSTA.”
01 Nov 24. SEA has signed a teaming agreement and entered a partnership with Danish technology and engineering company Terma. The partnership will focus on combining SEA and Terma’s innovative and proven technology to enhance their offering to the global defence market.
SEA has an extensive pedigree with the UK Royal Navy and multiple international navies, with its ship and fleet protection systems installed across the globe. Earlier this year, SEA launched its trainable decoy launcher system, Ancilia, which delivers a step-change in technology from traditional fixed solutions by removing the need to manoeuvre the vessel to counter incoming threats. The company was recently awarded a £135m contract by the UK Royal Navy to provide its Ancilia capability to improve the defensive capabilities of the Royal Navy’s surface ships.
Terma’s advanced technology, from surveillance and audio systems to electronic warfare solutions, is proven on land, sea, in the air and space. It’s C-Guard countermeasures capability provides protection against missile and torpedo water threats, demonstrating the effectiveness of its threat evaluation processing and advanced engagement algorithms. The capability is currently used by +150 naval platforms around the world.
Richard Flitton, Managing Director of SEA said: “This is an exciting relationship and through our collaboration we’re looking forward to offering navies fully-integrated solutions based on today’s already-leading capabilities. Our combined solutions will enable navies to access next generation technology, ensuring greater protection against emerging and modern naval threats.”
Thomas Blom, Senior Vice President, SMS Terma said: “Building on the individual successes of Terma and SEA, we will proudly offer navies in Europe and across the globe access to integrated and modern solutions. We’re looking forward to working closely with SEA to bring together our technologies to deliver excellence to our customers.”
01 Nov 24. Midsummer and Saab Sign Memorandum of Understanding For Collaboration in Thailand. Solar energy leader Midsummer AB and defence and security company Saab AB have today signed a non-binding Memorandum of Understanding to investigate a long-term partnership in the Kingdom of Thailand. This is connected with Saab’s defence and security business, and Thailand’s policies for industrial cooperation and technology transfer to deliver wider benefits to the Thai economy. The MoU between Midsummer and Saab is intended to establish a long-term, comprehensive framework to explore and identify potential activities for industrial cooperation for applications in Thailand and other export markets. The focus will be on solar energy manufacturing and technology, which is a core element of Midsummer’s expertise.
In Thailand, the parties have jointly identified possible opportunities in the establishment of a 200-MW ‘mega factory’ for the production of thin film solar cells, using Midsummer’s proprietary technology and production equipment. Midsummer would be responsible for designing the factory, selling all production equipment to the factory and owning a small part of the Thai production company.
“We are thrilled to sign this MoU with Saab with the intention to deliver a turnkey solar cell factory to Thailand and later possibly also to other markets,” said Eric Jaremalm, CEO, Midsummer. “This type of project is a testament to our much sought-after green technology and production processes on a global scale, and could add a very valuable business avenue to our present offerings.”
Thailand has ambitious, long-term programmes and plans to increase the share of renewables in its energy mix. Thai authorities have already shown great interest in Midsummer’s technology and domestic production potential.
The specific definition and timing for projects and their associated activities will be decided through dialogue with the relevant authorities in Thailand. This process has not yet been initiated.
PERSONNEL
INDUSTRY
EUROPE APPOINTMENTS
06 Nov 24. Reorganisation of the Rheinmetall Executive Board: Rheinmetall positions itself for further growth.
The Supervisory Board of Rheinmetall AG today approved changes to the structure and composition of the Executive Board. The Group is thus responding to the increased demands that the enormous growth of Rheinmetall AG has brought in the wake of the much-discussed turning point in history (“Zeitenwende”) and against the backdrop of the rapid internationalisation and expansion of Rheinmetall’s business activities.
Rheinmetall will reach the threshold of about €10 bn in annual sales for the first time in 2024. With the order backlog expected to grow to around €60 bn by the end of the year, the Group is preparing to generate annual sales of around €20 bn in just a few years.
To achieve these goals, it is not only necessary to integrate numerous new production sites into the group, which are being built as part of a consistently implemented internationalisation strategy with a high level of national industrial value added by the commissioning nations. It is also important to effectively integrate the major global acquisitions of recent times into the group’s operational structure.
In light of this, the Supervisory Board, under the leadership of Ulrich Grillo, has today decided to take account of the broad transformation that has been set in motion and accelerated by the remarkable growth momentum of the Group by means of a comprehensive reorganisation of the Executive Board. The Supervisory Board is seeking to strike a new balance between continuity and innovation. The measures adopted today are intended to guarantee organisational viability and reliability as well as the necessary capacity for innovation and adaptation and continued entrepreneurial agility in the coming years, which will be characterised by exceptional organic and inorganic growth.
The reorganisation of the Executive Board of Rheinmetall AG consists of various individual measures that will take effect from 1 January 2025:
Armin Papperger (61), who has been CEO of Rheinmetall since January 1, 2013, will remain at the helm of the Group for another five years from January 1, 2025. The current contract will be extended accordingly.
Dagmar Steinert (59) has reached an amicable agreement with the Supervisory Board to resign from her position as Chief Financial Officer (CFO) with effect from 31 December 2024. The Supervisory Board regrets Ms Steinert’s decision and thanks her for her great personal and successful commitment during a crucial growth phase in the company’s development. The Supervisory Board wishes her all the best for the future.
Her successor from 1 January 2025 will be Klaus Neumann (54), currently Head of Accounting at Rheinmetall AG, who has been with the Group for 12 years. In addition to further developing financial reporting, Mr Neumann will also tackle the continuation of the IT transformation, which the Supervisory Board considers to be central to realising growth opportunities.
Also appointed to the Executive Board with effect from 1 January 2025 is René Gansauge (51), previously Head of the Weapon and Ammunition division, who will take on the newly created position of Chief Operation Officer (COO). In this role, Mr Gansauge, who has extensive operational management experience in both the military and civilian sectors thanks to his nineteen years of service at Rheinmetall, will drive forward the company-wide alignment, optimisation and activation of production and organisational processes.
Dr. Ursula Biernert (55), who was appointed as the new CHRO and Labour Director this year, completes the Executive Board and will continue to lay the personnel foundations for the growth path embarked upon and manage the expansion of the global workforce with her team.
05 Nov 24. Terma has appointed Thomas Flarup as the new EVP for Global Sales and Portfolio Management. Flarup, who previously held a senior position as head of the Danish Centre for Cyber Security (CFCS), brings both a strong leadership background and extensive commercial experience.
U.S. APPOINTMENTS
05 Nov 24. Elara Nova: The Space Consultancy is proud to announce the appointment of Brad Head as its new Director of International Partnerships. With a distinguished career in the United States Air and Space Forces and renowned expertise in forging strategic partnerships, Head’s extensive experience in defense, international relations and space policy will reinforce Elara Nova’s position as a global leader in the space consultancy arena.