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NEWS IN BRIEF

2 Oct 02. The Boeing Company (NYSE: BA – News) announced the appointment of Ian Thomas to spearhead the operations of the company’s new Integrated Defense Systems business in the UK.

A $23bn business, Integrated Defense Systems was formed in July by the merger of Boeing’s defense, space, intelligence and communications capabilities into a single unit. The decision reflects the way Boeing believes future defense systems will be designed, acquired and maintained with an emphasis on network-centric solutions. It also strengthens the company’s customer-driven focus, capitalizes on its broad-based capabilities and better targets marketing and research and development opportunities. This announcement may also broaden the company’s considerable ties with BAE SYSTEMS.

27 Sep 02. Bombardier Inc.(Toronto:BBDb.TO – News), said that it would suspend production of Challenger and Learjet business aircraft and cut 2,000 jobs as it reels from the slump in global aviation that followed the Sept 11 attacks.

Bombardier said the cuts, amounting to 6 percent of its aerospace workforce, should protect it from further drops in this year’s profit despite risks caused by the restructuring of U.S. airlines or a possible war against Iraq.

2 Oct 02. The Italian Navy Headquarters recently hosted the signing of the contract for the supply of the Combat System for the NUM aircraft carrier “ANDREA DORIA”. The Industrial Grouping that is responsible for delivering the system is led by Alenia Marconi Systems.

This Industrial Grouping has been brought together as a legal entity specifically for this project. Each member of the team has specific responsibilities to provide aspects of the Combat System and/or Services being supplied.

AMS’ responsibilities include not only the provision of specific equipment but also acting as leader and integrator of the team.

The other members of the team are Elettronica, Fincantieri, Marconi Mobile, Galileo Avionica and OTO Melara.

30 Sep 02. Alvis plc completed its acquisition of Vickers Defence on 30 September 2002. This follows Alvis’s announcement on 2 August 2002, concerning the proposed acquisition of Vickers Defence, comprising Vickers Defence Systems and Vickers Bridging, both based in the UK, and a 75 per cent stake in Vickers OMC, based in South Africa.

1 Oct 02. Turkey has informally told Israel’s Ministry of Defence that Israel has won a $700m Turkish contract to upgrade 170 M-60 tanks, the ministry said on Tuesday. The upgrade will improve the tanks’ firepower, mobility and defence capabilities, a ministry statement said. The project will be led by state-owned Israel Military Industries and Elbit Systems (Tel Aviv:ESLT.TA – News).

24 Sep 02. L-3 Communications Holdings Inc. (NYSE:LLL – News) has acquired Technology Management & Analysis Corp., a provider of Naval surface and combat fleet services to the U.S. Department of Defense, for about $50m in cash.

L-3 said it could pay up to an additional $7m, contingent upon Technology Management’s performance for 2002 and 2003. L-3 expects Technology Management to contribute sales of about $55m and earnings of 2 cents a share to L-3’s financial results for 2003.

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