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NEWS IN BRIEF

7 Oct 02. BAE SYSTEMS received initial funding from the Boeing company to produce advanced IFF systems for the Republic of Korea’s F-15K fighter. Under the contract with Boeing, valued at more than $9m, BAE SYSTEMS Advanced Systems business unit at Greenlawn will develop and build as many as 40 AN/APX-113 Combined Interrogator Transponder (CIT) systems plus spares, and provide associated data and units for lab testing. The IFF transponders allow the military to rapidly identify its own friendly aircraft from enemy or potentially hostile aircraft.

8 Oct 02. The U.S. Army and Northrop Grumman Corporation (NYSE:NOC – News) conducted simulant drop tests Sept. 23 that successfully demonstrated the feasibility of releasing a Bat submunition from a Hunter unmanned aerial vehicle (UAV). Co-sponsored by the Army’s Precision Fires Rocket and Missile Systems and Unmanned Aerial Vehicle Systems Project Office, the drops were performed at Fort Huachuca, Ariz. They pave the way for an October test series at White Sands Missile Range, N.M., that will demonstrate engagement of large moving targets by Bats released from a Hunter.
8 Oct 02. BAE SYSTEMS has been awarded a £75m maintenance contract which will
guarantee availability of the Nimrod Maritime Reconnaissance fleet to the Royal Air Force for the next six years. Under the incentivised contract, BAE SYSTEMS will provide guaranteed levels of Nimrod availability through spares-inclusive maintenance. BAE SYSTEMS will also carry-out major and minor maintenance and ensure an agreed level of airframe components are available to support the RAF,s first and second-line maintenance of the Nimrod MR2 fleet.
9 Oct 02. Bankrupt WorldCom Inc. (Other OTC:WCOEQ.PK – News) scored a victory on Wednesday when the U.S. General Accounting Office rejected rivals’ protests of its selection to receive a $450m Defense of Department contract.

Under the contract, WorldCom will build a network for Defense Department scientists and researchers. Rival telecommunications companies Sprint Corp. (NYSE:FON – News; NYSE:PCS – News) and bankrupt carrier Global Crossing Ltd. (Other OTC:GBLXQ.PK – News) challenged the contract award because WorldCom admitted this summer it improperly accounted for almost $7.7bn, raising questions about its credibility.

8 Oct 02. BAE SYSTEMS North America has reached a definitive agreement with the shareholders of Corbett Technologies, Inc., to purchase the corporation. Corbett Technologies has annual revenues of approximately $15m. The acquisition, which will be funded from existing facilities, will complement BAE SYSTEMS established information technology and secure information businesses. Corbett Technologies, based in Alexandria, Virginia, and employing 100 people, was founded in April 1994 and focuses on safeguarding information systems by providing full-service Information Assurance solutions. This year, Corbett Technologies was ranked in the top 15 fastest growing public and private technology companies headquartered in the Washington D.C. area.

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