Qioptiq logo Raytheon Global MilSatCom

NEWS IN BRIEF

6 Dec 02. BAE SYSTEMS plc has completed the sale of its Heckler & Koch small arms business to Heckler & Koch Beteiligungs GmbH, a German registered company established for the purpose of the acquisition. BAE SYSTEMS plc has disposed of its interest in the equity of four legal entities being H&K GmbH, H&K Inc, HEKOSA and NSAF Ltd., which together comprise the H&K small arms business.

16 Dec 02. The first phase of a BAE SYSTEMS e-commerce project which links ‘back office’ production and scheduling systems to EXOSTAR, the global e-Marketplace for aerospace and defence, has gone live.
The Connections system, piloted by BAE SYSTEMS-IFS using IFS Applications software, is now available to all BAE SYSTEMS businesses and enables many different systems in use within the company to be connected to EXOSTAR for transactions and information exchange with suppliers and customers.

17 Dec 02. DRS Technologies Inc.’s offering of 4.75 million shares priced Monday evening at $28 a share through underwriters led by Bear Stearns Cos. DRS Technologies shares, listed on the New York Stock Exchange, closed Monday at $28.81, down 71 cents or 2.4%, on volume of 810,700 shares. The company had about 16.9 million shares outstanding prior to this offering. On Dec. 3, the day after DRS Technologies announced the sale, its shares fell as much as 13%.
The company has said it would use proceeds for general corporate purposes, which may include acquisitions, repayment of debt, capital expenditures and working capital.

10 Dec 02. Northrop Grumman Corporation’s Integrated Systems sector has successfully completed the first supersonic free flight of its Miniature Air-Launched Interceptor (MALI) at Naval Air Warfare Center, China Lake, Calif. All test objectives were met. The Nov. 26 flight achieved a major milestone toward completing Northrop Grumman’s advanced technology demonstration program for the
Defense Advanced Research Projects Agency. MALI is being developed to demonstrate the ability to intercept incoming cruise missiles in air-to-air engagements.

13 Dec 02. Northrop Grumman Corp.’s newly acquired TRW ICBM Systems unit won a $173.6m contract change for Minuteman 3 guidance replacement sets, the Air Force said on Friday. At the same time, TRW, San Jose, California, won a $29m contract modification to provide design, development and testing of high-band communications work on the remotely controlled Global Hawk surveillance aircraft built by Northrop.

18 Dec 02. The four UK Watchkeeper bidders are anxiously awaiting news on the down-select on a date, believed to be January 10th. One bidder, as yet unidentified, has believed to have been asked to withdraw at this stage.

17 Dec 02. Goodrich Corp. (NYSE:GR – News) is organising itself into three divisions, a move it said was the next step in integrating the aeronautical systems business it bought from TRW Inc. Goodrich, said the three business groups will be airframe systems, engine systems and electronic systems. The new segment structure will take effect on January 1. A company spokeswoman said no additional job cuts are planned under the planned reorganization.

16 Dec 02. Simula Inc. retained Relational Advisors LLC and Libra Securities LLC to assist with an evaluation of its strategic alternatives including on-going sales of assets, refinancing, or the sale or merger of the company.

4 Dec 02. Engineered Support Systems, Inc. has received a $11.2m contract for the MSTAR systems, built under licence from Thales, from the Canadian Department of National Defence. The contract award also includes spare parts and associated components. The contract calls for the upgrade of 173 MSTAR systems that are integrated into the Canadian Coyote Reconnaissance vehicle used by the Canadian Army.

17 Dec 02. L-3 Communications’ EER Systems, Inc. and Link Simulation and Training divisions have received a $39.9m award from Naval Air Systems Command Training Systems Division (NAVAIR TSD) in Orl

Back to article list