23 Dec 15. Lockheed-Boeing venture orders 20 more Russian rocket engines. United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co , on Wednesday said it ordered 20 additional RD-180 rocket engines from Russia, on top of 29 engines still being delivered.
The company said it ordered the Russian engines to use on its Atlas 5 rockets and serve existing and potential civil and commercial launch customers until a new U.S.-built engine was developed and certified.
ULA spokeswoman Jessica Rye said deliveries on the new batch of engines would start once ULA received all of the previous 29 engines ordered. ULA received eight RD-180 engines this year, she said. (Source: Reuters)
23 Dec 15. Harris Corporation Marks 120-Year Anniversary.
• One of nearly 400 public companies in existence for 120 years
• Transformed from printing press company into top 10 defense contractor
• Thrived for 12 decades through strategic M&A and innovation
Harris Corporation (HRS) marked its 120-year anniversary by recognizing its heritage of transformation and innovation.
Founded in the back room of an Ohio jewelry store in December 1895, Harris grew from a tiny printing press company into a top 10 defense contractor with $8bn in annualized sales, 22,000 employees, customers in 125 countries, and a diverse portfolio of technologies that connect, inform and protect the world. Harris is the longest-thriving major defense contractor and one of 398 publicly held companies still in existence for 120 years or longer – including GE, CVS, Coca-Cola, Pfizer, P&G, and J.P. Morgan. (120+ Companies)
Harris has transformed itself numerous times through strategic mergers and acquisitions, including expanding its printing presence in 1926 by merging with the Seybold Machine and Premier-Potter companies, transitioning into electronic communications with the 1967 merger with Radiation Inc., and nearly doubling its defense industry presence through its largest-ever acquisition of Exelis in 2015. (120-microsite)
Harris has also introduced a long list of notable technology innovations, including the world’s first automatic and four-color printing presses, the Washington-Moscow hotline, GPS navigation space antennas, multi-band military radios, and advanced air traffic management and weather forecasting solutions. Harris today is an industry leader in technologies for defense, space, weather, air traffic management and electronic warfare. (Harris video)
“Embracing transformation and pushing technology boundaries are foundational to Harris’ success over the past 120 years,” said William M. Brown, chairman, president and CEO. “We continue that heritage today with our recent defense-market expansion and our industry-leading investment in advanced research and development. We are proud of Harris’ legacy, and even more excited by the opportunities that lie ahead.” (Source: Google/BUSINESS WIRE)
23 Dec 15. Pentagon eyes proposal for M&A changes in ‘weeks.’ The Pentagon and other U.S. government agencies should complete a legislative proposal in coming weeks to let regulators block proposed mergers for national security reasons, instead of just antitrust concerns, a top official told Reuters on Tuesday. Defense Undersecretary Frank Kendall, who oversees arms weapons acquisitions and industrial base issues for the Pentagon, made the comments in an interview, after first mentioning the legislative push in September. In September he raised concerns about further consolidation among the biggest players in the U.S. weapons industry. At the time, Kendall said the U.S. Justice Department cleared Lockheed Martin Corp’s (LMT.N) $9bn takeover of Sikorsky Aircraft because there was no direct anti-competitive issue, but the Pentagon did not want to see its industrial base whittled down to two or three very large suppliers. (Source: Reuters)
23 Dec 15. Pentagon vows tough scrutiny of Raytheon GPS control system. The Pentagon’s chief arms buyer on Tuesday vowed