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NEWS IN BRIEF

1 May 20. Delaware judge Tuesday cleared Hewlett-Packard Co. of allegations it acted improperly in the vicious proxy fight over the Compaq Computer Corp. (NYSE:CPQ – news) acquisition, paving the way for completion of the high-tech industry’s biggest merger.
After a three-day trial last week in Wilmington, Del., Chancery Court Judge William B. Chandler ruled that former HP director Walter Hewlett failed to support his charges that HP bullied a big investor into supporting the Compaq deal and lied to investors about the progress of the merger plans. “The evidence demonstrates that HP’s statements concerning the merger were true, complete and made in good faith,” Chandler wrote.

26 Apr 02. The Dutch cabinet on Friday postponed making a decision on the Dutch participation in the U.S.-led F-35 Joint Strike Fighter (JSF) project. Prime Minister Wim Kok told a news conference that talks would be held next week with U.S. officials about the postponement, a government spokesman said.
The cabinet was unsure whether it was appropriate for a caretaker cabinet to take such a controversial decision three weeks before the general election, he added.
“In the coming days, members of the Dutch cabinet will talk with their American counterparts about the possibilities of finalising a contract later this year,” the spokesman said.

2 May 02. On 30th April 2002 the Gripen team submitted a modified proposal, as requested, for the delivery of up to 30 fighters for the air force ofthe Austrian Army.

The biggest difference between this and the proposal of 23 January 2002
concerns the period of time in which the new aircraft would be delivered. As required by the Request for Proposals (RFP), the Gripen team could deliver the first 5 new fighters in mid 2005 and another 7 by the end of 2005. The delivery of all aircraft could be completed by the middle of 2007.
The Austrian Government is reportedly looking at leasing possibilities for an interim solution.

25 Apr 02. Oshkosh Truck Corporation (NASDAQ: OTRKB – news) reported that second quarter net income increased 7.8 percent to $12.2m, or $0.70 per share, on sales of $416m for the quarter ended March 31, 2002, (2001: $11.3m , or $0.66 sales of $343m).

1 May 02. BAE SYSTEMS has received a $20.3m contract to provide precision targeting and imagery exploitation for the U.S. Navy at Naval Air Systems, Patuxent River, Maryland. BAE SYSTEMS Mission Solutions in San Diego, California, will modify the Navy’s Precision Targeting Workstation to support precision targeting applications. This contract will also accelerate the Navy’s plan to migrate Tomahawk targeting applications to the Precision Targeting Workstation designed, developed, and produced by BAE SYSTEMS

Apr 02. Massachusetts Institute of Technology, Cambridge, Mass., was
awarded a requirements contract with the potential of $70,000,000 for developing the Institute of Soldier Nanotechnologies University Affiliated Research Center as the center of excellence for the Army. The purpose of this research center is to develop unclassified nanometerscale science and technology solutions for the soldier. The contractor will work closely with industrial partners and with DoD research organizations to accelerate the transition of research to products with potential military application to enhance soldier survivability. Work will be performed in Cambridge, and is to be completed by April 30, 2007.

1 May 02. FLIR Systems, Inc. (Nasdaq:FLIR – news) announced today that it has been awarded a $7.3m contract by the Naval Surface Warfare Center, Crane Division to complete the upgrade of the infrared imaging systems used on U.S. Marine Corps’ fleet of UH-1N “Huey” helicopters. Under the contract, FLIR will complete the upgrade of the U.S. Marine Corps’ SAFIRE™ thermal imaging systems to its Star SAFIRE™ system.
The Star SAFIRE system utilize

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