Boeing,
Textron Systems Team up for JLTV
Boeing Company [NYSE: BA] and Textron Inc. [NYSE:
TXT] announced a teaming agreement to compete for the Joint
Light Tactical Vehicle (JLTV) program for the supply of
future tactical vehicles for the U.S. Army and U.S. Marine Corps.
In the near term the cooperation spans over technology demonstration
and system development expanding to future production, if the
team will win the program. The team will benefit from Boeing's
vast program management and system integration experience. Although
the specific requirements for the JLTV have not been released
yet, the baseline vehicle is expected to include significantly
more sophisticated systems, compared to current tactical and
utility vehicles. It will be delivered as 'network ready', and
at least some variants are believed to be powered by modern
hybrid electric drive systems which could also operate as power
generators. The JLTV system is a family of vehicles intended
to replace the High Mobility Multi-purpose Wheeled Vehicle (HMMWV).
10/18/2007: Lockheed Martin (NYSE:LMT) and Patria
announced today a teaming agreement to offer the US Marine Corps
Patria's Advanced Modular Vehicle (AMV) to compete for the Corp's
next generation armored troop carrier known as Marine Personnel
Carrier (MPC). The service is expected to release a request
for proposals during the second quarter of 2008. Lockheed has
expanded its military vehicle offering with the recent introduction
of a company funded, production ready JLTV technology demonstrator,
as well as prime movers and command vehicles for the USMC, and
a rocket carrier and an improved Warrior combat fighting vehicle,
both considered for future British army programs.
Textron Forecasts 13% Growth
for 2007. Further Synergy to be gained from entry into the UAV
Market by UIC Acquisition
Textron Inc. (NYSE: TXT) reported today (Oct 18,
2007) a strong third quarter with 15% year-over-year revenue
growth as income from continuing operations increased to $0.95
per share, compared to $0.68 in the third quarter of 2006 demonstrating
40% increase in earnings per share. The company's helicopter
and government business (Bell helicopters and Textron Systems
divisions) increased $121 million in revenue during the quarter,
reflecting some $108 million government sales, particularly
strong V-22 and H-1 sales, armored vehicles and intelligent
battlefield systems sales.
Earlier this month Textron Inc. (NYSE: TXT) announced
that it has reached a definitive agreement to acquire United
Industrial Corporation (NYSE: UIC) in a cash transaction valued
at approximately $1.1 billion. UIC is the holding company of
AAI Corporation a UAV specialist which projected an annual turnover
of about $700 million for 2007. The new operation is expected
to further benefit from Textron's recent acquisition of software
maker Overwatch Systems, which now provides essential building
blocks for its precision engagement strategy. AAI is the prime
contractor for the US Army One System unified ground control
system controlling all US Army's unmanned systems while Textron
Systems is the provider of the Army's new unattended sensors
and intelligent munitions, considered to be a major element
in the Army's Future Combat Systems strategy.
New Investment Firm Targets
Aerospace and Transportation Growth Opportunities
The new investment firm Nexa Capital Partners,
LLC (www.nexacap.com) began operating today, targeting "
high-growth, transformational opportunities" for investment
in the aerospace and transportation market worldwide. The company
is led by Michael J. Dyment, former Managing Director, Vice
President, and Partner of PricewaterhouseCoopers, AT Kearney
and Arthur Andersen, and Justin P. Oberman, former Assistant
Administrator of the Transportation Security Administration
(TSA). Expecting the aerospace and transportation sectors to
undergo extraordinary and fundamental changes over the next
twenty years, Dyment positioned Nexa to take advantage of these
changes, and "along the way building enterprise value for
our investors and our aerospace and transportation clients".
Their current portfolio includes several promising holdings,
including Primair Inc. and TraceGuard Technologies. Nexa facilitates
financing through the firm’s network of hedge funds, private
equity firms and venture capitalists. The company’s business
model includes plans to take direct equity stakes in selected
companies.
Thales UK and Boeing Selected
to Lead FRES System of Systems Integration
The United Kingdom Ministry of Defence (MoD) selected
a team led by Thales UK and Boeing [NYSE: BA] (through its Boeing
Defence UK subsidiary) to lead the System of Systems Integration
(SOSI) of the Future Rapid Effect System (FRES) program. Boeing
is also the prime contractor of the US Army Future Combat Systems
program which, in some aspects, particularly in the overall
system of systems approach, has similarities to the British
FRES effort.
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