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Defense Markets Summary
January 2008 (past reports)

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Titan's Acquisition Consolidates Chemring's Simulation Offering

Chemring Group PLC, a leading producer of expendable decoy countermeasures announces is set to buy the U.S. based Titan Dynamics Systems, Inc. from the Allied Defense Group (ADG). Chemring agreed to pay $4.75 million in cash for all Titan's stocks. As a privately held company, Titan was acquired by the Allied Research Corporation in 2002 but now, ADG is oriented toward weapons and ammunition activities and decided to divest its non-strategic assets.

Aerospace & Defense Sector Demonstrates Continued Growth

Some of the leading corporations in the aerospace and defense market published their fourth quarter and annual reports for 2007, indicating continued growth and prosperity for this market segment, which is considered to be 'inflation proof'. Lockheed Martin reported net earning of $3 billion for 2007, Northrop Grumman earned $1.8 billion, and General Dynamics reported over $2 billion profit. In contrast to the higher yields, declined profits were reported by two of United technologies' aerospace and defense operations - engine maker P&W and Sikorsky.

BAE Systems Closes Pinzgauer 1 Production Line

BAE Systems plans to close the manufacturing facilities at Guildford and Fareham and discontinue production of the Pinzgauer 1, with the potential loss of up to 102 jobs. Development of the Pinzgauer 2 vehicle will be transitioned to the BAE Systems South Africa business.

New Enterprise for Armored vehicles to be Established in Omsk

The Russian ministry of defense, acting under presidential decision, is establishing an armored-vehicle manufacturing holding company to be operating from Omsk. First Deputy Prime Minister Sergei Ivanov said the new holding will include 16 Omsk-based enterprises and design bureaus. The long term goal is to establish a single Russian armored vehicle manufacturing enterprise under the Uralvagonzavod Research and Production Corporation. The enterprises to be included in the new company include the transport engineering design bureau (TEDB), a special-purpose hardware development and production center. The Omsk transport engineering plant (OTEP) which will soon resume armored vehicle repair and modernization of tanks, as well as civilian wheeled tractors and cars. The new corporation already produced T-90 tanks for the Russian defense forces and export, and is expected to begin production of "Terminator" tank support vehicles (BMPT). Uralvagonzavod is expected to assume responsibility for the production of Russia's future tank, the T-95.

Harris Receives $158 Million in New Orders for Falcon radios

Harris was awarded multiple orders for the supply of Falcon family of radios to the U.S. forces, with a total value worth US$158 million. These orders include $118 for Falcon II High Frequency vehicular radios, $26 million for the supply of AN/PRC-152Falcon III systems to the U.S. Air Force and additional $14 million order from the U.S. Marine Corps for Falcon III AN/VRC 110 vehicular radio systems to be installed in new Mine Resistant Ambush Protected (MRAP) and other tactical vehicles. These vehicles will also incorporate JTRS-approved AN/PRC-152 handheld radios. This is the third order under the $212 million Tactical Handheld Radio (THHR) IDIQ contract awarded to Harris last summer. Dana Mehnert, president of Harris RF Communications confirmed that the company further increased its production capacity to address the higher expected demand in the second half of fiscal 2008 and beyond."

UK based Cobham plc Acquires US Based Sparta, Inc. for $416 million

UK based defense electronics company Cobham Plc will acquire SPARTA Inc, a US based IT service provider for to the defense, intelligence, and homeland security sectors of the federal government. Cobham will pay $77.60 in cash for each share of SPARTA common stock, representing net aggregate purchase price of $416 million. The acquisition is expected to close in the second quarter of 2008. Cobham plans to finance the transaction from its currently available cash and debt facilities. After completion of the transaction, SPARTA will become Cobham's engineering and scientific services platform. According to Allan Cook, Cobham Chief Executive, "SPARTA, as one of the leading companies in areas of critical importance in the provision of U.S. National Security, will provide Cobham with an exciting platform for growth in the Systems Engineering and Technical Assistance segment, which is complementary to our existing U.S. intelligence and defense capabilities. This is a major step forward in the implementation of Cobham's technology strategy and the creation of a significant Tier 2 business supplying the U.S. DoD and intelligence markets." said Cook.

Northrop Grumman Realigns its Shipbuilding, Missiles Operations

Northrop Grumman Corporation announced a strategic realignment of several of its operating sectors in an effort to improve customer support and utilization of resources. Under this realignment the company created a single shipbuilding sector called Northrop Grumman Shipbuilding which will merge its Newport News and Ship Systems operations creating a single management for the company's annual turnover of approximately $5.5 billion in revenues from military shipbuilding and support.

Mississippi State University Develop Portable Fuell Cell-Battery with Ultralife

The Mississippi State University (MSU) will develop a portable power system to support long endurance military applications. The development is funded by a $1.6 million program awarded by a U.S. Defense Department. MSU established a 'technology partnership' with Ultralife (NASDAQ: ULBI) for the development, awarding the company $475,000 contract to participate in this program as a subcontractor.

BAE Systems' Wins Army MMPV Program

Selected by the US Army to Supply up to 2,500 Engineer support vehicles at potential value of $2.28 billion
BAE Systems has been selected by the U.S. Army to be the sole producer of the new Medium Mine Protected Vehicle (MMPV), and has been awarded an initial $20 million delivery order under the $2.288 billion MMPV program. The MMPV contract envisions production of up to 2,500 vehicles for use by U.S. Army Engineers and Explosive Ordnance Disposal teams through 2015.

Northrop Grumman Leads an Industry Team Pursuing Army ACS

Northrop Grumman Corporation (NYSE:NOC - News) announced today that it will lead a team to compete for the U.S. Army's Aerial Common Sensor (ACS), an airborne platform that will provide the warfighter with actionable intelligence, reconnaissance, surveillance and target acquisition capability. Northrop will serve as prime contractor and overall systems integrator for ACS. Other team members include AAI Corporation, an operating unit of Textron Systems Corporation; General Dynamics C-4 Systems, Scottsdale, Ariz.; and L-3 Communications Corp., New York.

General Atomics Team with Sener, Promoting Predator in Spain

General Atomics Aeronautical Systems, Inc. (GA-ASI) is teaming with SENER Ingeniería y Sistemas, S.A., a leading Spanish engineering, consulting and systems integration company, to promote GA-ASI's Predator Unmanned Aerial Systems meeting Spain’s airborne surveillance and reconnaissance requirements.

ATK, ADG (Mecar) team to Modernize Stocks of Aging Tank Ammo

Alliant Techsystems (NYSE: ATK) and Allied Defense Group, Inc. (AMEX:ADG are teaming to modernize tank ammunition introducing Insensitive Munition (IM) based propellants and explosives. The team will initially focus on propellant replacement for aging tank rounds, produced in the 1980s, as they reach their 20 year shelf life limit. The introduction of IM has been mandatory in Europe, and will improve safety of ammunition in storage and during transportation, improve the mobility of supplies, both on land and at sea, and improve safety and survivability of armored vehicles carrying the ammunition.

Northrop Grumman to Lead JLTV Team with Oshkosh Truck Corp.

Northrop Grumman Corporation (NYSE: NOC) and Oshkosh Truck Corporation (NYSE: OSK) have teamed to compete for the U.S. military’s next-generation family of lightweight vehicles. According to the teaming agreement, if selected, the prime contractor for the program will be Northrop Grumman's Mission. Oshkosh Truck’s Defense Group will be responsible for designing, engineering and manufacturing the vehicle. Other bidders planning to compete on Joint Light Tactical Vehicle (JLTV) include the Boeing-Textron Systems team, Lockheed Martin and BAE Systems Mobility & Protection Systems, General Dynamics and AM General (the GTV team) and BAE Systems and International Military and Government.



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