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Analysis and news for the global defence industry |
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Global Defense IPO priced lower than expected
US-based Global Defense Technology and Systems initial public offering (IPO) has been priced at USD13 per share: somewhat lower than market expectations. The price...
20-Nov-2009
Sweden announces dates for AWV contest re-run
Sweden will start a new procurement contest for its Armoured Wheeled Vehicle (AWV) requirement in December this year and hopes to conclude the process...
20-Nov-2009
Safran completes EUR750 million inaugural bond issue
French propulsion and defence systems group Safran has completed its inaugural bond issue, raising EUR750 million (USD1.1 billion) with a view to funding continued ...
20-Nov-2009
Briefing: Oil costs fuel Australian energy-saving initiatives
The Australian Department of Defence (DoD) has implemented a series of initiatives over the past year in a bid to reduce energy operating costs ...
20-Nov-2009
Metal Storm holds out hope for lifeline payment despite previous delays
Australian company Metal Storm expects to receive a critical lifeline payment from foreign investor Assure Fast Holdings Limited (AFHL) no later than 23 November, although...
20-Nov-2009
Report urges greater Indian government support for SMEs
India needs to provide greater support to small and medium-size enterprises (SMEs) entering the defence sector as the country embarks on a military modernisation ...
20-Nov-2009
Chemring raises $280m to fund Hi-Shear Technology purchase
Chemring has raised USD280 million through the placement of loan notes with insitutional investors in order to fund the acquisition of Hi-Shear Technology - ...
20-Nov-2009
Sweden opts for AWV re-run
Sweden will re-run its armoured wheeled vehicle (AWV) contest, after the country's defence procurement body decided against appealing a ruling from a Swedish court which...
19-Nov-2009
'Tiny' cuts cause massive funding gaps, warns leading UK executive
A senior UK defence industry executive has urged politicians not to discount what they may consider to be marginal cuts to funding when it comes...
19-Nov-2009
Jordan's KADDB signs production deals western companies
Jordan's King Abdullah II Design and Development Bureau (KADDB) has signed five separate defence production and technology transfer deals with western defence companies, it ...
19-Nov-2009
Chemring order book surges on US push
UK countermeasures specialist Chemring saw its order backlog jump 37 per cent to GBP559 million (USD939 million) during the year to 31 October, reflecting ...
19-Nov-2009
SAIC clinches US Army engineering support task order
Science Applications International Corporation (SAIC) has won a follow-on task order from the US Army Aviation and Missile Command (AMCOM) to provide professional and ...
19-Nov-2009
CIA fund In-Q-Tel invests in FireEye
In-Q-Tel - the not-for-profit venture capital firm established by the US Central Intelligence Agency (CIA) - has agreed to make a "strategic investment" in ...
19-Nov-2009
Indian industry body repeats call for raising of FDI limit
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has reiterated its call for the Indian government to raise the limit on foreign direct...
19-Nov-2009
Elbit completes purchase of BVR Systems
Israel's Elbit Systems has completed its acquisition of BVR Systems Ltd for GBP34 million (USD57 million), it was announced on 19 November. Located in...
19-Nov-2009
Indonesia compiles inventory to aid defence industry revitalisation
The Indonesian government has commenced a programme to draw up a comprehensive list of armed forces requirements over the next decade and beyond in ...
19-Nov-2009
Daewoo Shipbuilding records surge in 3Q net income
South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has recorded strong sales and profit figures during the third quarter of Fiscal Year 2009 (3Q09) ...
19-Nov-2009
FitchRatings downgrades Thales outlook from stable to negative
Corporate credit ratings agency FitchRatings has downgraded its outlook for Thales from stable to negative, arguing that the defence electronics giant "may come under ...
19-Nov-2009
QinetiQ appoints former judge to oversee post-Nimrod investigation
UK defence technology company QinetiQ Group has appointed former High Court judge Sir Robert Nelson to oversee its formal investigation into the conclusions and ...
19-Nov-2009
Briefing: Local industry needs more time to benefit from Indian procurement revamp
The impact of India's updated defence procurement procedures (DPPs) on indigenous defence production will be limited unless the Ministry of Defence (MoD) allows local industries...
18-Nov-2009
Arrow Electronics agrees to buy AE Petsche
Electronic components supplier Arrow Electronics has agreed to buy AE Petsche, a US-based supplier of speciality wires, cables and relays for the aerospace and ...
18-Nov-2009
Contenders submit Warrior upgrade bids
Both BAE Systems and Lockheed Martin have formally submitted their bids for the UK Ministry of Defence's (MoD's) Warrior Capability Sustainment Programme (WCSP). BAE...
18-Nov-2009
Quickstep moves to seal JSF accord with Marand
Australian group Quickstep Holdings has signed an agreement with Melbourne company Marand Precision Engineering to supply composite vertical tail skins for the Joint Strike ...
18-Nov-2009
Lockheed Martin secures Korean destroyer work
Lockheed Martin Maritime Systems & Sensors has won a USD41.1 million contract from the US Navy to supply combat systems engineering services for the...
18-Nov-2009
BEML pays USD5.8 million in dividends to MoD
State-owned Indian defence company BEML (formerly known as Bharat Earth Movers Limited) has paid the Indian Ministry of Defence (MoD) dividends worth INR270 million ...
18-Nov-2009
Global Defense Tech prepares IPO to fund acquisitions
US-based Global Defense Technology and Systems expects to raise around USD40.4 million from its initial public offering (IPO), as it focuses on developing market ...
18-Nov-2009
Elbit Systems Q3 net profit jumps 64%
Israel-based defence electronics company Elbit Systems has posted a 63.7 per cent rise in net profits of USD58.3 million for the third quarter of ...
18-Nov-2009
DSCA announces possible sales to Singapore and Kuwait
The Defense Security Co-operation Agency (DSCA) has announced the possible sale of Joint Direct Attack Munitions (JDAM) guidance kits to Singapore and the provision ...
18-Nov-2009
Northrop Grumman receives $635m USN submarine support contract
Northrop Grumman has won a USD635 million contract to provide modernisation support for the US Navy's Los Angeles-class and Seawolf-class submarines. Announced by the...
18-Nov-2009
BAE Systems to deliver armour bar kits for MRAP vehicles
BAE Systems has received a USD42 million contract to produce L-ROD bar armour kits for the US Army TACOM Life Cycle Management Command's RG-31 ...
18-Nov-2009
DRS Technologies wins Aegis comms system contract
Finmeccanica subsidiary DRS Technologies has won a USD14 million indefinite delivery indefinite quantity (IDIQ) award from the US Navy (USN) to provide a modernised ...
18-Nov-2009
Dubai Air Show: AgustaWestland latest to announce UAE joint venture
AgustaWestland became the latest major aerospace company to announce the establishment of a joint venture (JV) company in the United Arab Emirates (UAE) during ...
18-Nov-2009
JF Lehman sells Atlantic for $235m profit
US private equity firm JF Lehman & Company has agreed to sell guidance and navigation systems specialist Atlantic Inertial Systems to Goodrich Corporation for ...
18-Nov-2009
VT Group has UK Defence Support Group in its sights
UK support services company VT Group is keen to acquire the UK Ministry of Defence's (MoD) Defence Support Group (DSG) should it be put up...
17-Nov-2009
India puts EADS/L&T venture on hold once more
A proposal by EADS Deutschland and Indian firm Larsen & Toubro (L&T) to form a defence joint venture (JV) in India has been deferred for...
17-Nov-2009
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