HEADLINES ARCHIVE

  • Fairfax picks up Carillion's Canadian assets

    Following the 15 January announcement that the UK division of Carillion was to enter liquidation, Canada’s Fairfax Financial Holdings announced on 5 February that it will acquire certain elements of the service company’s Canadian business. As a result of failed talks with shareholders

  • GKN, Melrose trade takeover blows

    GKN is continuing to reject a proposed bid from turnaround specialists Melrose Industries to buy out the aerospace and automobile manufacturing company, claiming that the terms of the “derisory” official offer proposed on 1 February have not changed since the planned takeover was first

  • AMETEK announces acquisitions

    US firm AMETEK has announced two acquisitions, worth a total of USD273 million. The first – California-based FMH Aerospace – was valued at USD235 million. The company specialises in the manufacture of pipes and ducting systems for commercial and military aircraft and aero-engines, with

  • China’s AVIC hits USD64 billion in revenues

    The Aviation Industry Corporation of China (AVIC) has reported an increase in yearly revenues but another decline in profits. In a press release on 1 February, the state-owned group said its revenues in the year were a record high of CNY403.5 billion (USD64 billion) – a year-on-year increase

  • General Atomics expands electromagnetic business

    US firm General Atomics Electromagnetic Systems (GA-EMS) Group has acquired assets of Canadian firm Xagenic. Terms of the deal were not disclosed, but the acquisition was announced on 25 January. The acquisition will help GA-EMS expand in the areas of microelectronics, advanced sensors, and signal

  • India to develop defence industrial corridors

    The Indian government has announced two more initiatives to boost indigenous defence industrial capability and reduce reliance on imports. In his budget speech on 1 February, Finance Minister Arun Jaitley said the government will develop “two defence industrial production corridors”

  • Cobham announces divestments to pay down debt

    Troubled UK aerospace and defence equipment manufacturer Cobham announced on 2 February that it was divesting its AvComm and Wireless test and measurement businesses. The two businesses are to be sold to US company Viavi Solutions for an all-cash consideration of USD455 million. AvComm is based in

  • India's defence budget rises marginally

    India’s federal government has announced an INR2.793 trillion (USD43.815 billion) defence budget for fiscal year 2018-19 (FY 2018-19), a 7.73% or INR51.91 billion increase over the previous year’s allocation. Defence officers and analysts told Jane’s , however, that they fear the

  • Political fight looms between European Parliament and Council over defence fund’s rules and financing

    A political battle is brewing between the European Parliament and the Council of Ministers over the scope and funding of the capability window of the European Union’s proposed European Defence Fund (EDF). The European Parliament wants wider multination participation in the projects the window

  • Turkey’s SSM signs R&D contracts to boost critical technology production

    Turkey’s Defence Industries Undersecretariat (SSM) has taken further steps to boost its domestic technological gains in defence under a technology road map adopted earlier by signing agreements on 26 January with local organisations on several research and development (R&D) projects. The

  • Boeing Defense closes 2017 on a high note

    Boeing Defense, Space and Security delivered a solid performance during the fourth quarter, ending a sluggish 2017 on a high note. The division's revenues increased by 5% during the period to USD5.5 billion, while its profits spiked by 13%. Sales, however, fell by 7% for the year as a whole to

  • Serco completes BTP acquisition

    UK services group Serco has completed the acquisition of US satellite communications and radar engineering technical services provider BTP Systems. The closure of the USD20 million deal follows the receipt of regulatory approvals. Serco announced in October 2017 its decision to purchase BTP,

  • Ukraine opens support facility in Bangladesh

    Ukraine has opened a facility in Bangladesh to support the local operation of Russian-made military helicopters, Ukraine’s state-owned defence industrial group UkrOboronProm has announced. According to a press release published by UkrOboronProm on 31 January, the new facility has been created

  • Rolls-Royce announces management changes

    British defence aerospace propulsion manufacturer Rolls-Royce has announced new management appointments, with new presidents of both its Civil Aerospace and Defence divisions revealed. The appointments were prompted by the departure of former Civil Aerospace president Eric Schulz, who was recruited

  • Australia, Lürssen finalise OPV contract

    The Australian government has signed a contract with German shipbuilder Lürssen for the delivery of 12 offshore patrol vessels (OPVs) for the Royal Australian Navy (RAN), it announced on 31 January. Lürssen was selected as preferred tenderer for the programme, which the government in

  • Navantia Australia partners with Taylor Bros on frigate bid

    Navantia Australia has partnered with local marine engineering firm Taylor Bros in support of its bid to meet the Royal Australian Navy’s (RAN’s) requirement for next-generation frigates under project SEA 5000. Through a contract announced by Navantia Australia on 31 January it said it

  • Potential funding gap of GBP21 billion found in UK defence equipment plan

    The United Kingdom’s GBP179.7 billion (USD254.6 billion) 10-year defence equipment plan is underfunded by at least GBP4.9 billion and up to GBP20.8 billion, according to a report released by the country’s National Audit Office (NAO) on 31 January, which warns of cutbacks, delays, and

  • South Korea positions for expansion in Indonesia

    Indonesia and South Korea have pledged to expand defence ties, with emphasis on technology transfers and the development of Indonesia’s defence industrial base. Following meetings in Jakarta on 30 January between Indonesian Defence Minister Ryamizard Ryacudu and his South Korean counterpart

  • Boeing’s HorizonX invests in battery tech

    Boeing has invested in battery technology start-up Cuberg, the most recent foray of the aerospace OEM’s venture capital arm, HorizonX. Cuberg was founded by former Stanford University researchers, and is developing next-generation battery technology for potential aerospace and industrial

  • Lockheed Martin bullish as backlog hits USD100 billion

    Lockheed Martin's CEO, Marillyn Hewson, has said that decisive moves by the Trump Administration during 2017 have been particularly good for the company. According to Hewson, the government’s tax and defence policies have been drivers of Lockheed Martin’s strong recent numbers,

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