Supply chain woes lower L3Harris' Q3 revenue

by Marc Selinger

L3Harris Technologies is having trouble getting electronic components for its military radios because of pandemic-related disruptions in the global supply chain, according to the US defence contractor.

The problem contributed to a 1% decline, to USD4.2 billion, in L3Harris' organic revenue in the third quarter of 2021, the company reported on 29 October.

“No company is immune, including L3Harris, to global supply chain pressures,” L3Harris CEO Christopher Kubasik told analysts.


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Piaggio Aerospace relaunches sale process

by Charles Forrester

Piaggio Aerospace announced on 19 January that it was re-opening the sale process to acquire the company. (Piaggio Aerospace/Paul Cordwell)

Piaggio Aerospace announced on 19 January that it has formally restarted the process for finding a new owner following the collapse of a potential bid last year.

The company's Extraordinary Commissioner, Vincenzo Nicastro, announced the relaunching of the sale, with formal advertisements being placed in a number of financial news outlets.


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QinetiQ US, Teledyne FLIR Defense get new leaders

by Marc Selinger

UK-based defence contractor QinetiQ Group has named Northrop Grumman executive Shawn Purvis as president and CEO of its US business, according to a 17 January announcement.

Purvis has been president of Northrop Grumman's Enterprise Services organisation for the past four years, overseeing the US defence contractor's information systems. At QinetiQ US, she will replace Mary Williams, whose decision to step down was revealed in October 2021.


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UK CMA finishes review of Cobham's bid for Ultra Electronics

by Marc Selinger

The UK Competition and Markets Authority (CMA) has completed its assessment of whether Cobham Group's proposed acquisition of Ultra Electronics raises national security concerns, the CMA announced on 18 January.

The report, which has not been publicly released, is in the hands of UK Business Secretary Kwasi Kwarteng, who requested the review in August 2021. Kwarteng will “carefully consider” the document before deciding on next steps, including whether the acquisition should receive further scrutiny or be approved with conditions, according to a government spokesperson.


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https://www.janes.com/defence-news/industry-headlines/latest/supply-chain-woes-lower-l3harris-q3-revenue

L3Harris Technologies is having trouble getting electronic components for its military radios becaus...

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