Indian engineering major Larsen & Toubro has formed a 74/26 Joint Venture with Cassidian, for defence electronics. The JV, based in Talegaon and Bangalore where L&T has its defence facilities, will cover manufacturing, design, engineering, distribution and marketing in the fields of electronic warfare, radars, avionics and mobile systems for military applications. Around $20 million will be invested initially.
Category Archives: Business News
Ultra Electronics Makes Two US Acquistions
UK’s Ultra Electronics started the year with two US acquisitions: Adaptive Materials (AMI) for $23 million cash plus another $5 million based on future performance, and 3e Technologies International, for $30 million. AMI designs and makes propane fuel cells suitable to power small UAs demanding 50W-300W power, and 3e makes military grade wireless networking and communications equipment.
Imint Partners with L-3 Communication Systems-West for Real-Time Aerial Video Intelligence
The Swedish aerial video exploitation software firm Imint and US-based L-3 Communications Systems-West, a leader in high-speed digital communication systems that connect air, space and ground systems, are partnering to provide enhanced video intelligence exploitation from airborne surveillance. Continue reading
Insitu CEO Steps Down
Steve Sliwa, chief executive of Insitu Inc., a subsidiary of The Boeing Co., will retire April 1 after 10 years with the company. A replacement is currently being sought.
AeroVironment Gets $7.8M for Raven Upgrades
AeroVironment, Inc. has announced that it received a firm fixed-price order valued at $7,800,003 under an existing contract with the U.S. Army on January 25, 2011. The order comprises 919 digital module upgrade kits for the U.S. Marine Corps. The upgrade kits allow digital Raven unmanned aircraft systems to operate using a different frequency band than provided by the regular configuration.
Magna Parva to Focus on UAS – New Head of Defence Business
UK extreme engineering specialist Magna Parva, known for its Payload Release Devices for UAS, has appointed Chris Day to head up its defence business. The appointment will boost the company’s expertise in unmanned aircraft systems, a field of increasing focus for Magna Parva. His previous position was VP ISTAR & UAV Systems at global aerospace company Thales, where he was also director of the £150 million Thales / Elbit JV company UtaCs.
US Army UAS Expert Wins Department of Defense Civilian Service Award
Tim Owings, Deputy Project Manager for the US Army Unmanned Aircraft Systems (UAS) has received the DOD Distinguished Civilian Service Award, the highest award given to a Department of Defense civilian.
AeroVironment Stock Price Up – CEO Sells
Timothy E. Conver, AeroVironment’s CEO and Trustee of The Conver Family Trust, has established a pre-arranged stock trading plan to sell a portion of company stock held by the Trust. The company’s shares reached over $28 last week as a result of unusually high trading volume. Analysts at Pacific Crest upgraded shares from a “sector perform” rating to an “outperform” rating.