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News Breaks
May 22, 2014
10:31 EDTGD, XLSExelis awarded two contracts by General Dynamics UK for $617M
Exelis (XLS) was awarded two contracts by General Dynamics (GD) UK to support U.K. Ministry of Defence tactical communications modernization and logistics, supply and support for existing tactical radios. The Exelis work will support General Dynamics’ recently announced contract award from the MoD valued at $617M. The first award is a five-year contract to provide post-engineering design services for VHF and UHF radios manufactured by Exelis for the U.K. Bowman team. Exelis was the manufacturer of those radios as part of the General Dynamics U.K.-led Bowman program. The second contract is a five-year contract for logistics, supply and support of current tactical radios fielded as part of the Bowman program. This support will include replacements and repairs of existing radios currently being used by the MoD.
News For XLS;GD From The Last 14 Days
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July 1, 2015
09:31 EDTXLSHarris announces new organizational structure
Harris (HRS) announced that it will reorganize its business segments to increase operational efficiency and capture synergies that result from Harris’ recent acquisition of Exelis (XLS). Effective the beginning of fiscal 2016, July 4, the company will be organized in the following four business segments: Communication Systems, led by Chris Young. The segment will serve markets in tactical and airborne radios, night vision technology, and defense and public safety networks; Critical Networks, led by Carl D’Alessandro. The segment will provide managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as high-value IT and engineering services; Electronic Systems, led by Ed Zoiss. The segment will offer an extensive portfolio of solutions in electronic warfare, avionics, wireless technology, C4I, undersea systems and aerostructures; Space and Intelligence Systems, led by Bill Gattle. The segment will provide complete earth observation, weather, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics.
June 29, 2015
07:22 EDTGDBWX Technologies would be M&A fit for Huntington Ingalls, says Deutsche Bank
Deutsche Bank noted that the planned spin-off of BWX Technologies (BWXT) from Babcock & Wilcox (BWC) is scheduled to be completed this week on July 1, stating that it believes the spun off company is likely to attract the attention of strategic players such as Huntington Ingalls (HII) and General Dynamics (GD). The firm thinks the potential M&A fit looks "most striking" for Huntington and estimates that a deal multiple could reach 10-11X the about $300M in EBITDA at BWX Technologies, which would likely be "worth the stretch" for the shipbuilder.
June 26, 2015
07:26 EDTGDSRA International exploring sale or IPO, Reuters reports
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June 24, 2015
10:00 EDTGDGeneral Dynamics receives $219M order for US Army's WIN-T increment 2 systems
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