WASHINGTON, Aug 23 (Reuters) – The U.S. unit of British
aerospace and defense manufacturer Meggitt Plc has
agreed to pay up to $25 million to resolve hundreds of possible
export control violations the company uncovered in a review of
operations dating back to the mid-1990s, the U.S. State
Department said on Friday.
It said the settlement was part of a consent agreement. The
State Department said it conducted a compliance review after
Meggitt disclosed multiple potential violations of U.S. export
control laws through shipments to India, China and other
WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) said it is close to an agreement with the Pentagon for a more portable and 40 percent cheaper version of the operations and logistics system that controls the F-35 fighter, the Pentagon’s most expensive weapons program.
Lockheed aims to finalize a contract with the Pentagon’s F-35 program office in coming weeks that will pay for development of lighter units to operate the new warplanes when they are deployed or based on ships, company officials told Reuters late on Wednesday.
WASHINGTON, Aug 21 (Reuters) – The U.S. government has
slashed its estimate for the long-term operating costs of
Lockheed Martin Corp F-35 fighter jets by more than 20
percent to under $1 trillion, according to a senior defense
official, a move that could boost international support for the
The Pentagon has been under pressure for over a year to
revise its estimate of maintaining a fleet of more than 2,000
F-35s over 55 years, with industry and military officials
arguing that many of the assumptions were outdated and off base.
WASHINGTON (Reuters) – Linda Hudson, chief executive officer of the U.S. unit of Britain’s BAE Systems Plc (BAES.L: Quote, Profile, Research, Stock Buzz), will retire early next year, the weapons maker said on Tuesday.
The company said it would start a search for a successor. Hudson, 62, joined BAE in 2007 and took over as CEO of the U.S. unit in 2009.
WASHINGTON (Reuters) – Some U.S. lawmakers are calling for the Obama administration to shut off aid to Egypt in the aftermath of the army’s lethal crackdown on protesters. But untangling the aid relationship with Cairo would not be simple and could be costly for the United States as well as Egypt.
A special financing arrangement Cairo uses could leave U.S. taxpayers holding the bill for billions of dollars in equipment Egypt already has ordered on credit, and companies like Lockheed Martin and General Dynamics that build military hardware for Egypt would be affected by aid restrictions.
WASHINGTON (Reuters) – The U.S. Defense Department on Thursday unveiled steps to combat sexual assaults in the armed forces by increasing protection for victims, beefing up oversight of investigations, and making responses to such crimes more consistent across the military.
“Sexual assault is a stain on the honor of our men and women who honorably serve our country, as well as a threat to the discipline and the cohesion of our force. It must be stamped out,” Defense Secretary Chuck Hagel said in a statement.
WASHINGTON (Reuters) – Textron Systems, a unit of Textron Inc (TXT.N: Quote, Profile, Research, Stock Buzz), says strong demand from the Middle East and Asia for unmanned systems, ground vehicles and smart weapons will help expand foreign sales to about half of the division’s total revenues in coming years.
Ellen Lord, president and chief executive officer of Textron Systems, said international sales had already grown to about 35 percent of total revenues from less than 10 percent in 2009, and would continue to expand toward a 50-50 split in coming years.
WASHINGTON, Aug 13 (Reuters) – Alliant Techsystems Inc
on Tuesday said it had won an order from Orbital
Sciences Corp to provide solid rocket motors for a new
air-launched space transport system that is part of Microsoft
co-founder Paul Allen’s latest venture.
Blake Larson, president of ATK Aerospace Group, gave no
details on the size and scope of the contract, but told Reuters
the deal was “certainly substantial”.
HUDSON, New Hampshire, Aug 12 (Reuters) – Britain’s BAE
Systems is gearing up for strong growth in commercial
and international orders for its wide range of electronic
systems, and expects that to help offset declining military
spending in the United States and Europe.
Paul Markwardt, deputy general manager of the electronic
systems division of the company’s U.S. unit, BAE Systems Inc.,
said he expected foreign and commercial sales to expand,
accounting for half or more of the division’s annual revenues
within the next five years, up from about 35 percent currently.
WASHINGTON, Aug 5 (Reuters) – Lockheed Martin Corp
on Monday said it is developing a universal package of cockpit
equipment, electronics and weapons for the U.S. Army’s
next-generation helicopter, an approach it says will save money
and time, and make future upgrades easier.
Lockheed, the Pentagon’s No. 1 supplier, is pooling
resources across the company to develop a mission equipment
package for the 4,000 next-generation helicopters that the Army
expects to starting field around 2034 – and other helicopters
operated by the U.S. military and countries around the world.