Andrea's Feed
Dec 19, 2013

Bell Helicopter sees new aircraft matching Asia pivot

FORT WORTH, Texas (Reuters) – The tilt-rotor aircraft that Textron Inc’s (TXT.N: Quote, Profile, Research, Stock Buzz) Bell Helicopter is designing for a U.S. Army competition would help troops travel longer distances as the military shifts focus to the Asia-Pacific region, a company official said.

Bell is trying to capitalize on its experience building the V-22 Osprey tilt-rotor plane together with Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) as it designs a lighter, cheaper and less complex aircraft, the V-280 Valor, that could eventually translate into billions of dollars of orders for the winner of the Army competition.

Dec 18, 2013

Boeing promotes defense chief to chief operating officer

WASHINGTON (Reuters) – Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) on Wednesday promoted Dennis Muilenburg, head of its defense division, to the post of president and chief operating officer, a move that company insiders and analysts said makes him “heir apparent” to Chief Executive Jim McNerney.

Muilenburg, 49, and Ray Conner, the 58-year old head of the Boeing Commercial Airplanes unit, were both named vice chairmen, Boeing said in a statement.

Dec 18, 2013

Boeing names defense chief as chief operating officer

WASHINGTON, Dec 18 (Reuters) – Boeing Co on Wednesday
named Dennis Muilenburg, head of its defense division, as
president and chief operating officer, a move that company
insiders and analysts said makes him the “heir apparent” to the
company’s chief executive, Jim McNerney.

Muilenburg, 49, and Ray Conner, the 58-year old head of
Boeing’s commercial business, were both appointed to new roles
as vice chairman of the company, Boeing said in a statement.

Dec 17, 2013

Analysis: Aerospace M&A likely to get boost from U.S. budget deal

WASHINGTON/LONDON (Reuters) – A U.S. budget agreement making its way through Congress could set off the most robust series of mergers and acquisitions in the aerospace and defense sectors in years, industry leaders and experts say.

The two-year agreement, which is likely to pass the Senate this week, is expected to reassure contractors on government spending and unleash pent-up demand for deals, according to analysts. The House of Representatives approved the budget plan last week.

Dec 17, 2013

Aerospace M&A likely to get boost from U.S. budget deal

WASHINGTON/LONDON (Reuters) – A U.S. budget agreement making its way through Congress could set off the most robust series of mergers and acquisitions in the aerospace and defence sectors in years, industry leaders and experts say.

The two-year agreement, which is likely to pass the Senate this week, is expected to reassure contractors on government spending and unleash pent-up demand for deals, according to analysts. The House of Representatives approved the budget plan last week.

Dec 16, 2013

Lockheed sees strong cyber demand despite NSA scandal: CEO

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the Pentagon’s No. 1 supplier and top provider of information technology to the U.S. government, said on Monday there is continued demand for cybersecurity services, despite the National Security Agency spying scandal.

Lockheed Chief Executive Marillyn Hewson told Reuters in an interview on Monday that concerns about alleged spying by the NSA were not slowing the company’s aggressive push to market its information technology and cybersecurity services overseas.

Dec 16, 2013

Lockheed may revise 2014 outlook if U.S. budget deal passes

WASHINGTON (Reuters) – U.S. weapons maker Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) may revise upward its financial outlook for 2014 if Congress passes a two-year budget deal that would blunt the effect of mandatory budget cuts, Marillyn Hewson, the company’s president and chief executive officer, told Reuters on Monday.

Hewson said she hoped the U.S. Senate would approve the agreement, which was passed by the House of Representatives last week, and was optimistic that further cuts required under sequestration could be eliminated as the U.S. economy improved.

Dec 14, 2013

Lockheed sees F-16 fighter jet production continuing through 2020

FORT WORTH, Texas (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) has enough orders to keep its F-16 fighter jet production line humming through the third quarter of 2017, and hopes to land additional orders that would keep the line running through 2020, company executives say.

Around that time, the cost of Lockheed’s new F-35 stealth fighter will have dropped so far that potential customers will likely opt for the newer jet, Bill McHenry, Lockheed’s head of F-16 business development, told Reuters in a recent interview.

Dec 14, 2013

Lockheed aims to deliver all 36 F-35 jets in 2013, sees progress on program

FORT WORTH, Texas, Dec 13 (Reuters) – Lockheed Martin Corp
still expects to deliver the final seven of 36 F-35
fighter jets to the U.S. government from its Fort Worth, Texas
facility, before year-end despite a five-day halt in test
flights due to bad weather over the past week, the company’s
F-35 program manager said on Friday.

Lorraine Martin, executive vice president and F-35 general
manager, said 2013 has been a transformative year for the $392
billion program, marking the beginning of pilot and maintainer
training, reductions in production costs, and progress on
software, weapons testing and other technical issues.

Dec 12, 2013

Exelis spinoff not preparation for possible sale -CEO

WASHINGTON, Dec 12 (Reuters) – David Melcher, chief
executive of Exelis Inc, said a spinoff of the company’s
services business was not aimed at preparing either entity for a
possible takeover and there had been no “pre-existing” talks
about any such deals.

“That is not the intent,” Melcher told Reuters after Exelis
announced its plan to spin off its Mission Systems business by
the summer of 2014. “The intent is to continue to operate both
of these companies in the marketplace.”