Andrea's Feed
Oct 17, 2014

Export-Import Bank backed $1.7 billion in civil aviation deals since 2012

By Andrea Shalal

COATESVILLE Pa. (Reuters) – The embattled U.S. Export-Import Bank on Thursday said it had authorized $1.7 billion in financing to support U.S. exports of helicopters, business jets and agricultural aircraft since fiscal 2012, aiding a sector that was hit hard by the 2008 financial crisis.

Fred Hochberg, president and chairman of the Ex-Im Bank, said the financing had helped companies such as Sikorsky Aircraft, a unit of United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz), pump up their exports by giving their customers access to the same kind of export credit financing offered by their competitors.

Oct 16, 2014

U.S. Ex-Im Bank backed $1.7 bln in civil aviation deals since FY12

, Oct 16 (Reuters) – The embattled U.S.
Export-Import Bank on Thursday said it had authorized $1.7
billion in financing to support U.S. exports of helicopters,
business jets and agricultural aircraft since fiscal 2012,
aiding a sector that was hit hard by the 2008 financial crisis.

Fred Hochberg, president and chairman of the Ex-Im Bank,
said the financing had helped companies such as Sikorsky
Aircraft, a unit of United Technologies Corp, pump up
their exports by giving their customers access to the same kind
of export credit financing offered by their competitors.

Oct 16, 2014

Exclusive: Boeing eyes possible Chinook helicopter sale to Brazil

WASHINGTON (Reuters) – The Brazilian Army has expressed interest in buying a handful of Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) CH-47 Chinook helicopters, the company said on Wednesday, saying that it continued to view Brazil as an important partner for defense and commercial projects.

“We have had some early discussions about the Chinook with the Brazilian Army,” Boeing spokesman Scott Day said, when asked about a potential CH-47 sale to Brazil. Day declined to give any details, but said the potential order was “not a large one.”

Oct 16, 2014

Top U.S. Marine says F-35s July due date still ‘doable’

WASHINGTON (Reuters) – The U.S. Marine Corps said on Wednesday it is sticking to a July 2015 target to declare an initial squadron of 10 new Lockheed Martin Corp F-35 fighter jets ready for combat use, but said it would not be devastated if the date slipped to August.

“It’s too soon to flinch,” outgoing Marine Corps Commandant General James Amos said in an interview at his Pentagon office, when asked if the Marines would miss their target date for declaring an initial operational capability (IOC).

Oct 15, 2014

U.S. lags Europe in weather forecasting, investment needed -Navy

WASHINGTON (Reuters) – A top Navy official called for the U.S. government to develop a better unified weather forecasting model to regain a competitive edge now held by Europe, given the growing threats posed by climate change and rising sea levels.

The U.S. effort deserves a grade of “C,” Rear Admiral Jonathan White, the Navy’s top oceanographer and navigator, told the Reuters Global Climate Change Summit.

Oct 15, 2014

Lockheed says makes breakthrough on fusion energy project

WASHINGTON (Reuters) – Lockheed Martin Corp said on Wednesday it had made a technological breakthrough in developing a power source based on nuclear fusion, and the first reactors, small enough to fit on the back of a truck, could be ready in a decade.

Tom McGuire, who heads the project, said he and a small team had been working on fusion energy at Lockheed’s secretive Skunk Works for about four years, but were now going public to find potential partners in industry and government for their work.

Oct 15, 2014

Pratt & Whitney signs deal with Pentagon for next F-35 engines

WASHINGTON (Reuters) – The Pentagon on Tuesday said it had finalized a contract with Pratt & Whitney, a unit of United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz), for a seventh batch of F135 engines for the Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) F-35 fighter jet, and the company had agreed to pay to fix an engine issue that grounded the F-35 fleet this summer.

The U.S. Defense Department said its new $592 million contract with Pratt would cover 36 engines, adding to an earlier advanced procurement contract worth $88 million. The company also won a maintenance contract worth $263 million in December.

Oct 14, 2014

Kongsberg sees billions of dollars in possible missile sales

WASHINGTON, Oct 13 (Reuters) – Kongsberg Gruppen ASA
says its Naval Strike Missile (NSM) and a sister
missile developed to go into the bomb bay of the F-35 fighter
jet could generate billions of dollars of new revenues for the
Norwegian company in coming years.

Walter Qvam, president and chief executive of Kongsberg,
told Reuters that Russian aggression in Ukraine was seen as a
“serious new situation” in Europe, and was already starting to
drive European defense spending higher. Kongsberg was seeing
higher demand for its air-defense system, he said.

Oct 14, 2014

U.S. Army eyes big cost cut in 5-year Apache deal with Boeing

WASHINGTON, Oct 13 (Reuters) – The U.S. Army on Monday said
it expected to secure a 10-percent or greater cost reduction as
part of a five-year agreement with Boeing Co for more
Apache AH-64 attack helicopters that it hopes to negotiate for
fiscal year 2017 and beyond.

U.S. Army Colonel Jeff Hager, Apache program manager, told
reporters the Army still needed approval from Pentagon leaders
to proceed, but such a deal would provide greater stability to
Army leaders, Boeing and the larger industrial base.

Oct 13, 2014

U.S. Army says it faces huge equipment, training risks with budget cuts

WASHINGTON (Reuters) – The U.S. Army warned on Monday that mandatory budget cuts due to resume in fiscal 2016 would be devastating to a service that is already facing huge risks as it tries to keep forces ready for battle, replace aging equipment and respond to crises around the world.

“We have to have a national security debate … because there is too much going on,” U.S. Army Chief of Staff General Ray Odierno told reporters at the annual Association of the U.S. Army (AUSA) conference.