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Thu, Oct. 30, 11:33 AM
- United Technologies' (UTX -0.4%) Sikorsky Aircraft unit says it is pulling out of the bidding for a $3B contract to supply helicopters to the Polish military.
- Sikorsky says it is withdrawing because it would have been impossible to deliver their Black Hawk helicopters according to the tender requirements.
- Sikorsky (OTCPK:EADSF, OTCPK:EADSY) was competing with Airbus Group and AugustaWestland, owned by Finmeccanica (OTCPK:FINMF), for a deal to supply 70 machines.
Tue, Sep. 23, 7:53 AM
- Finmeccanica's (OTCPK:FINMY) AgustaWestland unit has sued the U.S. Army over its recent plans to purchase 155 helicopters built by Airbus (OTCPK:EADSY).
- AgustaWestland says that its own helicopters would be cheaper to buy and operate and has asked a U.S. Court of Federal Claims in Washington to issue a temporary restraining order barring the Army from awarding the contract to Airbus.
Thu, Sep. 11, 9:54 AM
- Airbus (OTCPK:EADSY -0.6%) CEO Fabrice Bregier lashed out at the German government this morning for its restrictive export policy on defense goods, saying it could prevent international partners from cooperating on future defense projects.
- "While there are lofty speeches being made that talk about more cooperation and consolidation in European defense, the axe is being swung at decades of Franco-German cooperation," says Bregier.
- Previously, French paper Les Echos reported that Germany was blocking a contract for MBDA to supply a Gulf state with the Milan ER anti-tank missile.
- Shareholders in MBDA include, Airbus, BAE Systems (OTCPK:BAESF) and Finmeccanica (OTCPK:FINMF).
Fri, Aug. 15, 2:35 PM
- Canada's Bombardier (OTCQX:BDRBF, OTC:BOMBF) and Japan's Hitachi (OTCPK:HTHIY) are the two frontrunners to buy the cash-strapped rail subsidiaries of italy's Finmeccanica (OTCPK:FINMF), Reuters reports.
- Finmeccanica has been trying to sell its cash-strapped train division together with its profitable rail signals business for three years to help reduce net debts of €4.8B ($6.4B).
- Bombardier is said to be well-placed to win because it already works with the AnsaldoBreda train division in the development, production and sale of the new Frecciarossa 1000 train.
Thu, Jul. 3, 9:25 AM
- Mitsubishi Electric (MIELY), a missile supplier to Japan's Self Defense Forces, has agreed to partner with European missile consortium MBDA (comprised of Airbus (EADSY), BAE Systems (BAESF) and Finmeccanica (FINMF)), to develop an air-to-air missile for the F-35 fighter jet.
- Looking to bring down its costs of defense manufacturing, Japan is now looking into selling to the global arms market.
- If the partnership finalizes, it will mark the first time Japanese-made defense components will be used on missiles sold abroad, after the country lifted its four decade-old ban on military exports.
Wed, May. 21, 8:30 AM
- Raytheon (RTN) and Lockheed Martin (LMT) are vying to win the deal to provide Germany's future air-defense system.
- Raytheon is the incumbent but Lockheed Martin has been involved in the development of the Medium Extended Air Defense Systems (Mead) along with European missile consortium MBDA, which comprises Airbus (EADSY), BAE Systems (BAESF) and Finmeccanica (FINMF).
- The German government is reviewing its plans after the U.S. decided to stop financing Mead beyond the development stage.
- Raytheon and Lockheed Martin are also competing to win a deal from Poland, and with the onset of the Ukraine crisis, the companies' battle is likely to be repeated in other European countries as well.
Jul. 20, 2012, 8:54 AMSiemens is poised to bid €1.3B ($1.6B) to buy electricity turbines company Ansaldo Energia from Italian group Finmeccanica (FINMF.PK) and U.S. fund First Reserve, Reuters reports. Although Ansaldo is small, "Siemens will get access to those markets where it is not present," says a London-based analyst. | Comment!
Jun. 7, 2010, 8:53 AM
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