Armor Holdings/BAE Systems Merger Complex on Multiple Levels• May. 15, 2007
BAE Systems plc - Analyst/Investor DayMar. 7, 2012
Mon, Oct. 6, 10:04 AM
- BAE Systems (OTCPK:BAESY +0.7%) has received a $153.6M contract from the U.S. Army to convert 53 M88A1 recovery vehicles to the M88A2 Heavy Equipment Recovery Combat Utility Lift Evacuation System (HERCULES) configuration.
- The contract continues the U.S. Army’s program to pure-fleet its M88s to the HERCULES variant. To date, BAE Systems has converted nearly 650 U.S. Army M88 vehicles.
Fri, Sep. 19, 8:10 AM
- Lockheed Martin (NYSE:LMT) is narrowing in on a ~$4B deal with the Department of Defense for 43 more F-35 fighter jets that will lower the cost of the jet's airframe by 2-4%.
- The government buys the jets' engines separately from Pratt & Whitney, which said this week that contracts for the seventh and eighth batches of its F135 engines will result in prices 7.5%-8% cheaper than the firm's last purchase.
- Other initiatives are also being worked on to lower the plane's costs, including changes in manufacturing and "block buys" by some foreign countries with pending orders.
- Lockheed is also investing $170M in cost-cutting measures with suppliers BAE Systems (OTCPK:BAESY) and Northrop Grumman (NYSE:NOC) to generate combined savings of $1.8B.
Fri, Sep. 5, 7:59 AM
- Canada is likely to choose between two U.S. firms when it buys a new fleet of fighters jets, says Reuters quoting a source.
- The source related that Lockheed Martin's (NYSE:LMT) F-35 and Boeing's (NYSE:BA) F-18 E/F Super Hornet were deemed more suitable for the tasks the military has laid out.
- If so, the choice would result in the widely expected elimination of Dassault Aviation's (OTC:DUAVF) Rafale and the Eurofighter Typhoon, jointly made by BAE Systems (OTCPK:BAESY), Finmeccanica (OTCPK:FINMY) and Airbus (OTCPK:EADSY).
Tue, Aug. 12, 7:07 AM| Comment!
Mon, Aug. 11, 10:49 AM
- BAE Systems (OTCPK:BAESY +0.9%) has announced an agreement for the proposed sale of its 75% stake in Land Systems South Africa (LSSA) to Denel.
- "This proposed divestiture will further focus our portfolio on our core capabilities and strong franchise positions in tracked, combat and amphibious vehicles and weapon systems,” says BAE Systems President Erwin Bieber.
- LSSA is jointly owned by BAE Systems (75%) and DGD Technologies (25%) and will be sold for 855M Rand.
Mon, Aug. 4, 5:56 AM
- Mitsubishi Heavy Industries' (OTCPK:MHVYF) involvement in the $400B F-35 project could be delayed as concerns have surfaced over the subsidies which back the program, Reuters reports.
- Arms industry bureaucrats who seek subsidies to back Japan's stake in the project are in a squabble with the finance ministry which wishes to curb spending due to Japan's massive budget deficit.
- Japan also wishes to participate in the F-35 project as a sign of the nation's willingness to end decades of isolation, after a four-decade-old ban on selling arms overseas was recently lifted.
- The worries could force Japan's biggest arms maker to renegotiate the deal with Britain's BAE Systems (OTCPK:BAESY) for supplying F-35 rear fuselage parts under an international consortium.
- BAE, Lockheed Martin (NYSE:LMT) and other members of the nine-nation group welcome Japan's F-35 participation, but not if it means relenting on tight production costs.
Tue, Jul. 15, 9:34 AM| 1 Comment
Thu, Jul. 10, 9:03 AM
- Lockheed Martin (LMT) states industry investment of $170M over the next two years will result in $1.8B in savings for the F-35 Joint Strike Fighter program, cutting the cost of each fighter jet by about $10M to about $80M.
- The announcement comes after the Pentagon's release of the "Blueprint for Affordability" project, stating that Lockheed and two main subcontractors, Northrop Grumman (NOC) and BAE Systems (BAESY), will only recover their investment and any profit if cost reductions to the jet were made.
- There is still no word if the F-35 will be making its debut at two international air shows tomorrow and next week in the U.K.
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.
Tue, Jan. 14, 2:24 AM
- House and Senate negotiators have agreed on how to allocate $1.01T in funding through Sept. 30 following Congressional approval of the budget guidelines in December.
- The 1,582-page deal eases some automatic spending reductions by providing an additional $45B for military and domestic discretionary programs. Non-war spending will be $520.5B, with the armed force being able to avoid $22B in cuts.
- The conflict in Afghanistan will receive $85.2B.
- However, there's no increase in funding for Obamacare, while $63B in financing for the IMF was again delayed.
- The bill prohibits the Postal Service from eliminating mail delivery on Saturday or shutting rural post offices.
- GOP and Democrat leaders are confident that the bill will pass the House and the Senate.
- Defense tickers: BA, LMT, GD, NOC, HON, BAESY, RTN, COL, HRS
Oct. 6, 2013, 1:35 AM
- United Technologies (UTX) unit Sikorsky Aircraft has canceled plans to furlough almost 2,000 staff after Defense Secretary Chuck Hagel said that he is ordering most of the Pentagon's 400,000 civilian employees to return to work.
- United Tech had also said it would have to keep staff at its Pratt & Whitney and Aerospace Systems businesses at home if the government shutdown were to drag on this next week.
- Lockheed Martin (LMT), which intends to furlough 3,000 staffers on Monday, hasn't yet decided whether to reduce or drop those plans.
- Other companies affected by the return of Pentagon workers include BA, GD, NOC, AVAV, KTOS, HON, TXT, EADSF.PK and BAESF.PK.
Sep. 18, 2013, 4:56 AM
- Lockheed Martin (LMT), BAE Systems (BAESF.PK), Northrop Grumman (NOC) and engine builder Pratt & Whitney (UTX) have agreed to huge cuts in the average cost of the F35 Joint Strike Fighter jet by 2019.
- The head of the program, Lt. Gen. Chris Bogdan, is confident that despite concerns about the plane's software and defective parts, it is on track to enter service in 2015.
- As expected, Holland said yesterday that it will buy 37 F35s and it provided a small indication that Belgium could evaluate the planes as well.
Sep. 10, 2013, 5:43 PM
- Ballard Power (BLDP) and its consortium partners have received approximately $6.7M in funding from the U.S. Federal Transit Administration under the National Fuel Cell Bus Program to deploy two next-generation fuel cell buses, as well as for the extended operation of two existing Ballard-powered buses.
- BLDP will deliver its next-generation fuel cell power module - the FCvelocity-HD7 - to BAE Systems (BAESY.PK) for incorporation into its HybriDrive propulsion systeml.
- Two FCvelocity-HD7 power modules will be assembled in America and are expected to be delivered in 2014 in support of deployments with the Greater Cleveland Regional Transit Authority in Ohio and with Tompkins Consolidated Transit Authority in Ithaca, New York.
- The same bus platform is currently in operation with SunLine Transit Agency in Thousand Palms, California.
Aug. 1, 2013, 11:07 AM
- BAE Systems (BAESY.PK) says it's won a $535M long-term contract to maintain part of the U.S. nuclear missile arsenal.
- The firm will maintain silo bases that hold intercontinental ballistic missiles designed to deliver nuclear warheads and other support functions.
- The contract expires after 8.5 years.
Jul. 19, 2013, 3:30 PM
Jul. 9, 2013, 7:00 AMRaytheon (RTN) has won a $279M 22-month deal from the navy to develop a radar jamming device to be used on Boeing EA-18G Growler combat aircraft. Raytheon beat out incumbent Northrop Grumman (NOC) and others for a contract that analysts reckon could eventually be worth billions of dollars. The development period will be followed by an engineering and manufacturing phase of 4 1/2 years, with the jammer slated for deployment in FY 2020. | Comment!
BAESY vs. ETF Alternatives
BAE Systems is a global defense, aerospace and security company with approximately 88,200 employees worldwide. The Group delivers a wide range of products and services for air, land, and naval forces, as well as advanced electronics,security, information technology solutions and support services.
Other News & PR