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Tag Archives: DRS Technologies

Financial Times: Finmeccanica Halts DRS Sale Plan

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Finmeccanica no longer plans to sell its DRS Technologies subsidiary as the Italian defense and industrial conglomerate holds a positive outlook in the defense sector for the rest of this year, Financial Times reported Sunday. Peggy Hollinger writes Finmeccanica also is not searching for a U.S. partner to purchase a stake in DRS but ...

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Navy Chooses DRS Secure Voice System for Aegis Ships

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TYSONS CORNER, VA April 20, 2015 — Executive Mosaic — ExecutiveBiz reported Friday on DRS Technologies receiving a $55 million contract to install integrated voice communications systems on the U.S. Navy’s fleet of Aegis cruisers and destroyers. DRS said Wednesday the contract provides the company with the opportunity to upgrade ...

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General Dynamics Selects DRS Surveillance System for Canadian LAV 6.0

LAV UP 6.0

TYSONS CORNER, VA April 17, 2015 — Executive Mosaic — ExecutiveBiz reported Thursday on General Dynamics (NYSE: GD) picking DRS Technologies’ (NYSE: DRS) surveillance system for installation on the Canadian army’s light armored vehicles. DRS said Tuesday the eight-year contract worth $100 million includes mast-mount long-range surveillance suites, operator control stations and program engineering support ...

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DRS to Develop, Integrate Electronic Parts into US Navy Submarines; Roger Sexauer Comments

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DRS Technologies (NYSE: DRS) has been awarded a more than $384 million contract to develop and integrate electronic equipment into the U.S. Navy’s various submarines in a move to modernize the combat control and sonar systems. The company will produce display, processor and network parts for installation in the SSN 688i, ...

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Engility Co-Chair Peter Marino Joins Vistronix Board; John Hassoun Comments

Vistronix

Peter Marino, co-chairman of the board of directors at Engility (NYSE: EGL), has been appointed to the board of directors at Vistronix Intelligence & Technology Solutions. “His insight will help us leverage our cyber and big data analytics capabilities as we expand further in the national intelligence community,” John Hassoun, Vistronix president and ...

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DRS Lands Potential $440M in Navy Submarine Electronic, Comm Tech IDIQs

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DRS Technologies will build new electronic equipment and update voice communications systems on U.S. Navy vessels under two contracts worth up to $440 million combined. The Finmeccanica subsidiary said Wednesday one of those indefinite-delivery/indefinite-quantity contracts it signed with the Navy will move the company into a prime contractor role with the service ...

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Reuters: Finmeccanica Taps US Investment Bank to Help Offer DRS Pieces for Sale

Eagle-Vision

U.S. investment bank Jefferies Group LLC will send out invitations next week in an effort to seek out potential offers for selected business units of U.S. defense contractor DRS Technologies, Reuters reported Tuesday. Pamela Barbaglia and Mike Stone report that Italian conglomerate Finmeccanica, DRS’ owners, have identified its aviation and logistics ...

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Report: Finmeccanica Plans Sale of $224M in DRS Assets

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Finmeccanica is looking to divest approximately $224 million worth of assets in DRS Technologies this year, Defense News reported Tuesday. Tom Kington writes Finmeccanica announced the divestment plan as the Italian conglomerate unveiled a revised earnings guidance and an industrial strategic plan. Last summer, Mauro Moretti, Finmeccanica CEO, said he ...

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Navy Adds CGI, DRS Units to Consolidated Shipboard Networks Contract

U.S. Navy photo

The U.S. Navy has awarded CGI (NYSE: GIB) and DRS Technologies business segments positions on an eight-year, $2.5 billion contract to provide production units of the Consolidated Afloat Networks and Enterprise Services system. The Defense Department said Thursday that CGI Federal and DRS Laurel Technologies can compete for task orders under the indefinite-delivery/indefinite-quantity contract alongside ...

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Jim Scott Named DRS Aviation, Comms & HS Group President

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Jim Scott, a 10-year veteran of DRS Technologies, has been appointed to lead the company’s aviation, communications and homeland security business unit as president. He most recently held the vice president and general manager roles within the global enterprise solutions group and has led support work for several U.S. military ...

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