Tag Archives: rtn

Report: BAE to Build $139M Defense Aerospace Facility in Iowa

BAE Systems

BAE Systems plans to develop a $139M classified facility in Cedar Rapids, Iowa, and create 650 jobs in the city, The Gazette reported Friday. Construction work on the proposed 200K-square-foot defense aerospace facility is expected to kick off by October and conclude by September 2022. Ryan Companies US will serve as the project’s developer.

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UTC-Raytheon Merger Deal Set to Close Friday; Thomas Kennedy, Greg Hayes Quoted

United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) have set the closure date of their all-stock merger for Friday, April 3, after securing all the regulatory clearances needed to close the transaction. According to a joint statement, the combined company will operate as Raytheon Technologies and trade under the “RTX” ticker symbol on the New York Stock Exchange.

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Proposed UTC-Raytheon Merger Gets DOJ Antitrust Clearance With Divestiture Requirement

proposed-utc-raytheon-merger-gets-doj-antitrust-clearance-with-divestiture-requirement

The Department of Justice has given United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) an antitrust approval to proceed with their proposed merger through an all-stock transaction, Reuters reported Friday. A DOJ notice posted Thursday says the approval comes with a proposed settlement that requires both companies to divest to a U.S. approved-buyer Raytheon’s airborne tactical radios business and UTC’s military GPS business and its large space-based optical systems unit to maintain competition.

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Report: Lockheed Advances in Army’s Precision Strike Missile Competition

report-lockheed-advances-in-armys-precision-strike-missile-competition

Lockheed Martin (NYSE: LMT) emerged as the final contender for the U.S. Army’s Precision Strike Missile prototyping competition, Jane’s 360 reported Tuesday. The PrSM program seeks to develop a precision-strike, surface-to-surface guided missile to replace the Army Tactical Missile System and that can be fired from the M142 High Mobility Artillery Rocket System and M270A1 Multiple Launch Rocket System to neutralize targets at ranges of up to 499 kilometers.

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UTC Board OKs Carrier, Otis Spinoffs; Greg Hayes Quoted

utc-board-oks-carrier-otis-spinoffs-greg-hayes-quoted

The board of directors of United Technologies Corp. (NYSE: UTX) approved the spinoffs of its Carrier and Otis subsidiaries into two independent companies and expects to complete the separations on April 3. "Executing the separations of Carrier and Otis is also a major milestone to completing the merger of UTC's aerospace businesses with Raytheon to create Raytheon Technologies,” Greg Hayes, chairman and CEO of UTC, said in a statement published Wedneday.

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Bruce Jette: Original Competitors Plan to Submit Bid for Restructured OMFV Combat Vehicle Program

Bruce Jette, acquisition executive at the U.S. Army and a 2020 Wash100 award winner, said companies that previously submitted bids for the Optionally Manned Fighting Vehicle program have expressed plans to compete again after the service restructured the acquisition strategy for the OMFV competition, Inside Defense reported Thursday.

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