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Tag Archives: UTX

Reports: Lockheed, DoD Reach ‘Handshake’ Deal for Lot 11 F-35s

Lockheed Martin (NYSE: LMT) and the Defense Department have reached a “handshake agreement” for the company to produce 141 F-35 fighter aircraft for the U.S. and foreign partners, Defense News reported Sunday. Ellen Lord, defense undersecretary for acquisition and sustainment, said in a statement the joint program office and Lockheed are …

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Pratt & Whitney Gets $2B Navy Contract Modification for Lot 11 F-35 Propulsion Engines

United Technologies Corp.’s (NYSE: UTX) Pratt & Whitney subsidiary has received a potential three-year, $2 billion contract modification from the U.S. Navy to produce the 11th batch of F135 engines for all three variants of the Lockheed Martin-built (NYSE: LMT) F-35 Lightning II aircraft. Pratt & Whitney said Thursday it will …

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Govini Report: Federal Investment in Space, Hypersonic Tech Hit $83B in FY 2011-2017

A Govini report says U.S. government investments in space and hypersonic technologies from fiscal years 2011 through 2017 reached approximately $83 billion and annual government spending on such platforms rose by 6 percent over the period, SpaceNews reported Sunday. United Launch Alliance ranked first in the top 15 vendors list …

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Sean Palleschi named Cubic Global Defense financial operations VP, controller; Dave Buss comments

Sean Palleschi, formerly associate finance director of aerostructures division at United Technologies Corp.’s (NYSE: UTX) aerospace systems business, has joined Cubic’s (NYSE: CUB) global defense segment as vice president of financial operations and controller. Dave Buss, president of Cubic Global Defense, said in a statement published Tuesday Palleschi’s previous experience as …

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General Atomics Announces Teammates for Navy’s Stingray Tanker Drone Requirement

A General Atomics business unit will collaborate with several other companies to compete for the U.S. Navy’s carrier-based unmanned aerial refueling tanker program. General Atomics Aeronautical Systems Inc. said Monday it will work with Boeing (NYSE: BA); BAE Systems; United Technologies Corp.‘s (NYSE: UTC) Pratt & Whitney and aerospace systems business; L3 Technologies (NYSE: LLL); Rockwell Collins …

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PwC: Global Aerospace, Defense M&A Hit $72B in 2017

A new PwC report says the value of global mergers and acquisitions in the aerospace and defense sector reached $72 billion in 2017, exceeding the previous record of $67 billion set in 2015. PwC reported that A&D companies worldwide recorded 454 M&A transactions last year with an average deal size of $411 million. Significant …

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State Dept Clears $6.53B Lockheed-Built F-35A Aircraft Sale to Belgium

The State Department has approved Belgium’s request to buy 34 Lockheed Martin-built (NYSE: LMT) F-35A conventional take-off and landing fighter aircraft from the U.S. government under a potential $6.53 billion foreign military sales agreement. Lockheed and United Technologies Corp.’s (NYSE: UTX) Pratt & Whitney subsidiary will serve as prime contractors in …

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Rockwell Collins’ Shareholders OK UTC Merger; Kelly Ortberg Comments

Shareholders at Rockwell Collins (NYSE: COL) have cleared a deal for United Technologies Corp. (NYSE: UTX) to acquire the Cedar Rapids, Iowa-based avionics contractor for approximately $30 billion. Holders of at least 72 percent of outstanding shares in Rockwell Collins as of record date voted to approve the transaction during the Thursday …

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Rockwell Collins Shareholders Set Jan. 11 Vote on UTC Deal

Rockwell Collins (NYSE: COL) is set to hold a shareholder meeting on Jan. 11 to decide on proposals associated with United Technologies Corp.’s (NYSE: UTX) proposed $30 billion acquisition of the Cedar Rapids, Iowa-based avionics contractor. Rockwell Collins said Monday shareholders of record as of Dec. 8 will be eligible to …

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Paul Eremenko to Become UTC SVP, CTO in January

Paul Eremenko, formerly chief technology officer at Airbus, will join United Technologies Corp. (NYSE: UTX) to serve as a senior vice president and CTO starting Jan. 1. He will succeed the retiring J. Michael McQuade and directly report to Greg Hayes, UTC chairman and CEO, the company said Thursday. Eremenko will …

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