* Fitch Ratings grades Lockheed Martin’s financial status as ‘A-‘. The ratings are supported by such factors as Lockheed Martin’s competitive position in the defense sector and growth prospects for several large programs. F-35 program restructuring and related cost growth gives cause for concern.
* The Director of the Defense Security Cooperation Agency says the Defense Department is streamlining the administration of the foreign military sales program. The move comes as foreign military sales average $30 billion for each of the last three years, up almost three-fold from the 2005-2008 timeframe.
* Honeywell announces that it has signed a definitive agreement to acquire EMS Technologies, Inc., a provider of connectivity solutions for mobile networking, rugged mobile computers, and satellite communications, for approximately $491 million.
* The Ministry of Defence’s (MoD) Major Projects Review Board (MPRB) meets for the first time. The MPRB is tasked with examining the MoD’s 50 most expensive projects. The first projects examined were the £635m Watchkeeper UAV, £315m communications system Falcon and the £134m Valiant Jetty berthing project for the Astute class submarines.
* Boeing has delivered the UAE’s 2nd C-17, from its order for 6. UAE 01, delivered a month ago, has already started flying missions.
* Aviation Week reports that the USA’s proposed DDG-51 Flight III air and missile defense destroyers could be headed for difficulty, in large part due power, cooling, and weight requirements for the forthcoming AMDR radar. Can one of the AMDR contenders crack that engineering problem?
* UPI reports that the newly-formed Selex Elsag defense electronics company has launched a new modular and upgradable soldier radio system. The Frontline Soldier Radio is a fully integrated C2 module and can host both soldier system C2 and situational awareness applications. Selex Elsag says the design reduces system complexity, box and wire count and cost.
* H.I.G. Capital’s portfolio company Vaupell Holdings, Inc. acquires Russell Plastics Technology Company, Inc. a supplier of composite plastics products and assemblies serving primarily the aerospace and military markets.
* Wired’s Danger Room speculates that some of Xe Services’ – the company previously known as Blackwater – most high-profile appointments may raise a few eyebrows.