Rapid Fire: Evening 2011-06-13 | MoD’s Major Projects Review Board

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* 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 […]

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