Rapid Fire 2011-05-16: Goodrich Buys Microtecnica

• Turkey’s current account deficit is hitting levels that worry some observers. High levels have been predictors of economic crises in the past. If that comes to pass, there are a lot of new and pending weapons programs that would be affected.

• Turkey’s next-generation fighters are among them. There are reports of growing interest in a split-buy, to reduce dependence on the USA. Italy’s government is pushing Turkey to solve that problem by joining the Eurofighter consortium. Turkey might also pick a hi-low approach, and join existing arms partners South Korea and Indonesia in KF-X.

• BAE Systems snags 10-year, $850 million contract to manage the US Army’s Radford ammunition plant in southwest Virginia; stock of incumbent ATK takes a hit.

• In the money: EADS posts a net loss of EUR 12 million, on revenues of EUR 9.9 billion, as a result of negative dollar accounting revaluation; however, net cash reserves reach record EUR 12.2 billion (~17.2B USD).

• Russian Space Forces plans to test a new Voronezh DM radar being built near Baltic port of Kaliningrad by end of 2011, one of four radars being built to fill radar coverage gaps created by the collapse of the Soviet Union.

• Goodrich completes EUR 331 million for Microtecnica, a Turin, Italy-based provider of flight control actuation systems for helicopters, aircraft, missile actuation, and aircraft thermal and environmental control systems for military and commercial customers.

• Azerbaijan extends joint production agreement with South Africa’s Paramount Group to produce an additional 30 Marauder [PDF] and 30 Matador [PDF] mine-protected vehicles, with deliveries running through late 2012.

• Raytheon & Boeing finish government testing of their JAGM light strike missile contender, and keep their perfect test record.

• Good news: 1st A109 light helicopter from the May 2008 contract enters service in New Zealand. Bad news: They’re still waiting for the NH90-TTH medium helicopters from their July 2006 contract.

• Northrop Grumman is cutting 200 jobs at its Electronics Systems division, mostly in the Baltimore area.

• Terrorists have procurement networks, too – most of which also have criminal uses. Read FP Magazine’s slanted but still enlightening “Tunnelnomics” piece re: the Israeli/Gaza border.