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Lockheed Martin to support AEGIS system for Japanese self defense forces

Lockheed Martin to support AEGIS system for Japanese self defense forces

Business
Dec. 18 (UPI) -- Lockheed Martin has been awarded a contract for the AEGIS weapon system by the U.S. Navy for new construction in support of Japan's Maritime Self Defense Force.The deal, announced Friday by the Department of Defense, is worth more than $ 135.8 million under the terms of a cost-plus-incentive-fee, cost-plus-fixed-fee contract.The contract calls for new construction and integration of a DDG AEGIS, which is a centralized, automated, command-and-control weapon system used to rapidly detect and track more than 100 targets at once.Work on the contract will occur in several U.S. states, as well locations in Japan, and is expected to be completed in December 2018.The terms of the deal provide cost reimbursement from the U.S. government that would aid Lockheed Martin on potential c...
Saab signs Gripen E equipment deal with Sweden

Saab signs Gripen E equipment deal with Sweden

Business
Dec. 18 (UPI) -- Saab Defense has signed a multi-million dollar contract with Sweden's Defense and Material organization for new equipment for Gripen E fighter aircraft.The contract -- a supplemental to a 2013 deal -- is worth more than $ 46.9 million and requires Saab to supply new equipment for existing and new E variants of the planes.Under the 2013 agreement for development and modernization of the Gripen, some equipment already in service was to be reused but that has now changed."Saab, FMV and the Swedish Armed Forces have agreed on the terms of the contract based on the relevant needs and deliveries," Jonas Hjelm, senior vice president and head of Saab's Aerronautics business area, said in a press release. "This joint approach is intended to secure availability so that the Swedish A...
IPPR proposes creation of ‘shared market’ for UK and EU

IPPR proposes creation of ‘shared market’ for UK and EU

Business
A think tank is proposing a post-Brexit trading deal based on the UK and the EU sharing each other's markets.It would see the UK and EU continuing the regulatory alignment that exists today, and the formation of a new customs union similar to the existing one, the centre-left IPPR said.It would allow tariff-free trade, and the UK to benefit from EU trade deals.IPPR director Tom Kibasi said it "honours the referendum result" while securing Britain's economic interests.The group said that the EU would also benefit from the scale of the UK's economy in future trade negotiations.The group believes that a new shared market model would aim to keep the benefits of single market while allowing divergence from EU rules over timeThe proposal would mean no interruption to the UK's trade with the EU a...
Wolseley owner sells stake to Thai-listed Minor

Wolseley owner sells stake to Thai-listed Minor

Business
The restaurateurs behind landmark London venues including The Wolseley and The Delaunay will this week hand control of their company to a Bangkok-listed hotelier.Sky News has learnt that a majority shareholding in Corbin & King, which was established in 2003, is being bought by Minor Hotels, which operates more than 150 sites around the world.The deal, which will be announced to the Thai stock exchange on Monday by the parent company Minor International, will be one of the most prominent to involve a portfolio of top London restaurants this year.Sources said the deal valued Corbin & King at roughly £60m and would result in Chris Corbin and Jeremy King continuing as minority investors alongside Minor.The Thai company is buying most of its stake from Graphite Capital, a private equit
Northrop Grumman producing RF threat detection system

Northrop Grumman producing RF threat detection system

Business
Dec. 15 (UPI) -- Northrop Grumman reports it is to produce its digital radar warning system and electronic warfare management system for U.S. Air Force and Navy aircrews.Production of the AN/APR-39D(V)2 comes under a $ 124.7 million award following a period of development and testing. Northrop, however, did not specify the contract's issuing authority."With the AN/APR-39D(V)2, we are bringing mature, fifth-generation digital technology to the rotary fleet," Robert Fleming, vice president for the land & avionics C4ISR division of Northrop Grumman Mission Systems, said in a press release. "With its growth path to additional capabilities, including radio frequency counter-measures and advanced self-protection, the AN/APR-39D(V)2 will help warfighters stay ahead of emerging threats."The AN...