Defense Contract

Surveillance Austrailia Wins Defense Contract

South Australian-based company, Surveillance Australia, has been named as the tenderer for a billion dollar defense contract. If it wins the deal, the company will be responsible for Australian coastal patrols, as part of the federal coastal maritime surveillance program.

Coast Guard Extends Deepwater Contract

According to reports, the Coast Guard extended the contract for the troubled multibillion-dollar modernization program with Lockheed Martin Corp. and Northrop Grumman Corp. Despite internal and congressional scrutiny of the 25-year, $24b program dubbed Deepwater, the 43-month extension with the defense contracting joint venture, Integrated Coast Guard Systems, was expected. But the deal does not guarantee the award of any future task orders to ICGS and the value of the contract will be

U.S. Sues Shipbuilder For Alleged Overcharges

The United States has filed suit against Newport News Shipbuilding Inc. alleging that the company knowingly mischarged the U.S. Navy on costs it incurred for work under commercial contracts from 1994 to 1999, the Justice Department announced today. The lawsuit alleges that the Newport News, Virginia-based company charged the Navy for independent research and development (IR&D) costs for double-hulled tankers that Newport News was building for commercial customers under existing contracts

OSI Provides Update on Acquisition

Offshore Systems International Ltd. is progressing with the due diligence process to acquire a United States defense contracting company, and is well underway in negotiating definitive agreements for the transaction. OSI first announced a non-binding letter of intent to purchase the target company on July 11, 2005. "The process is going very well," said President and CEO John Jacobson. "Although it is taking longer than initially anticipated, discussions have

Israel Gets Nuclear Missile-capable Submarine

In Kiel, a German-made submarine, capable of launching nuclear weapons, has been handed over to the Israel Defence Forces An official ceremony to hand over to Israel a Dolphin-class submarine, which can carry nuclear weapons, took place in the German city of Kiel, according to Rianovosti. The German-made submarine, named Tanin ("alligator" in Hebrew), is due to enter service in 2013, when all tests are completed.

Imtech Wins Defense Contract

Internatio-Mueller NV said its technology unit Imtech had won an order worth $35 million from British shipbuilder Swan Hunter. Imtech will provide technical systems for the first two of four amphibious transport ships which Swan Hunter, privately owned by Dutch millionaire Jaap Kroese, will build for the British Ministry of Defense. Negotiations are still taking place about similar orders for the two other vessels, Internatio said

$475M Ferry Deal Eagerly Awaited

British Prime Minister Tony Blair said his government will take the needs of domestic shipbuilders into account when it awards a $475.1 million contract for naval ferries. "It is important we take this decision not just on best commercial grounds, but... the best grounds and interests of the shipbuilding industry in this country," he told parliament. But Blair, facing pressure from shipbuilders and oil industry workers fighting to stop the contract going abroad

OSI to Acquire Technology Supplier

Offshore Systems International has entered into a formal agreement to acquire a United States-based defense contracting company. The purchase price will be $9 million, of which approximately $8.1 million will be paid in cash, with the balance to be paid by the issuance of 1,067,975 OSI common shares. OSI first announced a non-binding letter of intent to acquire the target company on July 11, 2005. The target company reported revenues of approximately $12 million

FDGM Awarded U.S. Navy DVD Contract For Mine Warfare Fleet

FDGM, the Northern Virginia subsidiary of Italian engine manufacturer Isotta Fraschini, has been awarded a U.S. Department of Defense contract to supply spare parts items for the non-magnetic diesel engines in the U.S. Navy mine sweeper fleet. Managed by Defense Supply Center in Columbus, Ohio, the contract also includes spare parts items for Defense Logistics Agencies in Richmond and Philadelphia, as well as the Navy Inventory Control Point (NAVICP) in Mechanicsburg, PA

Iridium Satellite Predicts Constellation Life Span to Extend Through Mid-2010

Iridium Satellite LLC announced that it predicts its constellation of satellites will retain mission functionality into the next decade, based on internal analyses of satellite and operational data, as well as an external study by an independent company. Iridium contracted with The Aerospace Corporation of El Segundo, Calif., to conduct the study, based on several years of actual on-orbit reliability data provided by Iridium