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Electronics Giant News

29 Sep 2016

Australia Names Lockheed Martin as Weapons System Provider for Submarines

Photo courtesy of DCNS

Australia has selected U.S. defence company Lockheed Martin Corp as its preferred bidder to supply the combat system for its new $38 billion fleet of submarines, the country's defence industry minister said on Friday. Lockheed Martin beat out competition from U.S. rival Raytheon Co, which built the system for Australia's existing Collins-class submarines. Australia chose French naval contractor DCNS Group in April to build 12 new submarines in a deal worth A$50 billion ($38 billion) - one of the world's most lucrative defence contacts.

26 Apr 2016

France sinks Japanese, German Sub Bids

Fleet of 12 submarines to be built in South Australia; decision has political implications at home, abroad. France has beaten Japan and Germany to win a A$50 billion ($40 billion) deal to build a fleet of 12 submarines for Australia, one of the world's most lucrative defence contracts, Australian Prime Minister Malcolm Turnbull announced on Tuesday. The victory for state-owned naval contractor DCNS Group underscored France's strengths in developing a compelling military-industrial bid, and is a blow for Japanese Prime Minister Shinzo Abe's push to develop defence export capabilities as part of a more muscular security agenda. Reuters earlier reported that DCNS would be announced as the winner, citing sources with knowledge of the process.

07 Sep 2010

Navico’s Simrad Agreement with Consilium

Marine electronics giant Navico has entered into a cooperative partnership with marine safety and navigation specialist Consilium through its Simrad brand with the intent to offer new products for the world’s commercial vessel fleet. Through their strategic and technological alliance, the two companies first aim to significantly change the comprehension of short range radar target detection and processing. The goal is to introduce radar systems for use on SOLAS vessels with a strong focus on piracy attack detection and for other workboats that have much use for this new technology.

12 Jul 1999

Litton Shelves $1.8B Bid For Newport

Defense and electronics giant Litton Industries Inc. reportedly withdrew its $1.8 billion offer to buy Newport News Shipbuilding Inc. because of opposition from the U.S. government.

18 May 2007

Seoul Shares Close at New High on Shipbuilding

South Korean stocks hit a fresh closing high Thursday as investors picked up shipbuilding and machinery shares, taking a cue from overnight gains in U.S. markets, analysts said. The South Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.98 points, or 0.94 percent, to 1,615.58. Volume was moderate at 445.7 million shares worth 4.67 trillion won (US$5.03 billion), with winners outpacing losers 544 to 226. Shipbuilders led the gain with top shipyard Hyundai Heavy Industries rising 6.53 percent to 285,500 won. Steel shares gained ground. No. 2 steelmaker Hyundai Steel advanced 2.45 percent to 48,150 won after a local brokerage raised its price estimate for the shares. Tech blue chips traded in negative territory.