Technology Groups News

General Dynamics reported third-quarter 2013 net earnings of $651 million, or $1.84 per share on a diluted basis, on revenues of $7.8 billion. This compares to 2012 third-quarter net earnings of $600 million, or $1.70 per diluted share, on revenues of $7.9 billion. Third-quarter 2013 operating earnings rose $52 million to $957 million, a 5.7% increase over the year-ago quarter. Company-wide operating margins for the third quarter of 2013 were 12.3%, 90 basis points higher than third-quarter 2012 margins, reflecting operating-performance improvement in the company’s Aerospace, Combat Systems and Information Systems and Technology groups over the year-ago period.

RSC Bio Solutions, developer of readily biodegradable lubricants and cleaners, has added Bernie Roell as vice president of technology. RSC Bio Solutions said it is aggressively addressing the needs of the biobased chemical industry for new innovative solutions for a wide range of applications. Roell will work to gain even more application approvals for company products and lead other quality, technology and application development initiatives in conjunction with the research and development department.

Kvaerner, the international engineering and construction group, announced that consents have now been secured from all creditors that are party to the debt restructuring in the group. The remaining key condition in the overall refinancing of the Kvaerner Group has thereby now been fulfilled. The other key elements in the refinancing scheme, a Directed Offering subscribed at the end of November 2001, and a Rights Offering, to be subscribed later this month, are proceeding according to plan. Formal closing of the debt restructuring and the Directed Offering are expected to take place tomorrow, and the Group’s internal cash pooling system will thereafter be fully operational.