Navy Awards Design Contracts for UCLASS Carrier Development
The Navy has awarded four Preliminary Design Review (PDR) contracts for the Unmanned Carrier Launched Airborne Surveillance and Strike (UCLASS) air vehicle segment. UCLASS will be the first deployed carrier-based unmanned air system. It will provide persistent, unmanned, semi-autonomous, carrier-based Intelligence, Surveillance, Reconnaissance and Targeting (ISR &T) with precision strike capability to support 24/7 carrier operational coverage. The four $15 million firm-fixed price contracts were awarded to Boeing Co., General Atomics Aeronautical Systems, Inc., Lockheed Martin Corp.
Northrop Grumman To Acquire TRW for $60 per Share in Stock
Northrop Grumman Corporation and TRW Inc. jointly announced that they have entered into a definitive merger agreement. The combination will position Northrop Grumman as the nation's second largest defense contractor with projected annual revenues of more than $26 billion and approximately 123,000 employees. Following the separation of TRW's automotive business and completion of the sale of TRW's Aeronautical Systems business, Northrop Grumman will be a Fortune 100 company. Under the terms of the agreement, unanimously approved by the boards of directors of both companies, Northrop Grumman will acquire TRW for $60 per share in common stock in a transaction valued at approximately $7.8 billion, plus the assumption of TRW's net debt at the time of closing.
Lockheed Martin Gets $13M Contract
Lockheed Martin Corp., Lockheed Martin Aeronautical Systems of Marietta, Georgia is being awarded a contract modification for $13m. This contract modification is an undefinitized contract action for the procurement of Peculiar Spares and Support Equipment in support of the Norwegian foreign military sales program pursuant to Letter of offer and Acceptance (LOA). At this time $6m has been obligated. AFMC/ASC, Wright-Patterson Air Force Base, Ohio, is the contracting activity.
