Fred P Moosally News

Fred P. Moosally has taken office on February 8th, 2010 as President and Chief Executive Officer of Fincantieri Marine Group (FMG), a subsidiary of Fincantieri-Cantieri Navali Italiani S.p.A. Moosally, who will report directly to Alberto Maestrini, Fincantieri Executive Senior Vice President of Naval Vessels Business Unit, will be responsible for all Fincantieri Naval Vessels Business Unit activities in the United States. His headquarters will be located in the Washington, D.C. area.

The Coast Guard Foundation, a non-profit organization committed to the education, welfare and morale of all Coast Guard members and their families, announced that it has recognized Lockheed Martin Corporation as its largest corporate donor. Honored for lifetime gifts exceeding $2m, the Foundation presented the award to Fred P. Moosally, Coast Guard Foundation trustee and president of Lockheed Martin’s Maritime Systems and Sensors (MS2) business unit, at the company’s Washington, D.C. offices. Lockheed Martin’s support is used by the Foundation to fund important projects and programs that seek to improve the lives and performance of Coast Guard members, their families and Coast Guard Academy cadets, including college scholarships for children, as well as grants for enlisted members.

Fincantieri - Cantieri Navali Italiani S.p.A., a leader in the commercial and naval shipbuilding industry, signed a definitive acquisition agreement to acquire the Manitowoc Marine Group (MMG), from its parent company, The Manitowoc Company, Inc. [NYSE: MTW]. Lockheed Martin Corporation [NYSE: LMT] has agreed to be a minority investor with Fincantieri in the proposed acquisition. The transaction, that is valued at approx. $120m (subject to certain closing adjustments), is an all-cash deal that is anticipated to close at the end of 2008. The Boards of Directors of Fincantieri and have approved the terms of the agreement. The transaction is subject to customary closing conditions, including clearance from the antitrust authorities.

Lockheed Martin marked the completion of the first Aegis Integrated Weapon System (IWS) with the SPY-1F radar for the Royal Norwegian Navy today with a pull- the-plug ceremony at its Moorestown facility. The system will be packed and shipped to Spanish shipbuilder IZAR for installation on the Fridtjof Nansen, the first ship of the F310 Norwegian frigate program, now under construction in Ferrol, Spain. The system, which includes Lockheed Martin's SPY-1F radar, successfully completed a full range of acceptance tests during the past several months to verify system performance. Today's pull-the-plug ceremony marks the completion of testing and symbolizes the system is ready for shipboard installation.

During a celebration to commemorate the delivery of the first Deepwater surface asset under the Integrated Deepwater System, the Coast Guard Commandant Adm. Thomas H. Collins accepted delivery of the vessel and returned the CG Ensign to the USCG Cutter Matagorda today, Friday, March 5, 2004, at Bollinger Shipyards, in Lockport, La. The ceremony celebrated the delivery, which officially occurred on Monday, March 1, of the first newly completed 123-ft. patrol boat, USCGC Matagorda, manufactured by HBJV, a joint venture of Bollinger Shipyards LLC and VT Halter Marine, Inc of Gulfport, Miss.

In a move it describes to strengthen its competitive advantage in design and integration of combat systems and sensors for maritime and related markets, Lockheed Martin is further integrating its naval electronics and surveillance systems units into a single business enterprise called Maritime Systems & Sensors (MS2). This restructured company, with more than 11,000 employees, has significant operations in Akron, Ohio; Archbald, Pa.; Baltimore, Md.; Eagan, Minn.; Manassas, Va.; Syracuse, N.Y.; Moorestown, N.J.; Clearwater and Riviera Beach, Fla., as well as satellite operations in more than 70 locations, including 22 overseas. "Our objective is straightforward.