HONEYWELL INC., Clearwater, Fla., has won a $5.4 million increase to an earlier U.S. Air Force contract for 75 Embedded Global Positioning System/Inertial Navigation System (EGI) units and related equipment for the A-10A aircraft. The contract was awarded by the AF's Aeronautical Systems Center.
KAYNAR TECHNOLOGIES INC., Orange, Calif., a maker of specialty fasteners, fastening systems and related components, made an initial public offering of 2,000,000 shares of its common stock at $14.50 per share.
Russian subcontractors on the International Space Station have started receiving the long-awaited funds they need to complete the critical Station Service Module, NASA Administrator Daniel S. Goldin said as Station partners gathered in Florida to decide on a role for the cash-strapped Russians. Meanwhile, NASA's inspector general is "examining allegations" passed along by the chairman of the House Science Committee that U.S. payments for astronaut training in Russia may have been diverted to build luxury houses for training center officials.
POWER SPECTRA INC., Sunnyvale, Calif., sold 4.3 million shares of restricted common stock through a private placement with net proceeds of $1 million. The money will be used for interim working capital, and the company is in discussions with a third party to secure more long-term financing.
Sales for Rada Electronics Industries Ltd., Herzliya, Pituach, Israel, grew 12% to $28.1 million during the 1996 fiscal year due to increases in Smart CATS revenues. Rada earned $1.1 million from continuing operations in 1996, up from earnings of $209,000 in 1995. The company received a $2.9 million boost to profits from the disposal of discontinued operations in 1995.
LUCASVARITY AEROSPACE, Utica, N.Y., won a contract from Bell Helicopter Textron for couplings for the V-22 Osprey in the program's low rate initial production phase.
Profits at Cubic Corp., San Diego, remained flat as the company goes through "a transitional year" in 1997. Profits increased less than $200,000 to $2.7 million, as sales fell from $110.9 million in 1996 to $96.2 million this year. The revenue drop was primarily caused by the sale of the company's toll road equipment business last year. Cubic plans to repurchase up to 500,000 shares of its own stock. The company has already spent $33.7 million to buy back 2.9 million shares.
Lockheed Martin Services Group, Cherry Hill, N.J., is being awarded an $18,641,289 one year cost-plus-fixed-fee, indefinite-quantity/indefinite- delivery contract for Integrated Ship Defense engineering, technical and logistics services for the Port Hueneme Division Naval Surface Warfare Center, Port Hueneme, Calif. This contract includes options which, if exercised, would bring the cumulative value of this contract to $90,342,697. Work will be performed in Port Hueneme, Calif. (30%); Norfolk, Va. (30%); San Diego, Calif. (30%); Bremerton, Wash. (4%); Pascagoula, Miss.
New instruments and hardware installed on the Hubble Space Telescope have checked out well, with the exception of a focusing problem on one camera, and scientists have been able to achieve important scientific results even as hardware checkout continues.
Fighters of Japan's Air Self-Defense Force scrambled against unknown aircraft 234 times in fiscal 1996 (April 1996-March 1997), compared to only 166 in the previous fiscal year. It was the first increase since 1989. Before 1988, interceptors flew 800-900 sorties per year, but the number had decreased steadily since then.
GRC Inc., Vienna, Va., is being awarded a cost plus fixed fee contract with a cumulative total of $22,255,361 for technical support services for the Office of the Secretary of Defense (Policy Analysis&Evaluation), for Joint Warfare System (JWARS) development. Work will be performed in the Pentagon, Washington, D.C., and is expected to be completed by April 30, 2002. Contract funds will not expire at the end of the current fiscal year. There were 48 bids solicited on Sept. 27, 1996, and three bids were received.
WILCOX ELECTRIC INC., Kansas City, Mo., won a contract from ARAMCO Aviation, Dhahran, Saudi Arabia, for Special Category I (SCAT-1) Differential Global Positioning System (GPS) ground equipment, the DGLS 2000, and services.
COMPUTERVISION CORP., Bedford, Mass., won a $1.1 million contract for Electronic Product Definition (EPD) software and services from Russia's Tupolev Aviation Co. Tupolev will use concurrent engineering for new product development with Computervision's design animation and data management technology and services, the company said. It said its products will be used to help the Russian company reduce the time it takes to get a product to market and to improve quality.
BOMBARDIER REGIONAL AIRCRAFT, Toronto, delivered two de Havilland Dash 8Q Series 200B combination passenger/freight aircraft to Transportes Areos Regulares S.A. (TAVAJ), Rio Branco, Brazil. TAVAJ has also ordered two more aircraft for delivery later this year.
ADMINISTRATION AND CONGRESSIONAL negotiators have raised the fiscal 1998 national security budget authority (BA) ceiling $800 million over the earlier agreement to $269 billion, congressional sources said yesterday. The agreement reached on May 2 provided $268.2 in BA and $263 billion in outlays. Although this was thought to be the last word, there apparently was disagreement over what was agreed on. The new agreement, largely negotiated over the weekend, would raise the outlay ceiling to $263.8 billion, sources said.
Though the current procurement plan for the F/A-18E/F strike fighter contains a higher percentage of more expensive two-seat aircraft than planned and the maximum annual production rate has shrunk, the flyaway cost of the aircraft has decreased from the previous estimate, Under Secretary of Defense and Acquisition and Technology Paul Kaminksi tells Senate Appropriations Committee Chairman Ted Stevens (R-Alaska).
Bath Iron Works Corp. (BIW), Bath, Maine, and Ingalls Shipbuilding, Inc. (ISI), Pascagoula, Miss., are each being awarded a $164,700,000 not-to- exceed (NTE) letter contract for combined acquisition of Advance Procurement (AP) Economic Order Quantity (EOQ) equipment in support of the anticipated fiscal year (FY) 98 through FY 01 twelve ship multiyear procurement for DDG 51 Class AEGIS Destroyers, DDG 89 through DDG 100. Work will be performed in Bath, Maine, and Pascagoula, Miss. Work is expected to be completed by the end of December 2005.
DRS PHOTONICS INC., Hauppauge, N.Y., has won a $4.3 million contract from the U.S. Army's Aviation and Troop Command for Multiple Platform Boresight Equipment for use with AH-1F Cobra helicopters. DRS Photonics, a subsidiary of DRS Inc., said the boresight device aligns an aircraft's navigation, targeting and weapon systems with the pilot's sighting gear.
NORTHROP GRUMMAN CORP., Cleveland, won a $6 million contract from Serco Ltd., U.K., for self-propelled acoustic targets (SPAT) for the Royal Navy. The contract is for three autonomous mobile underwater targets, operational support equipment and spares. Work will be performed at the company's Anti- Submarine Warfare (ASW) and Ship Systems business unit.
LUXELL TECHNOLOGIES INC., Mississauga, Ontario, Canada, won a $3.2 million contract from Lockheed Martin Tactical Defense Systems to complete the development and begin production of a data entry panel for avionics applications. The panel initially will be used by the U.S. Navy for the P- 3C Anti-Surface Warfare Improvement Program (AIP).
CACI Inc. Federal, Arlington, Va., is being awarded a cost plus fixed fee contract with a cumulative total of $18,922,749 for technical support services for the Office of the Secretary of Defense (Policy Analysis&Evaluation), for Joint Warfare System (JWARS) development. Work will be performed in the Pentagon, Washington, D.C., and is expected to be completed by April 30, 2002. Contract funds will not expire at the end of the current fiscal year. There were 48 bids solicited on Sept. 27, 1996, and three bids were received.
Northrop Grumman Corp., Bethpage, N.Y., is being awarded an $87,248,253 modification to previously awarded contract N00019-96-C-0049 to provide additional funding for four FY97 E-2C aircraft. Work will be performed in St. Augustine, Fla. (75%); Bethpage, N.Y. (24%); and Milledgeville, Ga. (1%), and is expected to be completed by November 1999. Contract funds would not have expired at the end of the current fiscal year. The Naval Air Systems Command, Arlington, Va., is the contracting activity.
Faced with a shortfall of attrition reserve aircraft in its fleet of A-10 and OA-10 close support jets, the U.S. Air Force is solving the problem by taking planes out of the active force. The service has been aware of attrition reserve shortage for some time, but hadn't voiced a solution. Similar situations in the F-15 and F-16 fighter fleets are being addressed by buying more aircraft, but the A/OA-10 has been out of production for some years.
Telos Systems Integration, Ashburn, Va., is being awarded a $7,751,520 firm-fixed-price contract for Advanced Tomahawk Weapon Control System (ATWCS) Hardware components for the Track Control Group (TCG) Production and Launch Control Group (LCG) LRIP requirements. This contract includes options which, if exercised, would bring the cumulative value of this contract to $15,492,368. Work will be performed in Ashburn, Va., and is expected to be completed by December 1999. Contract funds will not expire at the end of the current fiscal year.
