Russia's TM-29 Soyuz spacecraft yesterday delivered a Russian, a French and a Slovak cosmonaut to the Mir space station in what could be the last visit to the 13-year-old station, unless its managers find a wealthy outside investor within a few months. TM-29, built by Energia Rocket and Space Corp., was launched Feb. 20 from the Baikonur Cosmodrome at 7:18 p.m. Moscow time (04:18 UTC) by a Soyuz-U rocket. It docked 49 hours later.
Moody's Investor Service confirmed the long- and short-term debt ratings of Eaton Corp. following its review for possible downgrade after Eaton's announcement last week that it will acquire Aeroquip-Vickers. Moody's also assigned an A2 senior, unsecured debt rating to Eaton's bank revolving credit facilities. Aeroquip-Vicker's debt ratings remain under review for possible upgrade pending the final legal structure of the company's debt in Eaton's organization.
A class action lawsuit was filed on behalf of Orbital Sciences Corp. shareholders accusing officers and directors of the company of false and misleading financial statements. Orbital reported a $6.4 million loss in 1998 following changes in accounting procedures that led the company to restate results for the first three quarters of the year (DAILY, Feb. 18).
The U.S. Navy is reviewing a new baseline for its Navy Area Wide lower tier theater missile defense program, which may slip fielding of the first unit equipped beyond its targeted fiscal year 2003 timeframe. "We are looking at a rebaselining of our Navy Area Wide based on changes in our testing requirements, based on engineering development changes," Rear Adm.-select Paul S. Schultz, Navy director of Theater Air Warfare, told The DAILY in an interview.
The Dept. of Justice cleared Newport News Shipbuilding's $470 million acquisition of Avondale Industries Inc., Avondale reported yesterday. The transaction remains subject to the approval of shareholders of both companies and the consent of the Administrator of the Maritime Administration of the Dept. of Transportation. The move comes on the heels of a $1.4 billion unsolicited bid for Newport News by General Dynamics (DAILY, Feb. 22).
LAUNCH OF THE ARGOS SATELLITE from Vandenberg AFB, Calif., has been scheduled for Tuesday, with a one-hour launch window opening at 2:10 p.m. PST. The launch aboard a Boeing Delta II was scrubbed Saturday, Feb. 13, after a momentary spike in one of the two power sources to the first stage electronics package was observed. Boeing isolated the cause to the first stage center body, which houses the power and control box and the first stage electronics package.
United Technologies Corp. moved to solidify its place in the aerospace supplier market with an agreement to acquire parts maker Sundstrand Corp. for $4.3 billion in cash and stock, the companies reported yesterday. The transaction will be a 50% cash - 50% stock merger split, and Sundstrand will be combined with UTC's Hamilton Standard division, forming one of the world's largest suppliers of airframe components and subsystems. The new entity will be called Hamilton Sundstrand.
February 16, 1999 Honeywell, Inc. Military Avionics Division, Clearwater, Fla., is being awarded a $7,928,000 face value increase to a firm fixed-price contract to provide for 123 imbedded Global Positioning System/Inertial Navigation System units and associate warranties in support of the Army AH-64 helicopter. The last scheduled contract delivery date is Jan. 31, 2001. At this time, all of the funds have been obligated. Aeronautical Systems Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity (F33657-93-C-0002, P00165).
Fairchild Corp., Dulles, Va., acquired 77.3% of France's SNEP, which makes self-locking nuts and special threaded fasteners for European industrial, aerospace and automotive markets, Fairchild reported yesterday. SNEP, Montbrison, France, serve about 600 customers, with about 58% of its sales to the industrial market and the rest to aeronautical and space.
February 17, 1999 Lockheed Martin Corporation Lockheed Martin Skunk Works, Palmdale, Calif., is being awarded a $10,315,981 face value increase to a firm fixed-price contract to provide for 12 Single Configuration Fleet Service Bulletin Kits, associated test and spares, and one Maintenance Trainer Unit in support of the F-117 aircraft. The contract completion date is July 28, 2000. At this time, $9,190,981 has been obligated. Aeronautical Systems Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity (F33657-98-D-0117, Order 000302).
FAA officials, including Monte Belger, acting deputy administrator, will give briefings on the agency's proposed fiscal 2000 budget at an Air Traffic Control Association symposium Wednesday at the Crystal City Hyatt Regency Hotel, Arlington, Va.
U.S. troops will evaluate their ability to identify friendly and hostile forces during an exercise in Eastern Georgia next month. The fourth annual combat identification evaluation exercise will draw more than 5,000 troops from 55 military units and commercial companies. The All Services Combat Identification Evaluation Team (ASCIET), based at Eglin AFB, Fla.. will oversee the 12-day event, which begins March 1.
Litton Industries yesterday said Stephen A. Mazzo has been named president of its Applied Technology Div., San Jose, Calif. Mazzo replaces Charles B. Hofmann, who will retire from Litton after 30 years of service with the company, 15 as a general manager. Litton said Hofmann will serve temporarily in a staff capacity to assure a seamless management transition.
Northrop Grumman announced first flight of its Active Electronically Scanned Array (AESA) radar, intended for a variety of military applications. The two-hour flight, on Dec. 17 from the Baltimore facility of the company's Electronic Sensors and Systems Sector (ES3) aboard a BAC 1-11 avionics testbed, showed that the radar can detect airborne targets of opportunity in its all-aspect search mode.
A federal court in Texas has turned down a Lockheed Martin Corp. application for preliminary injunction against Raytheon Co. in connection with the TOW missile program, Raytheon said yesterday. Raytheon said Lockheed Martin applied on Jan. 27 for an injunction prohibiting Raytheon from responding to a U.S. Army request for information on the TOW fire-and-forget missile, other than through a Lockheed/Raytheon Javelin Missile Joint Venture.
Lockheed Martin said three of its companies reached tentative agreements with the International Association of Machinists&Aerospace Workers that cover some 8,400 employees. The affected plants are Lockheed Martin Aeronautical Systems in Marietta, Ga.; Lockheed Martin Skunk Works in Palmdale, Calif., and Lockheed Martin Missiles&Space in Sunnyvale, Calif. The talks started at each site in December and shifted to San Antonio, Tex., at the beginning of February. They concluded on Sunday.
Blackwell also says Lockheed Martin still thinks there are opportunities for the supersonic business jet, and it continues to work with Gulfstream on that possibility. "We would use technology developed at Skunk Works along with Gulfstream's obvious capability, and see if we can't find a niche market," he says. "We're not interested in being the front end of a commercial venture, but interested in participating."
The next seeker characterization test of the Patriot PAC-3 is slated to take place within the next week, if the weather is favorable and winds die down at White Sands Missile Range, N.M. The Army and the Ballistic Missile Defense Organization called off the test last week due to windy conditions. The test will be a seeker characterization of PAC-3 using a Hera target. The Hera failed the last time the Army tried to conduct the seeker characterization test and the PAC-3 was not launched.The Hera target glitch has been solved, clearing the way for the upcoming test.
