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  February 15, 2020 | International, Aerospace, C4ISR, Security

  Introducing Leonardo and Codemar S.A., a new joint venture focused on security and resilience, infrastructure management, and helicopter-based services

  Rio de Janeiro, February 12, 2020 - Leonardo, the Italian-headquartered aerospace and security multinational, through its subsidiary Leonardo International, which was set up to support the Company's operations around the world, and Codemar, Companhia de Desenvolvimento de Maricá, have announced the creation of a joint venture named Leonardo&Codemar S.A., with 49% share of Codemar and 51% of Leonardo, established under Brazilian law. The joint venture's objective is to become the flagship in the development and delivery of projects for urban security and resilience as well as new infrastructure and helicopter-based services that will boost the expertise of Brazilian industry. Through the implementation of a range of innovative and challenging projects, Maricá will become a “living lab” for the most exciting and promising technological applications contributing to the safety and quality of citizens' life, and the sustainable development within the area. As of today, Leonardo&Codemar will setup joint project teams that, thanks to Leonardo broad product portfolio and advanced technological capabilities and Codemar knowledge of local requirements, aims to progressively become the partner of the Maricá Municipality and the natural recipient of request for projects and services within its business perimeter. The status of the preferred partner to the Municipality of Maricá will give Leonardo&Codemar access to similar projects as they arise throughout the Latin America region. “We are thrilled about the new development of Leonardo's presence in Brazil, showing how an open minded and fair dialogue between such different organisations can shape unexplored and promising mutual opportunities”, said Leonardo's CEO, Alessandro Profumo. He added, “The new joint venture will focus on delivering systems and services for the security, resilience and protection of populations and territories and will prove how space, cyber and digital, aeronautical, and unmanned technologies can contribute to development”. Leonardo and Codemar are joining up financial and technological resources with the intent of leveraging the best of both companies' experience and know-how to provide innovative products and services to the Municipality of Maricá. Thanks to its strategic location, Maricá is set to become a primary logistic base for Oil & Gas operations throughout the Country, with a huge potential for related businesses (i.e. financial, high tech and services) requiring the best and most reliable networked infrastructures. Similarly, a substantial tourist and residential development, facilitated by the proximity to Rio de Janeiro, will be pursued while respecting the City's spectacular and intact territory. About Leonardo: Leonardo, among the top ten world players in Aerospace, Defence and Security, is Italy's main high-technology industrial company. Organised into five business divisions (Helicopters; Aircraft; Aerostructures; Electronics; Cyber Security) Leonardo has a significant manufacturing presence in Italy, the United Kingdom, Poland and the USA, where it also operates through subsidiaries such as Leonardo DRS (electronics), and joint ventures and partnerships: Telespazio, Thales Alenia Space and Avio (space); ATR (regional aircraft); and Elettronica and MBDA (electronics and defence systems). Listed on the Milan Stock Exchange (LDO), in 2018 Leonardo recorded consolidated revenues of €12.2 billion and invested €1.4 billion in Research and Development. The Group has been part of the Dow Jones Sustainability Index (DJSI) since 2010 and became Industry leader of the Aerospace & Defence sector in 2019. About Codemar: Codemar, Companhia de Desenvolvimento de Maricá, manages public goods and areas, encourages the promotion, socio-economic development and the surroundings of the Municipality of Maricá, in collaboration with the municipality, public bodies and the corporate sector, thanks to a progressive expansion of investments. It also contributes to the definition of public policies for economic development in the city of Maricá. View source version on Leonardo: https://www.leonardocompany.com/en/press-release-detail/-/detail/12-02-2020-introducing-leonardo-codemar-s-a-a-new-joint-venture-focused-on-security-and-resilience-infrastructure-management-and-helicopter-based-serv

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  June 9, 2021 | International, Aerospace, Naval, Land, C4ISR, Security

  Contracts for June 8, 2021

  Today

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  October 2, 2018 | International, Aerospace, Naval, Land, C4ISR, Security

  Facing industry pressure, Pentagon backs off contract payment changes

  By: Aaron Mehta and Joe Gould WASHINGTON – Following a wave of criticism from the defense industry and members of Congress, the Pentagon on Monday backed off proposed changes to how companies receive cash flow on their contracts. In a statement released at the unusual time of 7:19 PM, Deputy Secretary of Defense Patrick Shanahan said the decision to withdraw the proposed acquisition changes stemmed from a lack of “coordination” inside the department. “Recently, proposed amendments to the Defense Federal Acquisition Regulation Supplement (DFARS) were prematurely released, absent full coordination,” Shanahan's statement read. “As a result, the Department will rescind the proposed amendments. In coordination with industry, the Department will create a revised rule to implement section 831 of the FY2017 NDAA.” "The department will continue to partner closely with Congress and industry to examine all reform opportunities, ensuring we provide the best value to taxpayers and critical capabilities to military personnel who defend this great Nation,” Shanahan said. Unsaid in the statement: that since word of the proposed changes got out, the defense industry has been loud and unanimous in its opposition, and has enlisted its supporters on the Hill to help fight against the plan, put forth by Undersecretary of Defense for Acquisition and Sustainment Ellen Lord. As part of a broader set of changes to the acquisition rules, Lord hoped to change how companies receive their cash flow based on performance measurements, to act as an incentive for good behavior. In a Sept. 5 interview with Defense News, she laid out the rationale, saying “I believe the lifeblood of most industry is cash flow, so what we will do is regulate the percentage of payments or the amount of profit that can be achieved through what type of performance they demonstrate by the numbers.” However, three major trade groups — The National Defense Industrial Association, Professional Services Council and the Aerospace Industries Association — objected to the proposal, which would slash the payments on work to be performed from 80 percent to 50 percent, with incremental increases for maintaining quality or on-time delivery — and decreases for companies that have committed fraud. Rep. Mac Thornberry, R-Texas, and Sen. Jim Inhofe, R-Okla., the chairs of the House and Senate Armed Services Committees, sent a Sept. 21 letter to Shanahan calling the proposal “fundamentally flawed" and asking that it be rescinded and revisited. “We should not make it harder to do business with the Department of Defense than it is to do business with other parts of government — and that's exactly what this regulation does,” Thornberry told reporters last Tuesday. “We try to streamline acquisition, we try to make it easier to do business with these small companies; and then something like this comes out.” The Pentagon had hoped to implement the rule changes by the end of the year and had planned to hold a public meeting on Oct. 10, before the public comment period ended on Oct. 23. Whether that event will still happen is unclear. https://www.defensenews.com/pentagon/2018/10/02/facing-industry-pressure-pentagon-backs-off-contract-payment-changes