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July 7, 2023 | International, Other Defence

Exclusive: PE firms, defense companies vie for Ball Corp's aerospace unit

Private equity firms Blackstone Inc and Veritas Capital Fund Management LLC are competing against large defense companies to acquire the aerospace business of Ball Corp , according to people familiar with the matter.

https://www.reuters.com/markets/deals/pe-firms-defense-companies-vie-ball-corps-aerospace-unit-sources-2023-07-07/

On the same subject

  • Lockheed Martin-Led Team Begins Construction On Navy’s Littoral Combat Ship, The Future USS Beloit

    July 24, 2020 | International, Naval

    Lockheed Martin-Led Team Begins Construction On Navy’s Littoral Combat Ship, The Future USS Beloit

    Marinette, Wis., July 22, 2020 – Lockheed Martin and Fincantieri Marinette Marine marked the beginning of construction on Littoral Combat Ship (LCS) 29, the future USS Beloit, with a ceremony in Marinette. As part of a ship-building tradition dating back centuries, a shipyard worker welded into the ship's keel plate the initials of Major General Marcia M. Anderson (U.S. Army, Retired), USS Beloit ship sponsor and a Beloit, Wisconsin, native. This plate will be affixed to the ship and travel with Beloit throughout its commissioned life. LCS 29 will be the 15th Freedom-variant LCS and will join a class of more than 30 ships. To date, four Freedom-variant LCS have deployed to support U.S. Navy presence and peacekeeping missions. In May, LCS 7 (USS Detroit) partnered with a U.S. Navy destroyer and Coast Guard teams to serve interdiction missions in the U.S. Southern Command Area of Responsibility. “With two deployments so far this year, Freedom-variant LCS have proven that they are capable and can serve a unique role in the U.S. Navy's fleet,” said Joe DePietro, vice president and general manager of Small Combatants and Ship Systems. “LCS' speed, maneuverability and flexibility allows the ship to serve a multitude of missions by quickly integrating equipment and deploying manned and unmanned aerial, surface or sub-surface vehicles.” In total, there are more than 500,000 nautical miles under the keel of Freedom-variant LCS. The ship delivers advanced capability in anti-submarine, surface, and mine countermeasure missions, and was designed to evolve with the changing security environment. As near-peer competition from large nation states increases, Lockheed Martin is partnering with the Navy to evolve LCS to meet these threats. Targeted upgrades are already underway with naval strike missiles being installed in support of upcoming deployments. Future installs of improved electronic warfare and decoy launching systems are under development. LCS 29 is the first Navy ship to be named after Beloit, Wisconsin, and the ship's sponsor has personal ties to Beloit. During a long career with the U.S. military, Major General Anderson became the first African American woman to obtain the rank of major general in the U. S. Army and U. S. Army Reserve. As a citizen-soldier, Anderson was employed for 28 years by the United States Courts, where she served as the Clerk of the Bankruptcy Court, Western District of Wisconsin, located in Madison, Wisconsin, until her retirement in late 2019. "The construction of the Navy's newest Littoral Combat Ship and naming it after the city of Beloit, with its rich and storied history of supporting our nation's national security, is more than fitting,” said Major General Anderson. “When completed, the USS Beloit's voyages will be part of the tradition of small cities and towns in America sharing our story around the world." Beloit is one of six LCS in various stages of construction and test at the Fincantieri Marinette Marine shipyard. “We are proud to celebrate the future USS Beloit today,” said Jan Allman, CEO of Fincantieri Marinette Marine. “The Fincantieri Marinette Marine shipyard is honored to build this capable warship, named for another city from the wonderful state of Wisconsin. I think this is a true testament to the hard work and patriotism of Midwesterners, and we look forward to working with the City of Beloit as we continue building LCS 29 for our US Navy partner.” For additional information, visit our website: www.lockheedmartin.com/lcs. About Lockheed Martin Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. About Fincantieri Marinette Marine Fincantieri is the leading western shipbuilder with a rich history dating back more than 230 years, and a track record of building more than 7,000 ships. Fincantieri Marine Group is the American subsidiary of Fincantieri, and operates three Great Lakes Shipyards: Fincantieri Marinette Marine, Fincantieri Bay Shipbuilding, and Fincantieri ACE Marine. Fincantieri Marine Group's more than 2,100 steelworkers, craftsman, engineers and technicians in the United States specialize in the design, construction and maintenance of merchant ships and government vessels, including for the United States Navy and Coast Guard. About Gibbs & Cox Gibbs & Cox, the nation's leading independent maritime solutions firm specializing in naval architecture, marine engineering and design, is headquartered in Arlington, Virginia. The company, founded in 1929, has provided designs for nearly 80 percent of the current U.S. Navy surface combatant fleet; approaching 7,000 naval and commercial ships have been built to Gibbs & Cox designs. View source version on Lockheed Martin: https://news.lockheedmartin.com/lockheed-martin-led-team-begins-construction-on-navys-littoral-combat-ship-the-future-uss-beloit

  • Landing Ship Medium requirements in final approvals with Navy, Marines

    April 4, 2023 | International, Naval

    Landing Ship Medium requirements in final approvals with Navy, Marines

    The Navy and Marines are back on the same page about a low-cost Landing Ship Medium, following negotiations over survivability and capability of the craft.

  • Navy Awards Contract for First Vessel In Its Family of Unmanned Surface Vehicles

    July 15, 2020 | International, Naval

    Navy Awards Contract for First Vessel In Its Family of Unmanned Surface Vehicles

    By: Sam LaGrone July 14, 2020 8:48 PM • Updated: July 15, 2020 6:38 AM The Navy has awarded a contract for the first unmanned surface vessel it will design and build on its own, a key milestone for the eventual family of unmanned systems that will be a key component of the future surface fleet, according to a Monday contract announcement from the Pentagon. L3 Technologies won a $35-million contract to develop a prototype medium unmanned surface vehicle (MUSV) on Monday, which could grow to $281 million if options for eight follow-on craft are exercised, Naval Sea Systems Command announced. The contract calls for delivering the first prototype by the end of the Fiscal Year 2023, according to a release from NAVSEA. “The president's 2021 budget request for the Navy includes additional funding for a second MUSV prototype in FY23. The acquisition strategy for the FY23 vessel is to be determined, however, for flexibility, the development contract contains options for additional USVs,” read the statement. The award to L3 for MUSV is the Navy's first bite at the apple for developing a USV. DARPA contracted for two Sea Hunter vessels in what was originally the Anti-Submarine Warfare (ASW) Continuous Trail Unmanned Vessel (ACTUV) program but has since shifted its focus to be the predecessor to MUSV. A Pentagon office also contracted for two Large USVs as part of the Overlord program, and the Navy will also take those vessels and use them to shape an eventual LUSV program of its own. The Navy envisions a family of unmanned systems that will be the backbone of a future fleet of netted “attritable” platforms that will provide lower-cost options compared to manned surface combatants like the Arleigh Burke-class destroyer or the new FFG(X) frigate program. “The initial focus is on the design, fabrication, testing and support of funded MUSV prototype vehicles. Rapid prototyping efforts will inform procurement of additional MUSV units,” Navy spokesman Capt. Danny Hernandez told USNI News on Tuesday. “The Navy will continue to assess the MUSV acquisition plan and has the option to conduct new or additional competitions, if warranted.” According to a notional list of requirements reviewed by USNI News in 2019, the MUSV would “function as a sensor and communications relay as part of a family of unmanned surface systems being developed by the service. The craft will be able to carry a payload equivalent to a 40-foot shipping container, will operate on its own for at least 60 days before needing to return to port, and be capable of refueling at sea,” reported USNI News. “The craft will have to also be able to autonomously operate under the rules of the maritime road at a cruising speed of about 16 knots with a minimum range of about 4,500 nautical miles and operate via a government-provided communication relay system.” L3 served as a subcontractor for Leidos, the lead contractor for the Sea Hunter program that DARPA contracted for before passing it off to the Navy. However, the next version of the MUSV will be different from the Sea Hunter, Navy officials told USNI News this week. “The MUSV and the existing Sea Hunter vessel have differing missions and requirements. The existing Sea Hunter vessel was designed and built with the mission of anti-submarine warfare and would be capable of tracking and following submarines using a hull-mounted sonar array over long distances. The MUSV will provide and improve distributed situational awareness in maritime areas of responsibility through [intelligence, surveillance and reconnaissance] and [electronic warfare] implemented by modular payloads,” Hernandez told USNI News. While the program is under development, the current Sea Hunter has been assigned to Surface Development Squadron 1 and is set to operate with a carrier strike group in the near future. L3 Technologies Inc., Camden, New Jersey, is awarded a $34,999,948 fixed-price-incentive-firm-target contract for the detail design and fabrication of a prototype Medium Unmanned Surface Vehicle (MUSV). This contract includes options for up to eight additional MUSVs, logistics packages, engineering support, technical data, and other direct costs, which, if exercised, will bring the cumulative value of this contract to $281,435,446. Work will be performed in Morgan City, Louisiana (72.7%); Arlington, Virginia (9.8%); Jeanerette, Louisiana (8.1%); New Orleans, Louisiana (6.6%); Worthington, Ohio (1.7%); Lafayette, Louisiana (0.9 %); and Gautier, Mississippi (0.2%), and is expected to be completed by December 2022. If all options are exercised, work will continue through June 2027. Fiscal 2019 and 2020 research, development, test and evaluation funding in the amount of $34,999,948 will be obligated at the time of award, and $29,779,038 will expire at the end of the current fiscal year. https://news.usni.org/2020/07/14/navy-awards-contract-for-first-vessel-in-its-family-of-unmanned-surface-vehicles

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