HENSOLDT and ERA announce Strategic Collaboration for Passive Advanced Air-Surveillance and Air-Defence Solutions

On the same subject

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  October 1, 2020 | International, Naval

  South Korea's Hanjin up for sale

  Jon Grevatt Hanjin Heavy Industries and Construction (HHIC) – one of South Korea's most prominent naval shipbuilders – has announced that the state-owned Korea Development Bank (KDB), its main creditor and largest shareholder, is looking to sell its stake in the company. HHIC, based in Busan, said in a filing to the South Korean stock exchange on 29 September that the KDB has invited bidders to acquire all or part of its 83.45% stake in HHIC, with the aim to finalise a preliminary bidding phase by the end of October. The stake in its entirety is expected to be worth around USD430 million. In a separate statement, the KDB said it plans to sell at least 63.44% of its shareholding in HHIC and to decide on whether to divest the remaining stake before the end of final bidding. It added that its shareholding in HHIC is split across several financial institutions including the KDB itself. Institutions in the Philippines are also shareholders in the company, said the KDB. HHIC has been facing severe economic pressure for several years: a result mainly of a downturn in sales in commercial shipbuilding and construction sectors. In fiscal year 2018, the company's sales increased year-on-year by 3% to KRW1.69 trillion (USD1.44 billion). However, HHIC's losses expanded from KRW278 billion in 2017 to KRW1.32 trillion in 2018. While no HHIC sales figures for the defence sector are available, these are expected to have remained relatively strong. https://www.janes.com/defence-news/news-detail/south-koreas-hanjin-up-for-sale_12630

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  September 15, 2021 | International, Aerospace

  Japan could become partner nation on UK-led future fighter effort, says program director

  The United Kingdom, Sweden, and Italy are jointly developing cutting-edge technologies to feed into the Future Combat Air System effort.

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  May 1, 2019 | International, Aerospace

  Beyond Chinook: Army Secretary Challenges Industry To Revolutionize Heavy Lift

  By SYDNEY J. FREEDBERG JR. A light scout and a mid-size transport remain Army aviation's top two priorities, Secretary Mark Esper said, but industry needs to start thinking about the next heavy-lift aircraft and stop fighting against cuts to the venerable CH-47. WASHINGTON: “I'm asking industry is to think about heavy future vertical lift,” Army Secretary Mark Esper told reporters today. “Where I need their heads to be is thinking about future heavy vertical lift, not about how do we maintain what we have now and make upgrades here or there.” Translation: Boeing and Pennsylvania legislators, stop fighting me to restore funding for the latest upgrade to the venerable CH-47 Chinook — built outside Philadelphia — and join me in brainstorming a radically better aircraft for future great-power wars with Russia or China. “I really want to think aggressively, boldly about what the future may hold, how it can be different,” Esper said. Is that just your advice to industry, I asked, or is there some kind of preliminary study planned that companies could actually get government money for? It's premature to talk dollars, Esper replied. “Whether we help fund that at some point, I don't know, I'm not going to talk about that right now,” he said. “My comment was only we need aircraft in the future that can do that heavy vertical lift movement, but can ... survive in a very contested airspace and keep up with the FARAs and FLRAAs.” That's the Future Attack Reconnaissance Aircraft — a light scout to fill the gap left by the retired OH-58 Kiowa — and the Future Long-Range Assault Aircraft — a mid-size transport to replace the UH-60 Black Hawk. Both are intended to be high-speed, long-range aircraft.The solution probably will be turboprop/helicopter hybrids, rather than conventional helicopters, that can operate on fast-paced, far-flung future battlefields where precision-guided missiles can kill the forward fuel depots and maintenance bases on which today's shorter-ranged helicopters rely. FARA is the Army's top-priority aircraft program, Esper reiterated here at the Brookings Institution today, and FLRAA is No. 2. But once the light scout and the mid-size transport programs are further along, Esper said for the first time today, his no. 3 priority will be a new heavy hauler. “We're not there yet, right, obviously we need to get FARA and FLRAA moving,” Esper said. “No. 3 is I need to eventually think about what's the future of heavy vertical lift,” Esper told the audience at Brookings. “What's the future replacement for the Chinook” with the greater speed, range, payload, and survivability required for future battlefields? Full article: https://breakingdefense.com/2019/04/beyond-chinook-army-secretary-challenges-industry-to-revolutionize-heavy-lift