June 19, 2019 | International, C4ISR
LE BOURGET, France--(BUSINESS WIRE)--L3 Technologies (NYSE:LLL) announced today that it has signed a joint venture agreement with Saudi Arabian Military Industries (SAMI) to collaborate on electro-optical and infrared (EO/IR) and special mission systems projects within the Kingdom of Saudi Arabia (KSA). The contract was signed on June 18 in the SAMI Chalet during the Paris Air Show.
In February 2019, L3 and SAMI announced the signing of a Memorandum of Understanding (MoU) relating to the joint venture.
“Through this partnership, L3 will further establish a long-term presence within the KSA,” said Christopher E. Kubasik, L3's Chairman, Chief Executive Officer and President. “This venture with SAMI, which includes research and development, manufacturing, training and sustainment activities, represents a key milestone in the further development and execution of L3's international growth strategy.”
“We are pleased to partner with L3 as we move towards our goal of creating a Center of Excellence in the Kingdom,” said H.E. Ahmed Al-Khateeb, Chairman of SAMI. “As we continue to support objectives tied to Saudi Vision 2030, this long-term partnership with L3 will help grow the sensor and mission systems industry while creating a comprehensive through-life support structure for our military customers.”
L3 Technologies designs and manufactures industry-leading multi-spectral and multi-sensor EO/IR imaging and targeting sensor systems in addition to fully customizable mission systems for air, land and maritime vessels. Together, L3 and SAMI will indigenously design and implement these advanced technologies and solutions for a variety of customer-specific applications from a Center of Excellence that will be established in the Kingdom.
About L3 Technologies
With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2018 sales of $10.2 billion.
To learn more about L3, please visit the company's website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company's website and is readily accessible.
About Saudi Arabian Military Industries
Launched in May 2017, Saudi Arabian Military Industries (SAMI) is a state-owned military industries company working under the directives outlined in the Saudi Vision 2030. Aiming to be among the top 25 military industries companies in the world by 2030, SAMI is expected to play a key role in localizing 50% of the Kingdom's total government military spending. SAMI is combining the latest technologies and the best national talent to develop military products and services at par with international standards across four business divisions – Aeronautics, Land Systems, Weapons and Missiles, and Defense Electronics. For more information, visit www.sami.com.sa or e-mail us at info@sami.com.sa.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-Looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
March 12, 2019 | International, Aerospace
Get a look at Boeing's "loyal wingman" type drone unveiled at Avalon 2019. https://www.defensenews.com/newsletters/tv-next-episode/2019/03/04/boeing-unveils-new-drone-for-australia
May 12, 2024 | International, Aerospace
DARPA passed on General Atomics’ dual-hulled design for Liberty Lifter, and said the company was not meeting its “aggressive” schedule and technical goals.
February 21, 2020 | International, C4ISR, Security
Andrew Eversden A breach of a system hosted by the Defense Information Systems Agency, the Department of Defense's primary IT support agency, affected “approximately 200,000” users after a malicious actor may have gained access to names and Social Security numbers, according to a Pentagon spokesman. Chuck Prichard, a DoD spokesman, said there is “no evidence to suggest that any of the potentially compromised [personally identifiable information] was misused.” DISA is sending letters notifying potentially affected users, in line with agency policy. He added that affected individuals “will subsequently receive additional correspondence with information about actions that can be taken to mitigate possible negative impacts.” The news of the breach was first reported by Reuters. Prichard said the breach was discovered during summer 2019. According to Reuters, which viewed a copy of the letter sent out to DISA officials, the breach occurred between May and July 2019. Affected users will also receive free credit monitoring, Prichard said. Prichard declined to specify what network was breached, only that it was hosted by DISA. He also declined to comment on how long the actor was in the network. “DoD and DISA take the security of our people, information (or data) and operations very seriously and actively monitor potential threats," Prichard said. “For operational security reasons, the department does not comment on the actions taken to mitigate risks or vulnerabilities.” He did add that “DISA ... conducted a thorough investigation of this incident and taken appropriate measures to secure the network.” According to its website, DISA employs over 8,000 military and civilian employees. The agency's mission includes protecting the Department of Defense Information Network, a global DoD network used for sharing and storing information. DISA runs a variety of other systems, including combat support, DoD enterprise email and other communication networks. https://www.fifthdomain.com/dod/2020/02/20/how-many-users-were-affected-by-the-disa-breach/