Maritime Administration inks a deal for two more multi-mission support ships

On the same subject

• 

  January 31, 2019 | International, Naval

  General Dynamics To Invest $1 Billion In Production Facilities Upgrades With Focus on Subs

  By: Ben Werner General Dynamics Corp. plans to invest $1 billion in 2019 in upgrading and retooling its manufacturing operations company-wide, with a focus on its growing submarine construction business. A plurality of this year's capital expenditures – the reinvestment in manufacturing operations, commonly referred to as CapEx – will focus on making improvements to General Dynamics Electric Boat, the maker of the Virginia-class attack submarines and the new Columbia-class ballistic-missile submarines. “We are poised to support our Navy customers and increase the size of the fleet,” Phebe Novakovic, the chief executive of General Dynamics, said during a conference call with analysts today to discuss the company's 2018 financial results and detail financial expectations for 2019. Submarine builder Electric Boat is on pace to build two Virginia-class Block IV submarines a year while preparing to start building the first Block V submarines. At the same time, Electric Boat is preparing for construction of the first Columbia-class submarine to begin in early 2020. “CapEx will be 3 percent of sales in 2019 mostly because of the Columbia-class construction,” Jason Aiken, the chief financial officer of General Dynamics, said during the call. In 2018, General Dynamics reported sales of $36.2 billion, and the company predicts sales to increase in 2019. General Dynamics capital investments will remain at a similar level for the next two to three years, Aiken said. After 2022, once Columbia-production is ramped up, the level of capital spending is expected to taper off, he added. Overall, the company's Marine Systems division, which includes the Electric Boat, Bath Iron Works and NASSCO shipyards, recorded robust sales growth during the year, and Novakovic said the sales growth is expected to continue in 2019. The Pentagon and Capitol Hill are sending signals that Novakovic said she takes to mean, “we'll see nice defense spending for our programs.” General Dynamics predicts the Marine Systems division will post 2019 sales of $9 billion, a 6-percent increase over sales in 2018. The Marine Systems group has a backlog of 11 Arleigh Burke-class guided-missile destroyers; started construction on the future USNS John Lewis (T-AO-205), a first-in-class oiler for the Navy; and continued building Expeditionary Sea Base ships. “They have done nicely with slow, steady growth, but the real growth driver is Electric Boat,” Novakovic said. https://news.usni.org/2019/01/30/40759

• 

  November 13, 2020 | International, Aerospace, Naval, Land, C4ISR, Security

  Britain moves to protect its defense industry from foreign influence

  By: Andrew Chuter LONDON – Defense and space industries are among nearly twenty sectors named by the British government in the introduction of new legislation Nov. 11 aimed at tightening regulations allowing it to block potentially hostile direct foreign investment. The government said the National Security and Investment Bill will strengthen its ability to investigate and intervene in mergers, acquisitions and other types of deals potentially posing a threat to British national security. Artificial intelligence, robotics, military or dual-use technologies, satellite and space technologies, defense and critical suppliers to the government were among 17 industry sectors included in the new legislation. The new powers allow the government to act against investors from any country, including the United States. “Under the National Security and Investment Bill, the government will be taking a targeted, proportionate approach to ensure it can scrutinize, impose conditions on or, as a last resort, block a deal in any sector where there is an unacceptable risk to national security,” said the Department for Business, Energy and Industrial strategy in a statement. The acquisition of sensitive assets and intellectual property, as well as the acquisition of companies is covered by the legislation. The government said the move brings British legislation into the 21st century. Reporting of deals in the sectors covered by the legislation will be mandatory and companies could face heavy fines and the transactions made void if they fail to get approval from the Business department. Britain's effort to shut the door on unwelcome investors like the Chinese is part of a growing trend among Western nations. Earlier this year the United States introduced mandatory notification requirements for transactions concerning specified types of businesses as part of a broader program of reform. The Australian government have also introduced legislation requiring foreign investors to seek approval to acquire a direct interest in sensitive national security businesses. The powers pending before parliament are similar to those already in place with allies like France, Germany and Italy, said the government. Paul Everitt , the chief executive of the defense, aerospace and security lobby group ADS, welcomed the move but said it was important the government didn't deter overseas investors. “The government's plans must strike an appropriate balance between putting protections in place and continuing to ensure the UK remains an attractive environment for international investment,” said Everitt. Consultant Howard Wheeldon, of Wheeldon Strategic Advisory, also supported the government action, but he cautioned: “Does it [the legislation] have sufficient teeth? We certainly need to protect our specialist industry but we must also ensure and expect the playing field to be kept level.” https://www.defensenews.com/global/europe/2020/11/12/britain-moves-to-protect-its-defense-industry-from-foreign-influence/

• 

  August 29, 2024 | International, Aerospace

  France's Macron hopes to clinch sale of 12 Rafale fighter jets to Serbia this week