Silicon Valley-style innovation clusters to include aviation companies

On the same subject

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  August 16, 2021 | Local, Aerospace

  Stantec to design two fighter jet facilities in Quebec and Alberta - Construction Canada

  Global architecture, engineering, and design firm Stantec has been selected to design the Future Fighter Capability Project Fighter Squadron Facilities at 3 Wing Bagotville, Que. and the Fighter Squadron Facility at 4 Wing Cold Lake, Alta. Jodoin Lamarre Pratte architectes has been mandated, within the multidisciplinary team assembled by the joint-venture of builders Ellis Don / EBC and Stantec in engineering, to design the fighter jets squadron facility on one of the main bases of operations which will host the new aircrafts Canada will acquire by 2025.

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  September 25, 2019 | Local, Aerospace, Naval, Land, C4ISR, Security

  Opinion: After Major Mergers, What’s Next For Defense Market?

  By Byron Callan This year has shaped up as a record one in terms of the volume of major defense transactions so far announced. Considering deals of $100 million or more in announced value where defense is the primary factor, the 2019 total exceeds $61 billion. Of course, the largest single example is the Raytheon-United Technologies Corp. (UTC) merger. There are reasons to expect heightened activity in 2019 and 2020. Some reasons are known and others can be assessed, but one that does not appear to be affecting market expectations is the Raytheon-UTC deal. Since it was announced on June 9, the companies' share prices have declined from the June 7, close: Raytheon's by 4% and UTC's by 5.7%. The S&P 500 has been flat. However, share prices of peers have risen—General Dynamics is up 5.4%, L3Harris Technologies has increased 6.2%, Lockheed Martin and Leidos have climbed 7% and Northrop Grumman is up 14.4%. These price moves may be attributable to safe-haven seeking by investors who were spooked by global economic concerns and trade wars, but the budget deal reached by Congress also was a factor, as were July earnings reports. The price reactions, however, do not suggest that investors are particularly concerned about the impact of the competitive strength of the Raytheon-UTC union and its ability to take market share away from peers. Nor do they suggest that the deal will trigger a rush by defense-focused companies to merge with commercial ones. Were the latter to be the case, the price reactions may have been similar to Raytheon and United Technologies'. There have been other known developments that raise the question of what is next. Kaman Corp. sold its industrial distribution business for $700 million and will seek to redeploy that capital into engineering products businesses, some of which could involve defense. L3Harris signaled in June that it is undertaking a portfolio cleanup after the completion of the merger, and so there should be divestitures from that company. Textron announced in August that it was reviewing “strategic alternatives” for Kautex, which makes blow-molded fuel systems and other parts primarily for the automotive industry. Presuming that it leads to a sale of that business, Textron will have cash, some of which might be spent on defense. There are general factors as well that could spawn sector merger and acquisition activity in 2019-20. One of the biggest is the potential uncertainty surrounding the outcome of the 2020 U.S. elections. Buyers and sellers have to weigh a number of variables. If the current administration is reelected and control of Congress remains split at least through 2022, then it may be safe to assume that the status quo will continue. One variable within the status quo is how contractor portfolios could be affected by the ongoing efforts of the Pentagon to better align its programs with the National Defense Strategy. Like the Army's “night court” process, this may yet spawn a reassessment of specific programs and their future growth outlook. But if the status quo does not prevail, defense contractors could face a wall of uncertainties in 2020 and may choose to act before rather than after these uncertainties are clarified. First, they will have to assess which Democratic candidate could win the primary cycle and then the nomination. If it is a centrist candidate, the Defense Department spending outlook might not change all that much, although exports to some countries might be curtailed and there could be changes in some Pentagon budget priorities, particularly for nuclear forces modernization. A more progressive-leaning candidate might raise the risk of a more subdued defense budget outlook, particularly if fiscal resources are instead directed toward health care, infrastructure, student debt and other nondefense priorities. Second, there will have to be an assessment of whether a Democratic win of the White House could also flip control of the Senate to the Democrats. If there is a Democrat in the White House but a Republican majority in the Senate, the Senate could still check budgets or policies that may be detrimental to defense. It might also block efforts to roll back changes to tax laws made in 2017. A third variable to be assessed is the attitude of a new administration toward defense mergers and acquisitions, contractor financing and risk. A more progressive administration could look very differently at the structure and financial status of contractors. All these variables will lead to different analyses of current and future value in defense. Is it a good time to hunker down and wait to see what happens or to act in the time that remains in 2019-20 before investors and creditors draw their own conclusions? These uncertainties alone suggest that some will act in anticipation of a change rather than just wait and see. https://aviationweek.com/defense/opinion-after-major-mergers-what-s-next-defense-market

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  December 7, 2022 | Local, Naval

  CCGS Hudson to be responsibly deconstructed

  Dartmouth, Nova Scotia - Following an illustrious 59 years of service supporting ocean science work in Canada and around the world, the CCGS Hudson is taking its final voyage and is set for deconstruction and environmentally-responsible disposal. On November 28, 2022, after an open competitive process, Public Services and Procurement Canada, on behalf of the Canadian Coast Guard (CCG), awarded the contract for the vessel’s deconstruction to Antigonish-based marine contracting company R.J. MacIsaac Construction Ltd (RJMI). The cost for this environmentally-responsible disposal contract is $1.6 million. In the coming weeks, the Canadian Coast Guard will sign over the care and custody of the decommissioned vessel to RJMI. The vessel will then be towed from the Bedford Institute of Oceanography in Dartmouth, Nova Scotia to a temporary storage site in Halifax Harbour for a few months. In Spring 2023, RJMI will tow the vessel to their Sheet Harbour facility where the hazardous material remediation and disposal process will be performed. By Fall 2023, the vessel will be removed from water and the hull and superstructure will be disassembled. The overall project is expected to be completed by the end of Fall 2023. RJMI will ensure that any steel, stainless steel, aluminum, or other recyclable materials onboard the vessel are recycled while non-recyclable materials are disposed of in an environmentally-responsible manner, in compliance with federal, provincial, and municipal regulations. As well, the contractor will salvage and return the CCGS Hudson’s hull transducers and propellers to the CCG.  Quotes “Today is a bittersweet day as the Canadian Coast Guard responsibly disposes of the CCGS Hudson, a trailblazing vessel that has served Canadians and Canadian scientists for nearly 60 years. The Canadian Coast Guard taking this step serves as a reminder to all vessel owners across the country to have a plan to dispose of their ships in an environmentally responsible way to protect our lands and oceans.” The Honourable Joyce Murray, Minister of Fisheries, Oceans and the Canadian Coast Guard "For over half a century, the CCGS Hudson has proudly served our country. As this vessel retires, I’m thrilled to see a local company in Sheet Harbour receive the contract to deconstruct the vessel which will create jobs in Sheet Harbour and support the local economy." The Honourable Sean Fraser, Minister of Immigration, Refugees and Citizenship “As we mark the final chapter of CCGS Hudson’s illustrious history, I’m reminded of all of the Canadian Coast Guard personnel that sailed on the ship and left their mark on Canadian ocean science. I am particularly proud that some of the CCGS Hudson’s history will be preserved as a reminder to celebrate the past as we navigate the future in oceanographic science missions.” Mario Pelletier, Commissioner of the Canadian Coast Guard Quick facts Prior to the handover of the ship to R.J. MacIsaac Construction Ltd., Canadian Coast Guard personnel removed a number of items including the ship’s bell, the wheel, chronometer, anchors, and photographs from the CCGS Hudson which are currently being safely stored. The historic items will be archived or donated to maritime museums, installed on the future Offshore Oceanographic Science Vessel currently under construction at Seaspan’s Vancouver Shipyard, installed on other CCG vessels where appropriate, or placed as historical decorative pieces at departmental sites. The CCGS Hudson was a key platform for Fisheries and Oceans Canada’s oceanographic science program. The yet to be named Offshore Oceanographic and Science Vessel, isn’t expected to be delivered until 2025. The Canadian Coast Guard continues to work closely with Fisheries and Oceans Canada to mitigate the impacts on science programming. The future Offshore Oceanographic and Science Vessel is being built as part of the Government of Canada’s National Shipbuilding Strategy (NSS).  The Offshore Oceanographic Science Vessel (OOSV), the second class of Canadian Coast Guard vessels being built by Seaspan’s Vancouver Shipyards, is a critical step in the renewal of the Coast Guard Fleet. The OOSV will support the Government of Canada’s next 30 plus years of cutting edge scientific research that will help inform decisions about protecting our fisheries, oceans and coastal areas.  https://www.canada.ca/en/canadian-coast-guard/news/2022/12/ccgs-hudson-to-be-responsibly-deconstructed.html