20 novembre 2019 | International, Aérospatial
By: Andrew Chuter
LONDON — The British government has signaled it will give the green light to a £4 billion (U.S. $5 billion) takeover that would see local defense contractor Cobham acquired by a U.S.-based private equity company.
Business Secretary Andrea Leadsom announced Nov. 19 that she was “minded to accept” the proposed takeover but would put out for public consultation assurances given by Advent International regarding British security concerns before making a final call.
Advent moved to buy Cobham in July securing the approval of 93 percent of shareholders in the Wimborne, southwest England-based contractor best known for its world leading role of air-to-air refueling technology.
Cobham's annual turnover of £1.86 billion took it to 57th place in the Defense News Top 100 companies listing earlier this year.
Over 50 percent of its revenues were generated in the United States where the company has substantial manufacturing facilities.
The British government intervened in the takeover in September following criticism led by Nadine Cobham, whose father-in-law formed the company in 1935. Members of Parliament also raised security concerns over the sale.
The government has spent the last few weeks reviewing the proposed acquisition ahead of Leadsom outlining the government's current position.
"Following my update to Parliament on 5. November, I have now reviewed further national security advice from the Ministry of Defence and met with both Cobham and Advent, who have offered legally binding undertakings designed to mitigate national security concerns, which I am minded to accept.”
"They will now be considered by a public consultation, and I will provide a further update once that process has concluded,” said Leadsom.
The consultation closes Dec. 17 – five days after the general election.
The assurances include Advent giving the MoD prior notice of plans to sell off parts or all of Cobham, agreeing to honor the terms of existing contracts. In addition, the new owners would have to ensure existing security arrangements are strengthened and maintain the ability to supply key services for five years.
Nadine Cobham has previously said assurances were not worth the paper they were written on.
Alex Ashbourne-Walmsley, a defense consultant at ASC here in London, said she thought Leadsom had taken the right decision on the Cobham sale.
“It's advisable for the government to respect the clear instructions of the Cobham shareholders. It is sensible, however, for government to build in conditions regarding any future sale of parts of the business. Private equity houses, unlike traditional industrial corporations, tend to take the shorter-term, more profit-driven view of disposal of their acquisitions, rather than considering matters such as national security of supply and the wider strategic interest,” she said.
Criticism over the proposed acquisition of an important part of the British defense industry follows the controversial takeover last year of GKN by Melrose, another private equity company.
Despite the furore over the Cobham sale the Financial Times said today the assurances sought by the government from Advent were weaker than those demanded to wave the GKN deal through.
23 janvier 2019 | International, Naval
By Richard Abott The Navy's program manager for the new FFG(X) future frigate program said the service expects the follow-on units to cost close to $800 million. “We started closer to the $950 [number], we are trending very close to the 800 [number] now. So we have taken... https://www.defensedaily.com/new-frigate-follow-ships-expected-cost-near-800-million
25 juillet 2019 | International, Aérospatial
La France va investir 700 millions d'euros supplémentaires dans le spatial militaire d'ici à 2025, pour renforcer ses moyens de surveillance et se doter de capacités d'auto-défense dans l'espace. Une somme qui s'ajoute aux 3,6 milliards d'euros déjà prévus pour le spatial de défense dans la Loi de programmation militaire française 2019-2025. « Aujourd'hui, nos alliés et nos adversaires militarisent l'espace. Et alors que le temps de la résilience se fait de plus en plus court, nous devons agir. Nous devons être prêts. » Jeudi 25 juillet, Florence Parly, ministre des Armées, s'est rendue au Commandement de défense aérienne et des opérations aériennes (CDAOA), situé sur la Base aérienne 942 de Lyon Mont-Verdun afin de présenter les grandes orientations militaires françaises dans le domaine spatial. Véritable enjeu, l'espace est devenu un lieu de confrontation de plus en plus militarisé. Indispensables au bon déroulement des opérations militaires, nos satellites et leur sauvegarde constituent un impératif stratégique. C'est pourquoi Florence Parly a annoncé que la France allait investir 700 millions d'euros supplémentaires dans le spatial militaire d'ici à 2025, pour renforcer ses moyens de surveillance et se doter de capacités d'auto-défense dans l'espace. Une somme qui s'ajoute aux 3,6 milliards d'euros déjà prévus pour le spatial de défense dans la Loi de programmation militaire française (LPM) 2019-2025. La stratégie spatiale dévoilée par la ministre des Armées se décline selon trois axes : organisationnel, juridique et capacitaire. Montée en puissance progressive du commandement de l'espace Ainsi, comme l'avait annoncé Emmanuel Macron le 13 juillet, un grand commandement de l'espace verra le jour le 1er septembre à Toulouse. Il sera placé sous l'autorité de l'armée de l'Air qui deviendra l'armée de l'Air et de l'espace. Son rôle : fédérer et coordonner tous les moyens consacrés au domaine spatial de défense. « A terme, il doit conduire l'ensemble de nos opérations spatiales, sous les ordres du chef d'état-major des armées et en lien avec le CPCO à l'instar de l'ensemble de nos opérations », a précisé Florence Parly. Doté d'une équipe de 220 personnes, ce commandement de l'espace montera progressivement en puissance sur la durée de la loi de programmation militaire, d'ici à 2025. Pour mettre en place sa stratégie spatiale, la ministre souhaite une évolution des textes régissant l'utilisation de l'espace pour intégrer la spécificité des opérations spatiales militaires. « J'ai décidé que le ministère des Armées assumerait la fonction d'opérateur spatial »explique-t-elle. « Si nous souhaitons être en mesure de mener de véritables opérations spatiales militaires, il nous faut développer une autonomie d'action. » Enfin, Florence Parly a annoncé vouloir perfectionner les capacités de défense spatiale, par le biais d'un nouveau programme d'armement nommé « Maîtrise de l'Espace ». Celui-ci intègrera deux volets : la surveillance et la défense active. Actuellement, la France est une des rares nations à disposer de ses propres capacités de surveillance de l'espace, gr'ce aux radars Graves et Satam ainsi qu'aux télescopes du CNRS et d'Ariane Group. « Demain, nous ferons appel à des moyens et des services plus sophistiqués encore », a souligné la ministre. « Le successeur de Graves devra être conçu pour déceler des satellites de la taille d'une boîte de chaussures à une distance de 1 500 kilomètres. » Afin de mieux protéger nos satellites, des actions seront menées, comme l'intégration de caméras de surveillance aux satellites de communication Syracuse pour leur autoprotection ou encore l'acquisition de nano-satellites patrouilleurs à partir de 2023. Gr'ce à ces futures capacités de surveillance, une défense active pourra être mise en place. La ministre prévient qu'il ne s'agit que d'autodéfense et non d'une stratégie offensive : « Si nos satellites sont menacés, nous envisagerons d'éblouir ceux de nos adversaires. Nous nous réservons le moment et les moyens de la riposte : cela pourra impliquer l'emploi de lasers de puissance déployés depuis nos satellites ou depuis nos nano-satellites patrouilleurs », a-t-elle précisé. https://www.defense.gouv.fr/actualites/articles/florence-parly-devoile-la-strategie-spatiale-francaise-de-defense
6 décembre 2019 | International, Naval
Moorestown, N.J., Dec. 5, 2019 – Lockheed Martin (NYSE: LMT) recently signed a contract with Navantia to equip five new F-110 multimission frigates and their land-based test site (Centro de Integración de Sistemas en Tierra or CIST) – with Lockheed Martin's first naval installation of its solid state S-band radar. The new F-110 frigates will be built by Spain's national shipbuilder, Navantia. Recently designated by the U.S. Government as AN/SPY-7(V)1, this technology is derived from current radar programs and significant Lockheed Martin investment. Variants of the SPY-7 radar will also be utilized on programs with Japan's Aegis Ashore, the Royal Canadian Navy for the Canadian Surface Combatant program and the U.S. Government. Why Does It Matter? Providing Spain's homeland with a defense for evolving threats, the F-110 program will further protect the country and its citizens. Equipped with the latest digital, solid-state radar technology, this crucial program: Ensures Spain's warfighters have the most capable combat system to perform new missions. Strengthens Spain's economy through industrial participation. Advances Spain's competitiveness in the global market by providing an opportunity for joint technology development. Paves the way for interoperability with navies across the world, thanks to Aegis' open architecture. What's the Technology? The F-110 will host the first-ever naval solid state S-band radar for the Spanish Navy. To foster the growth of Spain's defense and technology industries, Lockheed Martin and Spanish company, Indra, will jointly provide the radar. It will go to sea as part of the Aegis Weapon System, which will be integrated with the ship's combat management system SCOMBA, when the first frigate deploys in 2026. The Aegis Weapon System is the most deployed combat system in the world, and its flexible system enables it to fulfill a variety of missions. Due in part to its unique open architecture design, the Aegis family continues to grow internationally as more nations around the world partner with Lockheed Martin. What's the History? Lockheed Martin and its Spanish partners have over 20 years of experience in development, production and integration of tactical naval radar systems. Spain's defense industry growth and expansion of their maritime defense portfolio is a mission Lockheed Martin continues to support. In the exciting future that lies ahead, Lockheed Martin will continue to work with Spanish industry to explore new areas of industrial cooperation in radar and combat system technologies. This will help pave the way for future international sales of the F-110 frigate and new technologies, including the new S-band radar. For more information about Lockheed Martin radars, visit www.lockheedmartin.com/en-us/capabilities/radar-sensors.html 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. View source version on Lockheed Martin: https://news.lockheedmartin.com/2019-12-05-Lockheed-Martin-Continues-Partnership-with-Spain-for-Future-Frigates