7 août 2020 | International, Terrestre
by Charles Forrester
South African armoured vehicle designer and manufacturer OTT Technologies has acquired LMT, which has been in business rescue since September 2019.
The acquisition closed in July, OTT Technologies business development manager Chris Gildenhuys told Janes on 5 August. The value of the acquisition is not being disclosed at this time.
According to Gildenhuys, the acquisition of LMT Products “is a strategic move for OTT Technologies to expand on its own range of proven mine-protected armoured vehicles”. LMT designs and manufactures a variety of protected products, ranging from protected cabs for Mercedes Benz to the LM8 and LM13 vehicles.
The LMT Products division of OTT Technologies will, for the foreseeable future, continue to operate under the LMT Products brand and the vehicles will retain their respective designations. The merger will obviously bring about branding and structural changes in future. The first priority is to get the LMT division back on track in as far [as] the personnel component, manufacturing, and sound day-to-day management,” Gildenhuys said.
When LMT went into business rescue there were still some incomplete contracts, including one with a Middle Eastern customer, Gildenhuys added. That particular contract will now be honoured and completed.
Denel had been the majority shareholder of LMT Holdings since it acquired its stake in 2012, with the underlying business with LMT Products. LMT Holdings was 51% owned by Denel, 29% by Pamodzi, and 20% by the founding members, and included LMT Products, LMT Engineering, and LMT Properties.
https://www.janes.com/defence-news/news-detail/ott-takes-over-lmt
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NEWPORT NEWS, Va., Aug. 01, 2019 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE: HII) announced today that its Newport News Shipbuilding division has received a $290 million contract modification from the U.S. Navy to continue planning for the refueling and complex overhaul (RCOH) of the aircraft carrier USS John C. Stennis (CVN 74). The contract funds the second and third years of planning, long-lead-time material procurement, shop fabrication, shipboard inspections, and facilities readiness for the RCOH. As part of the planning contract, Newport News also will perform some shipboard work, which will take place in Norfolk. The initial year of planning was funded at a base value of $187.5 million. “The second and third year of planning is important to the overall success of a project of the magnitude of an RCOH,” said Chris Miner, Newport News' vice president of in-service aircraft carriers. “This contract allows us to continue our critical planning for each step of the process so we're ready to begin execution when the ship arrives in the first quarter of 2021.” Stennis will be the seventh Nimitz-class carrier to undergo a major life-cycle overhaul at Newport News, representing 35 percent of all maintenance and modernization completed during its service life. An RCOH is an extremely complex engineering and construction project that involves more than 680 suppliers from 40 states providing material and services critical to the overhaul process. Once completed, a recapitalized carrier is capable of supporting current and future warfare doctrine and continuing to operate as the centerpiece of the Navy's fleet and national defense for another 25 years. About Huntington Ingalls Industries Huntington Ingalls Industries is America's largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII's Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII's Technical Solutions division provides a wide range of professional services through its Fleet Support, Mission Driven Innovative Solutions, Nuclear & Environmental, and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs more than 41,000 people operating both domestically and internationally. For more information, visit: HII on the web: www.huntingtoningalls.com HII on Facebook: www.facebook.com/HuntingtonIngallsIndustries HII on Twitter: twitter.com/hiindustries CONTACT INFORMATION Duane Bourne Manager of Media Relations (757) 380-3581 Duane.A.Bourne@hii-co.com https://newsroom.huntingtoningalls.com/releases/photo-release-huntington-ingalls-industries-continues-planning-for-mid-life-refueling-overhaul-of-uss-john-c-stennis-cvn-74