Filtrer les résultats :

Tous les secteurs

Toutes les catégories

    12874 nouvelles

    Vous pouvez affiner les résultats en utilisant les filtres ci-dessus.

  • How the Office of Naval Research hopes to revolutionize manufacturing

    16 octobre 2018 | International, Naval

    How the Office of Naval Research hopes to revolutionize manufacturing

    By: Daniel Cebul WASHINGTON — The Office of Naval Research awarded Lockheed Martin Oct. 1 a two-year, $5.8 million contract to explore how machine learning and artificial intelligence can make complex 3-D printing more reliable and save hours of tedious post-production inspections. In today's factories, 3-D printing parts requires persistent monitoring by specialists to ensure intricate parts are produced without impurities and imperfections that can compromise the integrity of the part overall. To improve this laborious process, the Navy is tasking Lockheed Martin with developing multi-axis robots that use lasers to deposit material and oversee the printing of parts. Lockheed Martin has multiple partners on the contract including Carnegie Mellon University, Iowa State University, Colorado School of Mines, America Makes, GKN and Wolf Robotics and Oak Ridge National Laboratory. The contract covers what Glynn Adams, a senior engineer with Lockheed Martin, describes as the pre-flight model of the program's development. Initial work will focus on developing computer models that can predict the microstructures and mechanical properties of 3-D printed materials to generate simulation data to train with. Adams said the Carnegie Mellon team will look at variables such as, “the spot size of the laser beam, the rate of feed of the titanium wire [and]the total amount energy density input into the material while it is being manufactured.” This information helps the team predict the microstructure, or organizational structure of a material on a very small scale, that influences the physical properties of the additive manufactured part. This data will then be shared with Iowa State, who will plug the information into a model that predicts the mechanical properties of the printed component. By taking temperature and spot size measurements, the team can also ensure they are, “accurately controlling energy density, the power of both the laser and the hot wire that goes into the process,” Adams said.. “All of that is happening before you actually try to do any kind of machine learning or artificial neural networks with the robot itself. That's just to try to train the models to the point where we have confidence in the models,” Adams said. Sounds easy, right? But one key problem could come in cleaning up the data and removing excess noise from the measurements. “Thermal measurements are pretty easy and not data intensive, but when you start looking at optical measurements you can collect just an enormous amount of data that is difficult to manage,” Adams explained. Lockheed Martin wants to learn how shrink the size of that dataset without sacrificing key parameters. The Colorado School of Mines and America Makes will tackle the problem of compressing and manipulating this data to extract the key information needed to train the algorithms. After this work has been completed, the algorithms then will be sent to Oak Ridge National Laboratory, where robots will begin producing 3-D titanium parts and learn how to reliably construct geometrically and structurally sound parts. This portion of the program will confront challenges from the additive manufacturing and AI components of the project. On the additive manufacturing side, the team will work with new manufacturing process, “trying to understand exactly what the primary, secondary and tertiary interactions are between all those different process parameters,” Adams said. “If you think about it, as you are building the part depending on the geometric complexity, now those interactions change based on the path the robot has to take to manufacture that part. One of the biggest challenges is going to be to understand exactly which of those parameters are the primary, which are the tertiary and to what level of control we need to be able to manipulate or control those process parameters in order to generate the confidence in the parts that we want.” At the same time, researchers also will tackle AI machine learning challenges. Like with other AI programs, it's crucial the algorithm is learning the right information, the right way. The models will give the algorithms a good starting point, but Adams said this will be an iterative process that depends on the algorithm's ability to self-correct. “At some point, there are some inaccuracies that could come into that model,” Adams explained. “So now, the system itself has to understand it may be getting into a regime that is not going to produce the mechanical properties or microstructures that you want, and be able to self-correct to make certain that instead of going into that regime it goes into a regime that produces the geometric part that you want.” With a complete algorithm that can be trusted to produce structurally sound 3-D printed parts, time-consuming post-production inspections will become a thing of the past. Instead of nondestructive inspections and evaluations, if you “have enough control on the process, enough in situ measurements, enough models to show that that process and the robot performed exactly as you thought it would, and produced a part that you know what its capabilities are going to be, you can immediately deploy that part,” said Adams. “That's the end game, that's what we're trying to get to, is to build the quality into the part instead of inspecting it in afterwards." Confidence in 3-D printed parts could have dramatic consequences for soldiers are across the services. As opposed to waiting for replacement parts, service members could readily search a database of components, find the part they need and have a replacement they can trust in hours rather than days or weeks. “When you can trust a robotic system to make a quality part, that opens the door to who can build usable parts and where you build them,” said Zach Loftus, Lockheed Martin Fellow for additive manufacturing. “Think about sustainment and how a maintainer can print a replacement part at sea, or a mechanic print a replacement part for a truck deep in the desert. This takes 3-D printing to the next, big step of deployment.” https://www.c4isrnet.com/industry/2018/10/15/how-the-office-of-naval-research-hopes-to-revolutionize-manufacturing

  • Canadian frigate delayed again

    16 octobre 2018 | Local, Naval

    Canadian frigate delayed again

    Ian Keddie, Toronto - IHS Jane's Defence Weekly A long-awaited decision on the Canadian Surface Combatant (CSC) frigate replacement programme has been delayed once more, although it is unclear for how long. In the official Public Services and Procurement Canada (PSPC) update document released on 27 September, PSPC indicated no CSC design would be chosen in third quarter 2018, after indicating to Jane's in May 2018 that a decision would be made at that time. In the update document, ‘The National Shipbuilding Strategy in 2018,' which outlines the state of the federal shipbuilding plan, the PSPC said, “Request for Proposals to select the Canadian Surface Combatant (CSC) design and design team has closed. https://www.janes.com/article/83808/canadian-frigate-delayed-again

  • General Dynamics Griffin Takes Lead To Replace M2 Bradley

    16 octobre 2018 | International, Terrestre

    General Dynamics Griffin Takes Lead To Replace M2 Bradley

    By SYDNEY J. FREEDBERG JR. BAE System's CV90 Mark IV is the latest upgrade of a 25-year-old vehicle widely used in Europe; the Rheinmetall-Raytheon Lynx is an all-new design, although individual components have a good track record; but the General Dynamics Griffin III is in the middle, combining a new gun and new electronics with the time-tested chassis from the European ASCOD family. AUSA: General Dynamics looks like the early favorite to replace the Army's 1980s-vintage M2 Bradley troop carrier. That's my personal assessment after talking at length to officers and contractors at last week's Association of the US Army conference, where months of uncertainty finally gave way to some real clarity about both what the Army wants and what industry can offer. In brief, GD's Griffin III demonstrator seems to hit the sweet spot between innovative and proven technologies that the Army wants to start fielding a Next Generation Combat Vehicle (NGCV) as soon as 2026. Of the three vehicles on display at AUSA, BAE System's CV90 Mark IV is the latest upgrade of a 25-year-old vehicle widely used in Europe; the Rheinmetall-Raytheon Lynx is an all-new design, although individual components have a good track record; but the General Dynamics Griffin III is in the middle, combining a new gun and new electronics with the time-tested chassis from the European ASCOD family. The competitors do have a lot in common. All offer tracked vehicles with diesel engines — even BAE, which once touted its hybrid-electric drives as a key selling point. All three boast open-architecture electronics to ease future upgrades, an integrated Active Protection System to shoot down incoming anti-tank warheads, modular armor that can be layered on or stripped down depending on the mission, and a turret capable of mounting a 50 mm gun, the Army's preferred caliber. Only the Griffin actually has a 50mm installed right now, however. The others currently have 35mm cannon. It's also the only vehicle that can point its gun almost straight up, at an 85 degree angle, to hit rooftop targets in urban combat, something the Army has worried about extensively. Details like this suggest that General Dynamics has been listening more closely to the Army than its competitors. In fact, even where the Griffin III underperforms its competitors, most notably by carrying fewer infantry, it does so in areas where the Army is willing to make tradeoffs. The End of the Beginning Now, it's still early in the NGCV race. While we only saw three contenders on the floor at AUSA, it's still entirely possible a fourth player could jump in. My money's on the team of SAIC and Singapore-based STK, which is already offering a modified Singaporean army vehicle for the US Army's Mobile Protected Firepower (MPF) light tank. The other MPF competitors are BAE, with an update of the Armored Gun Systemcancelled in 1996, and GD, offering a version of the Griffin. By November, the Army will award two of the three companies contracts to build prototypes. If either GD or the SAIC-ST team wins, they'll have at least a slight advantage for NGCV, since buying related vehicles for both roles will simplify training, maintenance, and supply. (BAE's AGS is totally unrelated to its CV90, so an MPF win wouldn't help it on NGCV). By contrast to MPF, the competition for NGCV is only at the end of the beginning, not the beginning of the end. The Army's still refining its requirements, in part based on discussions with industry at AUSA. What's the timeline? Col. James Schirmer, the program manager, said at the conference that “we are within weeks of having that requirement finalized.” Brig. Gen. Richard Ross Coffman, the Army's director of armored vehicle modernization, said a formal Request For Proposal (RFP) based on those requirements will come out no later than January. So there'll be time for the competitors to revise their NGCV designs before submitting them. Even after that, more than one company will get a contract to build prototypes for Army testing. What's the objective that drives both this pace and the technological tradeoffs the Army is willing to make? Fielding the first operational unit in 2026 — nine years earlier than the original plan — to help deter Russian aggression. Deadline 2026 “All options are on the table, but the schedule will be the schedule,” Brig. Gen. Coffman told reporters at AUSA. “We would like to field this vehicle by 2026.” “If someone could develop a clean sheet design that could meet that timeline,” he said, “it'd be great, but I don't know that's doable.” (By contrast, the potential replacement for the M1 Abrams tank is coming later, so the service is looking for radical innovation). Schirmer offered more specifics. “We have a pretty challenging test schedule... very similar to MPF, (so) we really can't afford a clean sheet design,” he said. The more mature the component technologies, the better, he said, but what's best is that those individual components have been proven as an integrated system. Specifically, Schirmer said, “for the Bradley replacement, we are going to be buying vehicles that are based on a mature architecture — powertrain, track, suspension — that's already in service somewhere in the world.” While these remarks leave the door open for the Lynx, or at least ajar, they're not particularly encouraging. By contrast, the CV90 series entered service with Sweden in 1993, with variants now serving in Denmark, Estonia, Finland, Holland, Norway, and Switzerland. The Griffin III is the latest member of the ASCOD family — the Spanish Pizzaro, Austrian Ulan, and British Ajax — which debuted in Spain in 2002. While the Army wants a proven hull, however, Schirmer says there is one area where technology is advancing fast enough for it be worth taking some risk: lethality, i.e. the gun and sensors. In particular, while the Bradley has a 25mm chaingun, the Army really wants NGCV to have a 50mm cannon — firing shells about four times as big — that's now in development at the service's Ammunition Research, Development, & Engineering Center (ARDEC). That gun, the XM913, is currently integrated on just one competitor, the Griffin, although both the Lynx and CV90 turrets could accommodate it. All three vehicles, like the Bradley, also have room in the turret to mount anti-tank missiles of various types. The Griffin on the show floor also mounts a launcher for AeroVironment Shrike mini-drones, while the Lynx will have the option to launch Raytheon's Coyote: Both mini-drones can be configured either with sensors to scout or with warheads to destroy. Even on weaponry, however, the Army is willing to make compromises to speed fielding, just as it introduced the original M1 Abrams with a 105 mm gun but with room to upgrade to the desired 120mm when it was ready a few years later. For NGCV, Schirmer said, they want the vehicle to have the 50mm gun eventually but “may settle on the 30 in the near term, just to meet schedule.” Armor & Passengers Besides gun caliber, the other easily measured aspect of an armored vehicle is its weight, which is very much a two-edged sword. There's been no breakthrough in armor materials since the 1980s and none on the horizon, so the only way to get better armor is to make it thicker. So a heavier vehicle is probably better protected, but it also burns more fuel, wears out more spare parts, and has more trouble getting places: Bridges and transport aircraft in particular can only take so much weight. Full article: https://breakingdefense.com/2018/10/general-dynamics-griffin-takes-lead-to-replace-m2-bradley

  • CAE releases its first Business Jet Pilot Demand Outlook: 50,000 new business jet pilots required over the next 10 years

    16 octobre 2018 | Local, Aérospatial

    CAE releases its first Business Jet Pilot Demand Outlook: 50,000 new business jet pilots required over the next 10 years

    CAE released today at the 2018 National Business Aviation Association (NBAA) convention and exhibition its 2018 CAE Airline and Business Jet Pilot Demand Outlook. This is an update to last year's report, which provides, for the first time, a business jet pilot demand forecast. The renewed 10-year view offers fleet operators key insights on the future need for professional pilots in both business and commercial aviation, building on the markets' key drivers, variables and trends. The report demonstrates that the active business jet pilot population will reach 65,000 by 2028, which represents an increase of 18%, with a turnover rate of almost 100%. More specifically, 10,000 new business jet pilots will be required to sustain growth and 40,000 new business jet pilots will be needed to support retirement attrition across the segment over the next decade. “The CAE Airline and Business Jet Pilot Demand is a one-of-a kind report. Our 2018 update builds on last year's analysis while introducing for the first time a business jet pilot forecast and shedding light on ways the aviation industry can cope with this demand,” said Marc Parent, CAE's President and Chief Executive Officer. “Today's soaring pilot demand is a reality that we must all face. As the leading training organization in the world, we are honoured to offer our partners the training solutions they need to face this rising demand.” The 2018 CAE Airline and Business Jet Pilot Demand Outlook is available for download at www.cae.com/civil-aviation. https://www.cae.com/news-events/press-releases/cae-releases-its-first-business-jet-pilot-demand-outlook-50000-new-business-jet-pilots-required-over-the-next-10-years

  • U.S. Navy extends sustainment and support contract with Rockwell Collins for F/A-18 avionics displays

    16 octobre 2018 | International, Aérospatial

    U.S. Navy extends sustainment and support contract with Rockwell Collins for F/A-18 avionics displays

    Navy experiencing 99 percent availability rates as a result of the program demonstrates success of Public Private Partnership between Rockwell Collins and U.S. Navy Depots CEDAR RAPIDS, Iowa (Oct. 16, 2018) – Rockwell Collins and the U.S. Navy Naval Supply Systems Command Weapon Systems Support (NAVSUP WSS) have renewed an agreement for continued support on avionics displays for the Navy's F/A-18 fleet of over 1,200 aircraft. The contract is a four-year extension of the performance-based logistics (PBL) contract which started more than 15 years ago. To date, the existing PBL agreement with Rockwell Collins has provided the Navy with over 99 percent availability rates, eliminated all backorders on parts since 2005 and performed a turnaround time of less than 48 hours for most replacement hardware. As part of the initial program, a public-private partnership was established. The partnership creates shared industry and government incentives and allows the government to perform work at two Navy depot locations. Today, more than 60 percent of the work is completed through these depot partnerships. Additionally, Rockwell Collins provides obsolescence and configuration management, engineering support and program management. These capabilities facilitate proactive management of Rockwell Collins equipment installed on the aircraft, enabling mission readiness. “The longstanding relationship we have with NAVSUP WSS and Navy repair depots has been crucial in the success of this program,” said Aaron Maue, senior director, Government Service Solutions for Rockwell Collins. “As we move forward, we'll continue to work together to optimize results and deliver the long-term value that PBLs provide.” Rockwell Collins has over 20 years of experience in PBL contracting with a 100 percent program renewal rate. The company's proven track record in PBL contracts has shown they improve reliability and readiness, and by integrating the logistics chain, significant results for performance can be achieved. About Rockwell Collins Rockwell Collins (NYSE: COL) is a leader in aviation and high-integrity solutions for commercial and military customers around the world. Every day we help pilots safely and reliably navigate to the far corners of the earth; keep warfighters aware and informed in battle; deliver millions of messages for airlines and airports; and help passengers stay connected and comfortable throughout their journey. As experts in flight deck avionics, cabin electronics, cabin interiors, information management, mission communications, and simulation and training, we offer a comprehensive portfolio of products and services that can transform our customers' futures. To find out more, please visit www.rockwellcollins.com. https://www.rockwellcollins.com/Data/News/2018-Cal-Yr/GS/20181016-US-Navy-extends-sustainment-support-contract-F-18-avionics.aspx

  • GE and ATEC Vying for U.S. Army Helicopter Engine Program

    16 octobre 2018 | International, Aérospatial

    GE and ATEC Vying for U.S. Army Helicopter Engine Program

    General Electric [GE] and Advanced Turbine Engine Company (ATEC) touted the capabilities of their respective engines in the quest by the U.S. Army to find new engines for the AH-64 Apache and UH-60 Black Hawk fleets under the Improved Turbine Engine Program (ITEP).ATEC... http://www.defensedaily.com/ge-atec-running-hot-us-army-helicopter-engine-upgrades/

  • Contract Awards by US Department of Defense - October 15, 2018

    16 octobre 2018 | International, Naval, Terrestre, C4ISR

    Contract Awards by US Department of Defense - October 15, 2018

    ARMY Absolute Business Solutions Inc., Herndon, Virginia (W911QY-19-D-0001); Data Systems Analysts Inc., Feasterville Trevose, Pennsylvania (W911QY-19-D-0002); DCS Corp., Alexandria, Virginia (W911QY-19-D-0003); HII Mission Driven Innovative Solutions Inc., Huntsville, Alabama (W911QY-19-D-0004); Integrity Consulting Engineering and Security Solutions,* Purcellville, Virginia (W911QY-19-D-0005); Interactive Process Technology LLC, Billerica, Massachusetts (W911QY-19-D-0006); Joint Research and Development Inc.,* Stafford, Virginia (W911QY-19-D-0007); Kalman and Company Inc., Virginia Beach, Virginia (W911QY-19-D-0008); MLT Systems LLC,* Stafford, Virginia (W911QY-19-D-0009); Mustang Gray LLC,* Stafford, Virginia (W911QY-19-D-0010); Patricio Enterprises Inc., Stafford, Virginia (W911QY-19-D-0011); and Whitney, Bradley & Brown Inc., Reston, Virginia (W911QY-19-D-0012), will share in a $249,000,000 firm-fixed-price contract for providing resources in support of the Joint Program Executive Office for Chemical and Biological Defense. Bids were solicited via the internet with 21 received. Work locations and funding will be determined with each order, with an estimated completion date of Oct. 14, 2023. U.S. Army Contracting Command, Aberdeen Proving Ground, Maryland, is the contracting activity. NAVY Dyncorp International LLC, Fort Worth, Texas, is awarded a $152,247,409 firm-fixed-price, cost reimbursable, indefinite-delivery/indefinite-quantity contract. This contract provides for logistics support services and material for the organizational and depot level maintenance of approximately 118 TH-57 aircraft. Work will be performed in Milton, Florida, and is expected to be completed in November 2022. No funds will be obligated at time of award. Funds will be obligated on individual task orders as they are issued. This contract was competitively procured via an electronic request for proposal, with two offers received. The Naval Air Warfare Center Training Systems Division, Orlando, Florida, is the contracting activity (N61340-19-D-0905). WR Systems Ltd., Norfolk, Virginia, is awarded a $49,999,996 indefinite-delivery/indefinite-quantity, performance-based contract with provisions for cost-plus-fixed-fee and firm-fixed-price task orders. The contract is for the procurement of positioning, navigation and timing engineering and in-service engineering agency support services. The services required include design development, systems integration, acquisition and prototype engineering, technical documentation, and integrated logistic support in order to support the Integrated Product Team. Work will be performed in Norfolk, Virginia, and is expected to be completed by October 2020. Fiscal 2018 other procurement (Navy) funds in the amount of $1,200 are obligated at the time of award and will not expire at the end of the current fiscal year. This contract was not competitively procured because this is a sole-source acquisition pursuant to the authority of 10 U.S. Code 2304(c)(1), one source or limited sources (Federal Acquisition Regulation 6.302-1(a)(2)(iii)(B)). Space and Naval Warfare Systems Center Atlantic, Charleston, South Carolina, is the contracting activity (N6523619D8001). The Boeing Co., St. Louis, Missouri, is awarded $24,400,000 for cost plus-incentive-fee delivery order N0001918F2046 against a previously issued basic ordering agreement (N00019-16-G-0001). This order provides for Airborne Electronic Attack (AEA) System enhancements to the ALQ-218 receiver system hardware and communication lines between assemblies to accommodate future planned functional growth and enhancements. Thirteen sets of WRA-7, WRA-8, WRA-9, and 18 AEA gun bay pallets will be modified and the associated technical directives will be written in support of the Navy and the government of Australia. Work will be performed in Baltimore, Maryland (31 percent); St. Louis, Missouri (23 percent); St. Augustine, Florida (15 percent); Bethpage, New York (11 percent); Patuxent River, Maryland (10 percent); and China Lake, California (10 percent), and is expected to be completed in December 2020. Fiscal 2018 aircraft procurement (Navy); and foreign military sales funds in the amount of $24,400,000 will be obligated at time of award, none of which will expire at the end of the current fiscal year. This delivery order combines purchases for the Navy ($23,157,457; 95 percent); and the government of Australia ($1,242,543; 5 percent). The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity. Electric Boat Corp., Groton, Connecticut, is awarded a $14,718,840 cost-plus-fixed-fee contract for the Next Generation Submarine Science and Technology Research. This contract contains options, which if exercised, would increase the contract value to $39,661,906. Work will be performed in Groton, Connecticut, and work is expected to be completed by Oct. 14, 2019. If options are exercised, work will continue through October 2023. Fiscal 2018 research, development, test and evaluation (Navy) funds in the amount $10,000 will be obligated at the time of award. No funds will expire at the end of the current fiscal year. This contract was competitively procured under N00014-18-S-B001 “Long Range Broad Agency Announcement (BAA) for Navy and Marine Corps Science and Technology.” Proposals will be received throughout the year under the long range BAA, therefore, the number of proposals received in response to the solicitation is unknown. The Office of Naval Research, Arlington, Virginia, is the contracting activity (N00014-19-C-1002). DEFENSE INFORMATION SYSTEMS AGENCY Southwind Construction Services LLC, Edmond, Oklahoma, was awarded a competitive firm-fixed-price contract for the installation of raised floor and high density cooling and power upgrade at the Oklahoma City, Oklahoma data center. The face value of this action is $9,177,535 funded by fiscal 2018 and 2019 capital funds. Performance will be at Data Center Oklahoma City, Tinker Air Force Base, Oklahoma. Proposals were solicited via the Federal Business Opportunity website and three proposals were received. The period of performance is 365 days after contract award (estimated period of performance is Oct. 22, 2018 - Oct. 21, 2019). The Defense Information Technology Contracting Organization, Scott AFB, Illinois, is the contracting activity (HC102819C0001). *Small Business https://dod.defense.gov/News/Contracts/Contract-View/Article/1662895/source/GovDelivery/

  • TransDigm to Acquire Esterline Technologies in $4 Billion All Cash Transaction

    16 octobre 2018 | International, Aérospatial

    TransDigm to Acquire Esterline Technologies in $4 Billion All Cash Transaction

    CLEVELAND, OH and BELLEVUE, WA., October 10, 2018 /PRNewswire/GlobeNewswire -- TransDigm Group Incorporated (NYSE: TDG) and Esterline Technologies Corporation (NYSE:ESL) announced today that they have entered into a definitive agreement under which TransDigm will purchase all of the outstanding shares of common stock of Esterline for $122.50 per share in cash, which represents a premium of 38% to Esterline's closing price on October 9, 2018, or a total transaction value of approximately $4.0 billion including the assumption of debt. The transaction has been approved by the Boards of Directors of both companies. TransDigm expects the acquisition to be financed primarily through cash on hand and the incurrence of new term loans, and currently anticipates the acquisition to be modestly accretive to TransDigm's adjusted earnings per share within the first year of ownership. The acquisition of Esterline expands TransDigm's platform of proprietary and sole source content for the aerospace and defense industries, including significant aftermarket exposure. Headquartered in Bellevue, Washington, Esterline is an industry leader in specialized manufacturing for these sectors with anticipated fiscal year 2018 revenue of approximately $2.0 billion. The company consists of 28 business units organized across eight platforms to deliver specialty aerospace, defense and industrial products. The company employs over 12,500 employees in more than 50 operating locations throughout the world. Esterline has attractive platform positions in both the OEM and aftermarket and has substantial content on many important commercial aircraft variants, many regional and business jet aircraft and major defense platforms. “We are pleased to have reached agreement to acquire a collection of businesses that fit well with our focused and consistent strategy,” stated W. Nicholas Howley, TransDigm's Executive Chairman. “Esterline's core aerospace and defense business consists of primarily proprietary, sole source products with significant and growing aftermarket exposure. We view this as highly complementary to our existing business. We are confident that the combination of Esterline's leading positions and our proven track record of driving performance will enable us to deliver the private equity-like returns our investors have come to expect from this investment." Kevin Stein, TransDigm's President and Chief Executive Officer stated, “We are excited to acquire Esterline's wide range of complementary products and see a path to create significant value for TransDigm shareholders, customers and stakeholders. Upon completion of the transaction, Bob Henderson, TransDigm's current Vice-Chairman, will oversee the integration and operations of Esterline. Mr. Henderson has been a key member of TransDigm's management team for close to 25 years and has overseen the integration of numerous acquisitions during this period, including our recent acquisition of Kirkhill from Esterline.” “Our combination with TransDigm delivers a compelling value for our shareholders,” said Curtis Reusser, Chairman, President and Chief Executive Officer of Esterline. “I am pleased with the outcome of our thoughtful strategic review process, and we believe it is the best result for all Esterline stakeholders. I am very proud of the commitment and focus of our employees to serving the needs of our customers, and I am confident the combined companies will be well positioned to succeed in the global market we serve.” The acquisition will be financed through a combination of existing cash on hand of approximately $2 billion and the incurrence of new term loans. TransDigm has obtained commitments for the full amount of financing required for the transaction. Immediately upon closing, the combined company will maintain the financial flexibility to meet any anticipated operating, acquisition, and other opportunities that may arise though a combination of cash on hand, undrawn revolver, and under certain circumstances, additional availability under its credit agreement. The transaction is subject to customary closing conditions, including Esterline stockholder approval and the receipt of required regulatory approvals. The companies expect to complete the transaction in the second half of calendar 2019. Advisors Morgan Stanley & Co. LLC acted as financial advisor to TransDigm. Wachtell, Lipton, Rosen & Katz and Baker & Hostetler LLP acted as TransDigm's lead legal counsel. Goldman Sachs & Co. LLC acted as financial advisor to Esterline and Evercore Group L.L.C. served as advisor to Esterline's Board of Directors. Skadden, Arps, Slate, Meagher & Flom served as legal counsel to Esterline. Conference Call TransDigm will hold a conference call to discuss this announcement beginning at 10:45 a.m. ET Wednesday, October 10. To join the call, dial (888) 558-9538 and enter the passcode 5278399. International callers should dial (760) 666-3183 and use the same passcode. A slideshow accompanying the presentation will be posted to http://www.transdigm.com prior to the call. A telephone replay will be available for one week by dialing (855) 859-2056 and entering the pass code 5278399. International callers should dial (404) 537-3406 and use the same passcode. About TransDigm Group TransDigm Group Incorporated, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, NiCad batteries and chargers, engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, specialized cockpit displays, aircraft audio systems, specialized lavatory components, seatbelts and safety restraints, engineered interior surfaces and related components, lighting and control technology, military personnel parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems. About Esterline Esterline Corporation is a leading worldwide supplier to the aerospace and defense industry specializing in three core business segments: Advanced Materials; Avionics & Controls; and Sensors & Systems. Operations within the Advanced Materials segment focus on technologies including high-temperature-resistant materials and components used for a wide range of military and commercial aerospace purposes, and combustible ordinance and electronic warfare countermeasure products. Operations within the Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, integrated cockpit systems, display technologies for avionics, training and simulation markets, secure communications systems, specialized medical equipment, and other high-end industrial applications. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, specialized harsh-environment connectors, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. Forward-Looking Statements Statements in this press release which are not historic facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to expectations of Esterline's future performance, profitability, growth and earnings; expectations of TransDigm's earnings per share and the financial impact of the proposed transaction; the financing of the proposed transaction; and the timing of the proposed transaction. All statements other than statements of historical fact that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements, including, in particular, statements about our plans, objectives, strategies and prospects regarding, among other things, the acquired business. We have identified some of these forward-looking statements with words like "believe," "may," "will," "should," "expect," "intend," "plan," predict," "anticipate," "estimate" or "continue" and other words and terms of similar meaning. All forward-looking statements involve risks and uncertainties which could affect TransDigm's actual results and could cause its actual results or the benefits of the proposed transaction to differ materially from those expressed in any forward-looking statements made by, or on behalf of TransDigm. These risks and uncertainties include, but are not limited to, closing conditions to the proposed transaction may not be achieved, the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, the effect of the announcement or pendency of the proposed transaction on the TransDigm's and Esterline's business relationships, operating results and business generally, risks related to diverting management's attention from ongoing business operations, the outcome of any legal proceedings that may be instituted related to the Merger Agreement or the proposed transaction, unexpected costs, charges or expenses resulting from the proposed transaction, Esterline's actual financial results for the year ended September 28, 2018 may differ from expected results, TransDigm may have difficulty obtaining required approvals, TransDigm may have difficulty implementing its strategic value drivers, and TransDigm may be impacted by the effects of general economic and industry conditions. Except as required by law, TransDigm undertakes no obligation to revise or update the forward-looking information contained in this press release. Additional Information and Where to Find It This communication is being made in respect of the proposed transaction involving Transdigm and Esterline. In connection with the proposed transaction, Esterline intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a preliminary proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, Esterline will mail the definitive proxy statement and a proxy card to each stockholder of Esterline entitled to vote at the stockholder meeting relating to the proposed transaction. This communication is not a substitute for the proxy statement or any other document that Esterline may file with the SEC or send to its stockholders in connection with the proposed transaction. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF ESTERLINE ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT ESTERLINE WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ESTERLINE AND THE PROPOSED TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the proposed transaction (when they become available), and any other documents filed by Esterline with the SEC, may be obtained free of charge at the SEC's website (http://www.sec.gov) or at Esterline's website (http://www.esterline.com/) or by contacting Esterline's Investor Relations at 500 108th Avenue NE, Suite 1500, Bellevue, Washington 98004, or by calling (425) 453-9400. Participants in the Solicitation Esterline and TransDigm and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Esterline's stockholders with respect to the proposed transaction. Information about Esterline's directors and executive officers and their ownership of Esterline's common stock is set forth in its proxy statement for its 2018 Annual Meeting of Stockholders which was filed with the SEC on December 27, 2017, and its Annual Report on Form 10-K for the fiscal year ended September 29, 2017, which was filed with the SEC on November 21, 2017, and the Amendment No. 1 on Form 10-K/A, which was filed with the SEC on March 30, 2018. Information about TransDigm's directors and executive officers is set forth in its proxy statement for its 2018 Annual Meeting of Stockholders and its most recent Annual Report on Form 10-K. These documents may be obtained for free at the SEC's website at www.sec.gov. Additional information regarding the potential participants, and their direct or indirect interests in the proposed transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with SEC in connection with the proposed transaction. Contact: TransDigm Esterline Liza Sabol John Hobbs Director of Investor Relations Sr. Director, Investor Relations (216) 706-2945 (425) 453-9400 ir@transdigm.com https://www.esterline.com/Newsnbsp;PressCenter/EntryId/6232/TransDigm-to-Acquire-Esterline-Technologies-in-4-Billion-All-Cash-Transaction.aspx

  • TRU and FlightSafety International Announce a Joint Venture to Offer a Combined Training Solution on Textron Aviation Platforms

    16 octobre 2018 | Local, Aérospatial

    TRU and FlightSafety International Announce a Joint Venture to Offer a Combined Training Solution on Textron Aviation Platforms

    Goose Creek, S.C. —October 15, 2018— TRU Simulation + Training, a Textron Inc. (NYSE: TXT) company, and FlightSafety International have entered into a letter of intent to form a joint venture to provide the industry-leading training solution for Textron Aviation‘s broad product line of business and general aviation aircraft. TRU and FlightSafety will combine their assets and capabilities, including their simulators, courseware, and world-class teams, to support their global customers' training needs. “The combination of our training capabilities will enable us to provide best-in-class pilot and maintenance training programs to our customers around the world,” said David Davenport, Co-CEO and President, Commercial, FlightSafety International. “For more than 40 years FlightSafety has served Textron Aviation customers, and this venture will allow us to offer more flexible training options leveraging the capabilities of both organizations. We also want to recognize Bruce Whitman's significant contributions. He was instrumental in the initial planning and actively participated in the development of this important agreement. As always, Bruce's focus was to ensure that the joint venture would benefit our customers and enhance the training they receive.” “The new joint venture will enhance our ability to service our growing customer base,” said Gunnar Kleveland, president of TRU Simulation + Training Inc. “With Textron Aviation continuing to expand its product portfolio with aircraft such as the Latitude, Longitude, Hemisphere, Denali and SkyCourier, it is critical we provide the full scope of training services our customers require. This joint venture will allow us to better address that demand.” TRU will serve as the exclusive supplier of new Textron Aviation simulators to the joint venture. TRU will also continue its other operations, including the design and manufacture of training simulators and provide training solutions for the global aviation industry and military customers. The transaction is expected to close in the next several months, subject to finalizing definitive documentation and regulatory approval. https://www.trusimulation.com/news/10-15-2018/tru-and-flightsafety-international-announce-joint-venture-offer-combined-training-solution-textron

Partagé par les membres

  • Partager une nouvelle avec la communauté

    C'est très simple, il suffit de copier/coller le lien dans le champ ci-dessous.

Abonnez-vous à l'infolettre

pour ne manquer aucune nouvelle de l'industrie

Vous pourrez personnaliser vos abonnements dans le courriel de confirmation.