Intel and New York-based private equity firm Apollo Global Management have entered a co-investment program to fund the chipmaker’s silicon wafer manufacturing plant in Ireland. According to the companies’ statement, Apollo-managed funds and affiliates will invest $11 billion to acquire 49 percent of the Irish plant’s equity, with Intel holding the 51 percent controlling interest...
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Category: Europe
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Rheinmetall to Build Ammunition Plant in Lithuania With Potential New Incentives; Ausrine Armonaite Quoted
Germany-based defense company Rheinmetall has signed a memorandum of understanding to build an ammunition plant in Lithuania. The Baltic country has declared the project of state importance and is receiving new incentives from the Lithuanian Ministry of the Economy and Innovation, led by Minister Ausrine Armonaite. The planned incentives include legal amendments to simplify site...
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Kongsberg Signs $141M USAF Deal to Deliver F-35 Joint Strike Missiles
Kongsberg Defence & Aerospace has signed a $141 million contract with the U.S. Air Force to supply Joint Strike Missiles for the service’s F-35A fighters. Under the agreement, the Norwegian company will produce the air-to-air missiles and supply USAF with all up rounds, containers and test equipment. In a statement, Kongsberg confirmed the deal, noting...
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Treasury Department Designates Iranian Entities, Executive Involved in Drone Parts Procurement; Brian Nelson Quoted
The Department of the Treasury’s Office of Foreign Assets Control has sanctioned four Iranian entities and an executive for enabling the production of components for Iran‘s unmanned aerial vehicle program. Brian Nelson, undersecretary of the treasury for terrorism and financial intelligence, said the restrictive measures, including blocking of assets, aim to “disrupt Iran’s production and...
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Saab Delivers Bolide-Type Missiles for Lithuania’s Aircraft Defense System
Swedish company Saab Dynamics has delivered Bolide missiles for Lithuania’s RBS-70 aircraft defense system. The Lithuanian Ministry of National Defence, which confirmed receiving the weapons system on Friday, said the Bolide-type missiles, valued at around $16.2 million, will improve the country’s air defense efficiency. The system boasts easy maintenance, mobility and resilience to electromagnetic jamming,...
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European Union Invests in ‘Bodyguard’ Satellite That Can Shoot Lasers at Space Threats
The European Defence Fund plans to deploy a satellite that could detect and counter enemy spacecraft. The European Commission announced a $7 million investment for the project, called Autonomous Space Situational Awareness Bodyguard Onboard Satellite. According to the EDF’s two-page fact sheet, the planned satellite will be capable of finding “weak points of the threat...
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Space Engine Systems Wins Spot in $1.27B Program to Develop UK’s Hypersonic Capabilities
Space Engine Systems has secured a spot in a $1.27 billion program designed to develop the United Kingdom’s first hypersonic missile. Following its selection, the Edmonton-based aerospace company will be eligible to compete for contracts under Defence Equipment & Support’s Hypersonic Technologies and Capability Development Framework agreement. The framework will accelerate the development of the...
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US OKs Austria’s $1.05B Purchase of Black Hawk Helicopters
The U.S. Department of State has approved a possible foreign military sale of 12 UH-60M Black Hawk helicopters to the government of Austria for an estimated $1.05 billion. Lockheed Martin subsidiary Sikorsky, the UH-60M’s manufacturer, will serve as the principal contractor for the proposed purchase. The Black Hawk is a multi-mission aircraft that can perform...
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Sweden Secures US Approval to Purchase 12 Black Hawk Helicopters
Sweden has secured clearance from the United States to acquire 12 Black Hawk helicopters for approximately $900 million. The Department of State green-lighted Stockholm’s procurement request, which also includes the necessary components, equipment and other elements of logistics and program support to operate and maintain the combat aircraft. According to the Defense Security Cooperation Agency,...
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Idemia Joins European Consortium to Develop Quantum-Safe Data Protection Tech; Marc Bertin Quoted
Idemia Secure Transactions has joined a European consortium to design a technology that will protect sensitive data from potential quantum-enabled breaches. The Hyperform consortium, jointly supported by France and the European Union, will advance the region’s goal of creating a sovereign capability for post-quantum cryptography. According to Idemia Chief Technology Officer Marc Bertin, the collaborative...