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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Northrop to Install Bushmaster Chain Guns on Australian Army’s Hanwha Redback IFVs
Northrop Grumman has received a contract to install its Mk44 Bushmaster chain guns on the Australian Army’s Hanwha Redback infantry fighting vehicles. Under the deal, the U.S.-based company will produce 129 units of MK44. Northrop said it will work closely with Hanwha Defense Australia to integrate the chain guns into the IFVs. According to Jennifer...
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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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HII Appoints Executives to Facilitate Efforts Supporting AUKUS Goals
HII Mission Technologies has appointed Tim Brown as vice president of operations for HII Nuclear Australia. In the said role, Brown will lead HII’s efforts supporting Pillar 1 of the trilateral security partnership for the Indo-Pacific region between Australia, the United Kingdom, and the United States. The AUKUS Pillar 1 initiative focuses on helping Australia...
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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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US Marines, UAE Soldiers Share Advanced Military Tactics in Bilateral Exercise
The U.S. Marine Corps has completed a training exercise with an elite military unit from the United Arab Emirates at Camp Pendleton, California. The four-week event saw USMC’s 1st Marine Division work with the UAE Presidential Guard soldiers to build rapport between the participating forces. The troops performed land navigation and infiltration maneuvers, activities that...
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IBM, Rapidus Extend Semiconductor Partnership to Chiplet Packaging Tech; Dario Gil Quoted
Japanese semiconductor company Rapidus and multinational technology firm IBM are expanding their partnership on developing lower-cost, high-performing 2-nanometer semiconductors to include packaging technology for the chiplets. The companies said their expanded collaboration calls for IBM to provide packaging technology to Rapidus for joint efforts on further innovation. The initial partnership agreement, announced in December 2022, calls...
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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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Canada Deploying Three Warships in Indo-Pacific
Canada will deploy navy ships in the Indo-Pacific to promote peace and stability in the region. Minister of National Defence Bill Blair, who announced the Canadian government’s decision at the Shangri-La Dialogue in Singapore, noted that Ottawa’s naval presence in the region will support a free, open and inclusive Indo-Pacific. “This Canadian naval deployment demonstrates that...