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Category: Investment Security

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Spain, Luxembourg Join NATO Project to Provide Alliance With Satcom Support

Spain and Luxembourg will join the United States, the United Kingdom, France and Italy in a collaborative effort to provide NATO with satellite communications services. Starting in 2025, Madrid and Luxembourg will start working on the NATO Satcom Services 6th Generation project, a $1.07 billion program designed to meet the alliance’s military satcom requirements through...

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Former US Secnav Richard Spencer to Replace John Rothwell as Austal Chairman

Richard Spencer, former U.S. secretary of the Navy, has been selected to replace John Rothwell as chairman of Perth, Australia-based Austal. Rothwell will step down on Monday after nearly four decades in the role. As Austal’s new chair, Spencer said he will build on Rothwell’s yearslong work, which enabled the company to achieve its current...

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Safran, MTU to Develop New Engine for Europe’s Future Military Helicopter

France’s Safran Helicopter Engines said it has established a joint venture with German manufacturer MTU Aero Engines to develop an engine for the next generation of European military helicopters. Called European Military Rotorcraft Engine Alliance, or EURA, the joint venture will operate from France and will be managed by a CEO to be selected from...

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Tiziana Cotugno to Lead L3Harris Europe as Company’s Regional Expansion Advances; Dave Johnson Quoted

L3Harris Technologies has announced the appointment of Tiziana Cotugno as head of L3Harris Europe. She will be based in Rome to oversee the L3Harris European advisory board composed of directors and regional business leaders.  The company announced the opening of the new L3Harris office in the Italian capital as part of its European expansion to...

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BAE Systems Expects Increased AMPV Orders From Army, Foreign Governments; Bill Sheehy Quoted

BAE Systems is looking to expand Armored Multi-Purpose Vehicle production capabilities as it expects new orders from the United States and potential new customers. At Eurosatory 2024 in June, William “Bill” Sheehy, program director for AMPV at BAE Systems, told reporters that the company already plans to produce 220 AMPVs at its York factory annually....

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US, Canada Host Joint Exercise on Supply Chain Disruption Management

The United States and Canada showed commitment to ensuring seamless movement of goods along their borders with the staging of an exercise on supply chain disruption. Held in early June and hosted by the Department of Homeland Security’s Supply Chain and Resilience Center, the Department of Transportation and Transport Canada, the joint drill featured a...

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Leonardo’s Southern Italy Facility to Pause Boeing 787 Production, Begin AW609 Tiltrotor Assembly

Leonardo has selected the site for the final assembly of its AW609 tiltrotor aircraft in Italy.  On Monday, the company met with trade union representatives to share the next steps in its Grottaglie production site diversification plan.  The Grottaglie plant located near Taranto, Puglia, in southern Italy was originally built for the production of Boeing...

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Thales Seeks Further Growth in UAE With Another Edge Group Partnership; Christophe Salomon Quoted

Thales and Katim, an entity under Edge Group, have signed a letter of intent to explore the possibility of jointly developing software-defined radio technologies in the United Arab Emirates. Under the agreement, signed during the recent Eurosatory defense and security show in Paris, Thales and Katim will collaborate on the development, manufacturing and maintenance of...

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Safran Bids to Purchase Preligens to Boost AI Capabilities; Olivier Andries Quoted

Safran is negotiating to fully acquire Preligens, a geospatial company focused on artificial intelligence for defense and aerospace, for $236.2 million. Established in 2016, the Paris-based Preligens generated $30 million in sales in 2023. The company has about 220 employees, with 140 engineers assigned to research and development. Its product portfolio delivers high-end imagery, video...

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Treasury Seeking Comments on Proposal to Prohibit Tech-Related Deals in Countries of Concern

The Department of the Treasury is soliciting comments on its proposed regulations addressing potential national security issues posed by U.S. investments in locations deemed countries of concern under an executive order on national security technologies and products. The Treasury issued a notice of proposed rulemaking in compliance with Executive Order 14105, under which the department...

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