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Italy's Leonardo seeks partner who can buy its automation business

Italy's Leonardo is seeking a partner who could acquire its Genoa-based automation division in the future, while ensuring long-term competitiveness of the business, the defence group said on Thursday.

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Factbox-U.S. Treasury updates list of Chinese entities hit by investment ban

The U.S. Treasury Department is updating a government list of Chinese companies and entities with alleged ties to defense or surveillance technology sectors, making them subject to a U.S. investment ban.

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Lockheed aims to produce 169 F-35 fighter jets in 2022

Lockheed Martin Corp aims to produce and deliver about 169 F-35 fighter jets in 2022, the U.S. weapons maker said on Wednesday at a conference hosted by brokerage Bernstein.

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BRIEF-Malaysia says 12 manufacturing sectors to run at 60% staffing in lockdown

- MALAYSIA SAYS ALL MANUFACTURING SECTORS TO BE CLOSED DURING TOTAL LOCKDOWN, EXCEPT FOR SELECTED SECTORS LIKE AVIATION MRO, FOOD AND BEVERAGES, CLEANING PRODUCTS

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Bombardier offloads Alstom stake for $608.4 million

Bombardier Inc sold its 3.1% stake in French rail giant Alstom SA for 506.2 million euros ($608.4 million) through a book building process to institutional investors, the Canadian business jet maker said on Tuesday.

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France to sell Egypt 30 fighter jets in $4.5 billion deal: Egyptian defense ministry, report

4 Min Read
PARIS (Reuters) - Egypt has signed a contract with France to buy 30 Rafale fighter jets, its defence ministry said in a statement early on Tuesday, in a deal that investigative website Disclose said on Monday was worth 3.75 billion euro ($4.5 billion).
Slideshow ( 3 images )
President Emmanuel Macron said in December he would not make the sale of weapons to Egypt conditional on human rights because he did not want to weaken Cairo’s ability to counter terrorism in the region, a comment that drew the ire of critics.
Egypt’s defense ministry said the deal would be financed through a loan to be re-paid over at least 10 years, but did not disclose the value of the deal or further details.

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Israel Aerospace signs deal for Boeing 777 cargo conversions in South Korea

By Reuters Staff
1 Min Read
FILE PHOTO: An IAI cargo Boeing 777 flies over Masada during a flyover by IAI (Israel Aerospace Industries) planes on Israel's Independence Day, which marks the 73rd anniversary of the creation of the state, Israel April 15, 2021. REUTERS/Amir Cohen/File Photo
JERUSALEM (Reuters) - Israel Aerospace Industries (IAI) said on Tuesday it plans to open a facility in South Korea’s Incheon International Airport to convert Boeing 777 passenger planes into freighters that will begin work in 2024.
Demand for cargo plane conversions has been on the rise with the increase in ecommerce and the decline in value of used planes during the COVID-19 pandemic.

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General Dynamics revenue up 7% on aerospace

2 Min Read
FILE PHOTO: A General Dynamics NASSCO ship yard entrance is shown in San Diego, California, U.S., June 17, 2019. REUTERS/Mike Blake
(Reuters) -Surging demand for private jets fueled by hopes of economic recovery following mass COVID-19 vaccinations helped lift defense contractor General Dynamics Corp’s revenue in results posted on Wednesday.
Shares rose more than 1% in morning trading to a 14-month high after the Gulfstream jet maker posted a 7% rise in first-quarter revenue as its aerospace unit’s sales picked up.
The company’s business jet deliveries increased to 28 units from 23 a year earlier, amid increased coronavirus inoculations and easing travel restrictions.

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European defence groups in talks to buy stake in Germany's Hensoldt

By Reuters Staff
2 Min Read
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid
FRANKFURT (Reuters) -German military sensor maker Hensoldt said that its largest shareholder, buyout group KKR, is soliciting bids for a 25.1% stake among major European defence contractors.
KKR is in advanced discussions with companies, including France’s Thales and Italy’s Leonardo, Indra of Spain and Sweden’s Saab , Hensoldt said in a statement on Wednesday.
Hensoldt said it had “held discussions regarding their strategic intentions, among other things,” with the suitors.

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UPDATE 2-France, Germany set end-April deadline for elusive deal on new combat jet

(Adds comments by German defence minister)
PARIS, April 20 (Reuters) - French and German defence ministers on Tuesday set a deadline of the end of April to broker a deal over the future of a next-generation combat jet, Europe’s largest defence project.
Earlier this month, the European companies involved in the project concluded talks with an agreement on how to share work on the Future Combat Air System (FCAS), an array of manned and unmanned warplanes backed by France, Germany and Spain.
There are still differences over engine development and intellectual property rights.
“We both think the same thing: we need a deal by the end of April and I am confident we can get there together,” French Armed Forces Minister Florence Parly told a joint news conference after talks in Paris.

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