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GKN margins squeezed by North America challenges

“GKN PLC (GKN.LN) said Friday that third-quarter margin performance was lower than the comparable period a year earlier, mainly due to program transitions and operational challenges in its Aerospace North America division” writes Dimitrios Kontos for marketwatch.com. The company said that it expects to have to provide for two unexpected claims, which it said were commercially sensitive, and could result in a charge of around 40 million pounds ($52.9 million) in the fourth quarter.The engineering business, which serves the aerospace and automotive markets, said that it expects pretax management profit…

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Honeywell prepares to spin off businesses: Sources

“The sources did not disclose which other assets Honeywell was looking to spin off and asked not to be identified because the deliberations were confidential” reports foxbusiness.com. Analysts have said this deal positions United Technologies to also spin off assets down the line, though no such deal has been announced.Honeywell lists turbochargers as part of its aerospace business. Source: foxbusiness.com Share This:

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WTO to probe Bombardier, spurred by Brazil’s complaints about Canadian subsidies

“The South American nation began WTO consultations in February, saying Canada ran afoul of trade rules because its policies unfairly bolstered the domestic aerospace industry to the detriment of Brazilian planemaker Embraer” writes Frederic Tomesco for seattletimes.com. That followed an investigation that began after a complaint by Boeing. “We are confident that the investments and contribution programs mentioned in Brazil’s petition are in full compliance with all WTO and international trade rules,” Bombardier spokesman Simon Letendre said by email.Brazil began WTO consultations in February, saying Canada ran afoul of trade…

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Spike Aerospace to Fly Scaled Demonstrator of Supersonic Jet

“Spike Aerospace, a Boston-based firm working on a supersonic business jet, recently announced that it will soon begin flight testing an unmanned scaled demonstrator of its planned S-512 Quiet Supersonic Jet, according to Aviation Week” writes unknown author for popularmechanics.com. With diverse engineering support and a bold path to flight, Spike Aerospace hopes to sell the ultimate business jet to customers in the mid-2020s.Larger and faster demonstrator aircraft are planned to follow in flight test as Spike works toward building the S-512, a Mach 1.6, quiet-boom supersonic business jet with…

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Defense contractor Northrop Grumman to buy rocketmaker Orbital ATK

“Orbital ATK, an aerospace manufacturer based in Dulles, holds a contract with NASA to resupply the International Space Station” reports washingtonpost.com. Northrop Grumman announced Monday that it plans to acquire the rocket and satellite company Orbital ATK, in a deal that would further strengthen the giant defense contractor in space and missile defense.It also builds the motors for several missile systems, as well as commercial and national security satellites.It comes as the company was seeking to bolster its space and missile defense systems at a time of increasing tension with potential…

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Northrop Grumman agrees deal to buy Orbital ATK for $7.8 billion in cash

“Northrop Grumman Corp. on Monday said it agreed to buy fellow defense contractor Orbital ATK Inc. for $7.8 billion in cash, as acquisition activity in the aerospace industry ramps up” writes Dana Mattioli for marketwatch.com. Including $1.4 billion in assumed debt, the deal carries a total price tag of about $9.2 billion.Northrop NOC, +0.50%  agreed to pay $134.50 a share for Orbital OA, +1.52%  , a roughly 22% premium to Friday’s closing price of $110.04 on Friday.The deal follows another big aerospace union announced earlier this month when United Technologies…

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Boeing scowls at big deal by suppliers United Techonologies and Rockwell

“United Technologies plans to combine its aerospace business with Rockwell Collins in a new unit named Collins Aerospace Systems” writes Seattle Times Aerospace for seattletimes.com. The United Technologies-Rockwell Collins deal would combine two storied companies with roots in the early days of the U.S. aviation industry. Source: seattletimes.com Share This:

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combining government census numbers with information it’s obtained from space satellites

“In addition to Lewis, Facebook is also hiring aerospace engineers to help it crack this market” writes John Shinal for cnbc.com. Facebook hired Lewis, a former intellectual property lawyer with extensive experience in international aerospace law, about one year ago.The company has created a data map of the planet’s entire human population by combining government census numbers with information it’s obtained from space satellites, according to Janna Lewis, Facebook’s head of strategic innovation partnerships and sourcing.The mapping technology, which Facebook says it developed itself, can pinpoint any man-made structures in…

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Facebook has created a map of Earth that can pinpoint any man-made structures to a resolution of 5 meters, to help company’s Internet provision efforts

“In addition to Lewis, Facebook is also hiring aerospace engineers to help it crack this market” writes unknown author for cnbc.com. Facebook hired Lewis, a former intellectual property lawyer with extensive experience in international aerospace law, roughly one year ago.The company has created a data map of the planet’s entire human population by combining government census numbers with information it’s obtained from space satellites, according to Janna Lewis, Facebook’s head of strategic innovation partnerships and sourcing.The mapping technology, which Facebook says it developed itself, can pinpoint any man-made structures in…

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Defense stocks rise after Trump speech on Afghanistan

“The SPDR S&P Aerospace & Defense ETF XAR, +1.01% an exchange-traded fund that tracks the sector, rose 1%, while the PowerShares Aerospace & Defense Portfolio PPA, +0.85% was up 0.6%” writes Markets Reporter for marketwatch.com. Shares of companies in the defense industry rose on Tuesday, after President Donald Trump said he intended to step up the fight against extremists and Taliban forces in Afghanistan, something that could lead to increased military spending. KTOS, +1.91% climbed 2.2% as one of the biggest percentage gainers in the sector. Source: marketwatch.com Share This:

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