By Kyunghee Park and Seonjin Cha - 2012-08-31T07:03:22Z

Korea Aerospace Industries Ltd. (047810) shareholders plan to sell a 1.05 trillion won ($925 million) stake in the countrys only planemaker failed because of a shortage of offers.

Korean Air Lines Co. (003490) was the only bidder to register by the 3 p.m. deadline today, Korea Finance Corp. said in a statement. The shareholders will decide whether to hold another round of bidding after further discussions, it said without elaboration. At least two bids are needed because of rules governing sales by government entities.

Interest in the planemaker may have been damped by concerns about the impact of December presidential elections and objections to the sale raised by some lawmakers. The company expects to more than double orders this year as North Koreas militarization and rising defense spending in emerging markets spur demand for its helicopters and T-50 trainer jets.

Apart from the political risk, the bigger question is who will want to buy the company, said Justin Lee, a Seoul-based analyst at Nomura Holdings Inc. Itll take some time to find an owner as the deepening economic uncertainties discourage takeovers.

Korean Air, which already makes parts for Airbus SAS and Boeing Co., submitted a preliminary bid as it tries to expand its aerospace business. The company didnt say how much it would offer. The sale is being managed by Korea Development Bank and Credit Suisse AG.

Korea Finance is offering part of its 26 percent stake in Sacheon-based Korea Aerospace in the sale. It plans to remain the second-biggest shareholder. Hyundai Motor Co. (005380), Samsung Techwin Co. and Doosan Group are each selling 10 percent holdings.

The planemaker has a market value of $2.2 billion, according to data compiled by Bloomberg. The shares dropped 1 percent to close at 25,750 won in Seoul before the announcement. Korean Air rose 0.1 percent to 47,500 won.

Lawmakers have objected to the sale because of concerns about transparency. Korea Finance is acting hastily and placing the planemaker under private control may weaken public accountability, Chyung Ho Joon of the Democratic United Party said during a July 30 meeting of the National Policy Committee, a parliamentary body that oversees Korea Finance and other agencies.

Kim Jung Hoon of the ruling New Frontier Party also said at the same meeting that the current administration shouldnt rush the sale. His colleague Park Geun Hye is leading opinion polls ahead of the December election. President Lee Myung Bak will end his five-year term in February.

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Korea Aerospace Stake Sale Fails as Only Korean Air Bids

MISSISSAUGA, ON, Aug. 31, 2012 /CNW/ - Magellan Aerospace Corporation is pleased to announce today that it has completed the acquisition of John Huddleston Engineering Limited ("JHE"). JHE is a leading European supplier of precision machined aerospace components with facilities in Great Britain, Northern Ireland and Poland .

With the acquisition of JHE, Magellan is strengthening and enhancing its core manufacturing capabilities and further expanding its European operations. Over the last five years, JHE has made significant investments in the latest high speed 5-axis machining equipment. In addition, JHE has been a strategic supplier to Magellan of precision machined structural components. JHE's revenues for the financial year ending March 31, 2012 were approximately $25 million , which includes approximately $3.6 million revenue from the deliveries to Magellan. The acquisition was funded out of Magellan's working capital. JHE operations will be integrated and managed through Magellan's UK operations.

Mr. James S. Butyniec , President and CEO of Magellan Aerospace Corporation said, "This acquisition is part of Magellan's global growth strategy to invest in opportunities that complement our business and strengthen Magellan's core manufacturing operations. The JHE acquisition provides additional capacity and engineering resources to enable us to support the growth in key customer programs."

About Magellan Aerospace: Magellan Aerospace is one of the world's most integrated aerospace industry suppliers. Magellan engineers and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, and complementary specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (MAL.TO), with operating units throughout Canada , the United States , the United Kingdom , and India .

About John Huddleston Engineering Limited (JHE): JHE is a leading manufacturer of machined aerostructures components. JHE's facilities in Belfast and Blackpool, UK employ some of the latest high speed machining technology. The companies support both civil and defence markets supplying the global aerospace industry. JHE's treatment facility in Mielec, Poland provides the aerospace industry with a comprehensive range of surface treatment processes.

Forward Looking Statement: This press release contains information and statements of a forward-looking nature and is based on assumptions and uncertainties as well as on management's reasonable evaluation of future events related to the acquisition of JHE. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Corporation's control including the risks and uncertainties set forth in Magellan's Annual Information Form filed on SEDAR at http://www.sedar.com which risks and uncertainties are incorporated by reference in this press release. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements.

SOURCE: Magellan Aerospace Corporation

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Magellan Aerospace Acquires John Huddleston Engineering Limited

The growth of the Aerospace and Defense industry depends largely on the spending outlook of government departments, with the U.S. defense budget being the primary driver. The U.S. is the world's largest aerospace and defense market, and also home to the world's largest military budget. The industry largely depends on U.S. government contracts.

Defense spending is the major source of revenue for the top nine global aerospace and defense companies, with the US accounting for more than 40% of total global defense spending. Given the uncertain macroeconomic environment, not just in the U.S. but also globally, the industry faces the risk of fewer new orders as customers are more likely to postpone or cancel contractual orders and/or payments.

With the U.S. government expected to institute greater austerity in its defense budget going forward, defense companies will need to source more orders from global clients. The geo-strategic significance of the industry and the related heavy export restrictions will come in the way, to some extent, of those marketing efforts by U.S.-based operators.

The U.S. defense budget for 2012 was $645.7 billion, with the base budget at $530.6 billion and $115.1 billion approved for Overseas Contingency Operations ("OCO") as supplementary defense spending, mainly to fund ongoing wars. In February this year, the Department of Defense ("DoD") requested a Pentagon base budget of $525.4 billion for 2013, which is approximately $5.1 billion or 1% less than what is approved for fiscal 2012, with $88.5 billion earmarked for OCO spending.

In early August 2012, the subcommittee recommended $511 billion for DoD's base budget and $93 billion for OCO spending, for a total of $604.5 billion for fiscal 2013.

The general trend is approving an amount less than requested. However, here the government has outstripped OCO spending more than requested. In this case, the money has been transferred from one bill to the other in order to keep the base budget within the budget law's spending limits.

Since the September 2001 WTC and Pentagon attacks, the U.S. government has spent significant amounts on military campaigns overseas. The country has already decided to gradually move out of Afghanistan, and the war in Iraq has finally ended, which is expected to lower its expenditure on foreign campaigns.

However, its clandestine military operations in other nations as part of anti-terrorism operations will continue to add to foreign war expenses. The overall trend in overseas military spending is unmistakably on the downtrend.

OPPORTUNITIES

Acquisition, Merger, Spin-offs and Strategic Alliance

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Aerospace & Defense Stock Overview - Aug. 2012 - Zacks Analyst Interviews

The growth of the Aerospace and Defense industry depends largely on the spending outlook of government departments, with the U.S. defense budget being the primary driver. The U.S. is the world's largest aerospace and defense market, and also home to the world's largest military budget. The industry largely depends on U.S. government contracts.

Defense spending is the major source of revenue for the top nine global aerospace and defense companies, with the US accounting for more than 40% of total global defense spending. Given the uncertain macroeconomic environment, not just in the U.S. but also globally, the industry faces the risk of fewer new orders as customers are more likely to postpone or cancel contractual orders and/or payments.

With the U.S. government expected to institute greater austerity in its defense budget going forward, defense companies will need to source more orders from global clients. The geo-strategic significance of the industry and the related heavy export restrictions will come in the way, to some extent, of those marketing efforts by U.S.-based operators.

The U.S. defense budget for 2012 was $645.7 billion, with the base budget at $530.6 billion and $115.1 billion approved for Overseas Contingency Operations ("OCO") as supplementary defense spending, mainly to fund ongoing wars. In February this year, the Department of Defense ("DoD") requested a Pentagon base budget of $525.4 billion for 2013, which is approximately $5.1 billion or 1% less than what is approved for fiscal 2012, with $88.5 billion earmarked for OCO spending.

In early August 2012, the subcommittee recommended $511 billion for DoD's base budget and $93 billion for OCO spending, for a total of $604.5 billion for fiscal 2013.

The general trend is approving an amount less than requested. However, here the government has outstripped OCO spending more than requested. In this case, the money has been transferred from one bill to the other in order to keep the base budget within the budget law's spending limits.

Since the September 2001 WTC and Pentagon attacks, the U.S. government has spent significant amounts on military campaigns overseas. The country has already decided to gradually move out of Afghanistan, and the war in Iraq has finally ended, which is expected to lower its expenditure on foreign campaigns.

However, its clandestine military operations in other nations as part of anti-terrorism operations will continue to add to foreign war expenses. The overall trend in overseas military spending is unmistakably on the downtrend.

OPPORTUNITIES

Acquisition, Merger, Spin-offs and Strategic Alliance

More here:

Aerospace & Defense Stock Overview - Aug. 2012 - Industry Outlook

The growth of the Aerospace and Defense industry depends largely on the spending outlook of government departments, with the U.S. defense budget being the primary driver. The U.S. is the world's largest aerospace and defense market, and also home to the world's largest military budget. The industry largely depends on U.S. government contracts.

Defense spending is the major source of revenue for the top nine global aerospace and defense companies, with the US accounting for more than 40% of total global defense spending. Given the uncertain macroeconomic environment, not just in the U.S. but also globally, the industry faces the risk of fewer new orders as customers are more likely to postpone or cancel contractual orders and/or payments.

With the U.S. government expected to institute greater austerity in its defense budget going forward, defense companies will need to source more orders from global clients. The geo-strategic significance of the industry and the related heavy export restrictions will come in the way, to some extent, of those marketing efforts by U.S.-based operators.

The U.S. defense budget for 2012 was $645.7 billion, with the base budget at $530.6 billion and $115.1 billion approved for Overseas Contingency Operations ("OCO") as supplementary defense spending, mainly to fund ongoing wars. In February this year, the Department of Defense ("DoD") requested a Pentagon base budget of $525.4 billion for 2013, which is approximately $5.1 billion or 1% less than what is approved for fiscal 2012, with $88.5 billion earmarked for OCO spending.

In early August 2012, the subcommittee recommended $511 billion for DoD's base budget and $93 billion for OCO spending, for a total of $604.5 billion for fiscal 2013.

The general trend is approving an amount less than requested. However, here the government has outstripped OCO spending more than requested. In this case, the money has been transferred from one bill to the other in order to keep the base budget within the budget law's spending limits.

Since the September 2001 WTC and Pentagon attacks, the U.S. government has spent significant amounts on military campaigns overseas. The country has already decided to gradually move out of Afghanistan, and the war in Iraq has finally ended, which is expected to lower its expenditure on foreign campaigns.

However, its clandestine military operations in other nations as part of anti-terrorism operations will continue to add to foreign war expenses. The overall trend in overseas military spending is unmistakably on the downtrend.

OPPORTUNITIES

Acquisition, Merger, Spin-offs and Strategic Alliance

More here:

Aerospace and Defense Stock Outlook - August 2012 - Industry Outlook

SANTA CLARA, Calif.--(BUSINESS WIRE)--

e2v aerospace and defense, the leading provider of technology solutions to the US mil/aero marketplace, has announced the appointment of Robert Brevelle into the role of President. Robert will be joining e2v on 3rd September and will be based at the Milpitas, CA facility.

Robert has broad experience in leading diverse organizations in the aerospace and defense arena, and has specialized in providing Intelligence, Surveillance, and Reconnaissance (ISR) solutions.

Robert joins e2v from Advanced Reconnaissance Corporation, where he held the role of Vice President of Business Development and Marketing. He has previously been accountable for building business opportunities and strategic partnerships in the aerospace and defense industry, having held senior and executive level P&L positions at DRS Defense Solutions, Rockwell Collins, L-3 Communications and Raytheon.

Robert holds advanced degrees in computer science and engineering and a Masters of Business Administration in Operations Management.

As part of growth plans into the US mil/aero market, e2v aerospace and defense recently moved from Santa Clara to larger facilities in Milpitas, CA.

Robert brings to e2v his strong business development, project management and engineering background, aligned with his proven record of developing and implementing sound business strategies to generate growth. He will design and lead e2vs work towards developing strategic relationships and driving further growth in the US mil/aero market.

About e2v aerospace and defense

e2v aerospace and defense Inc, based in Santa Clara CA, is a leading provider of technology solutions to the US mil/aero marketplace for imaging, RF Power and hi-rel semiconductor requirements.

e2v aerospace and defense is part of the global e2v group, headquartered in the UK and employing approximately 1,650 people, with design and production facilities across Europe and North America. For the year ended 31 March 2012 e2v reported sales of over $370m and is listed on the London Stock Exchange. For more information, visit http://www.e2v.com/aero.

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e2v aerospace & defense appoints Robert Brevelle as President

The growth of the Aerospace and Defense industry depends largely on the spending outlook of government departments, with the U.S. defense budget being the primary driver. The U.S. is the worlds largest aerospace and defense market, and also home to the worlds largest military budget. The industry largely depends on U.S. government contracts.

Defense spending is the major source of revenue for the top nine global aerospace and defense companies, with the US accounting for more than 40% of total global defense spending. Given the uncertain macroeconomic environment, not just in the U.S. but also globally, the industry faces the risk of fewer new orders as customers are more likely to postpone or cancel contractual orders and/or payments.

With the U.S. government expected to institute greater austerity in its defense budget going forward, defense companies will need to source more orders from global clients. The geo-strategic significance of the industry and the related heavy export restrictions will come in the way, to some extent, of those marketing efforts by U.S.-based operators.

The U.S. defense budget for 2012 was $645.7 billion, with the base budget at $530.6 billion and $115.1 billion approved for Overseas Contingency Operations (OCO) as supplementary defense spending, mainly to fund ongoing wars. In February this year, the Department of Defense (DoD) requested a Pentagon base budget of $525.4 billion for 2013, which is approximately $5.1 billion or 1% less than what is approved for fiscal 2012, with $88.5 billion earmarked for OCO spending.

In early August 2012, the subcommittee recommended $511 billion for DoDs base budget and $93 billion for OCO spending, for a total of $604.5 billion for fiscal 2013.

The general trend is approving an amount less than requested. However, here the government has outstripped OCO spending more than requested. In this case, the money has been transferred from one bill to the other in order to keep the base budget within the budget laws spending limits.

Since the September 2001 WTC and Pentagon attacks, the U.S. government has spent significant amounts on military campaigns overseas. The country has already decided to gradually move out of Afghanistan, and the war in Iraq has finally ended, which is expected to lower its expenditure on foreign campaigns.

However, its clandestine military operations in other nations as part of anti-terrorism operations will continue to add to foreign war expenses. The overall trend in overseas military spending is unmistakably on the downtrend.

OPPORTUNITIES

Acquisition, Merger, Spin-offs and Strategic Alliance

Read more:

Aerospace and Defense Stock Outlook - August 2012

The growth of the Aerospace and Defense industry depends largely on the spending outlook of government departments, with the U.S. defense budget being the primary driver. The U.S. is the worlds largest aerospace and defense market, and also home to the worlds largest military budget. The industry largely depends on U.S. government contracts.

Defense spending is the major source of revenue for the top nine global aerospace and defense companies, with the US accounting for more than 40% of total global defense spending. Given the uncertain macroeconomic environment, not just in the U.S. but also globally, the industry faces the risk of fewer new orders as customers are more likely to postpone or cancel contractual orders and/or payments.

With the U.S. government expected to institute greater austerity in its defense budget going forward, defense companies will need to source more orders from global clients. The geo-strategic significance of the industry and the related heavy export restrictions will come in the way, to some extent, of those marketing efforts by U.S.-based operators.

The U.S. defense budget for 2012 was $645.7 billion, with the base budget at $530.6 billion and $115.1 billion approved for Overseas Contingency Operations (OCO) as supplementary defense spending, mainly to fund ongoing wars. In February this year, the Department of Defense (DoD) requested a Pentagon base budget of $525.4 billion for 2013, which is approximately $5.1 billion or 1% less than what is approved for fiscal 2012, with $88.5 billion earmarked for OCO spending.

In early August 2012, the subcommittee recommended $511 billion for DoDs base budget and $93 billion for OCO spending, for a total of $604.5 billion for fiscal 2013.

The general trend is approving an amount less than requested. However, here the government has outstripped OCO spending more than requested. In this case, the money has been transferred from one bill to the other in order to keep the base budget within the budget laws spending limits.

Since the September 2001 WTC and Pentagon attacks, the U.S. government has spent significant amounts on military campaigns overseas. The country has already decided to gradually move out of Afghanistan, and the war in Iraq has finally ended, which is expected to lower its expenditure on foreign campaigns.

However, its clandestine military operations in other nations as part of anti-terrorism operations will continue to add to foreign war expenses. The overall trend in overseas military spending is unmistakably on the downtrend.

OPPORTUNITIES

Acquisition, Merger, Spin-offs and Strategic Alliance

Visit link:

Aerospace & Defense Stock Overview - Aug. 2012

The aerospace and building systems manufacturer United Technologies is running into turbulence.

(MONEY Magazine) -- The maker of Pratt & Whitney plane engines, Otis elevators, and Carrier air conditioners has outperformed the broad stock market for much of the past decade, thanks in part to its business and geographic diversification.

But United Technologies, which recently completed a deal to buy aircraft-component maker Goodrich, is running into a bit of turbulence.

Slowing sales in China and the possibility of defense cuts at home, for instance, threaten UTX's enviable profit growth.

Related: Defense cuts won't hurt that much

Is this just a bumpy stretch or the start of a gradual descent?

Troubles abroad

Nearly half of the company's sales come from slowing Europe and Asia.

United Technologies (UTX, Fortune 500) international reach 61% of its sales are generated overseas, with about a third of that coming from emerging markets like China and India has long been seen as a positive. Now that global growth has hit a speed bump, though, this plus has turned into a minus.

The European debt crisis is casting a cloud over foreign sales (Europe accounts for 26% of revenue), and the strengthening of the U.S. dollar has made American goods less competitive abroad.

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Aerospace giant faces headwinds

NEW YORK, Aug. 29, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

http://www.reportlinker.com/p0960377/Global-Aerospace-Fasteners-Industry.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Aerospace_and_Defense

This report analyzes the worldwide markets for Aerospace Fasteners in US$ Million. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Annual estimates and forecasts are provided for the period 2010 through 2018. Also, a six-year historic analysis is provided for these markets. The report profiles 100 companies including many key and niche players such as 3V Fasteners Company Inc., Alcoa Fastening Systems, Allfast, Inc., B&B Specialties, Inc., B/E Aerospace, Emhart Teknologies LLC, LISI Aerospace S.A.S, National Aerospace Fasteners Corporation, Nylok Corporation, Precision Castparts Corp., Cherry Aerospace, TFI Aerospace Corporation, TPS Aviation Inc., TriMas Corporation, Monogram Aerospace Fasteners, and Wesco Aircraft Holdings, Inc. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain.

To order this report:Aerospace_and_Defense Industry: Global Aerospace Fasteners Industry

Nicolas Bombourg

Reportlinker

Email: nicolasbombourg@reportlinker.com

US: (805)652-2626

Intl: +1 805-652-2626

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Global Aerospace Fasteners Industry

Singapore, 28 August 2012 ST Aerospace Ltd today announced that it has, through its wholly owned subsidiary ST Aerospace Engineering Pte Ltd (STA Engineering), injected US$1.44m (approximately S$1.8m) into the capital of wholly owned subsidiary, ST Aerospace Academy Pte Ltd (STAA).

The capital injection affirms ST Aerospaces confidence in the pilot training business and its continued investment to upgrade STAAs flight training capacity and capabilities to meet rising training demand from airline customers and private self-funded individuals. STAA will use part of the funds to equip its new Flight Operations Centre (FOC) at the Ballarat Airport, featuring a state-of-the-art centralised flight operations and dispatch centre. The FOC will come with a new aircraft apron that can accommodate a fleet of up to 40 training aircraft. There is also plan to acquire a PA44 Seminole full flight simulator in late 2012. STAA expects to train 200 commercial pilot cadets by the end of 2012.

The fund injection is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the worlds largest commercial airframe MRO provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 8,000 engineers and technical specialists. Please visit http://www.staero.aero.

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ST Aerospace Injects Capital into Its Commercial Pilot Training Academy

Pop stars, heads of state and Fortune 500 companies will have another reason to look to San Antonio now that Singapore-based ST Aerospace has opened an affiliate dedicated to customized, interior renovations of VIP-style aircraft.

Need an extra bedroom or media center for your wide-body jet? Aeria Luxury Interiors, the new company ST Aerospace started, can do that. Dining rooms, lounges and medically equipped transport capabilities also are among the upgrades Aeria can offer select customers.

It's high-end, luxury interiors, said Ron Soret, general manager of completions at Aeria, and the lead manager of the team pulling the company together.

Our clientele have not been as affected by the downturn in the market as other sectors have been, he said. I think this is going to be a very successful venture for (ST Aerospace).

Gore Design Completions is another San Antonio company that has established itself in the market for high-end aircraft interior refurbishments. Thomas Moore, chairman of the Greater San Antonio Chamber of Commerce's aerospace committee, said the market has been red hot for Gore Design, and he believes it will create strong opportunities for Aeria as well.

Aeria already is in operation on a limited basis at a 100,000-square-foot hangar. The hangar is still under renovations to make it ready for the company to operate at full speed.

Soret said one small interior refurbishment job already has been completed using employees from ST Aerospace San Antonio, the repair and maintenance affiliate of ST Aerospace.

Bids are out on four other projects, and Aeria expects to learn within a few weeks whether any were accepted.

At full capacity, the company could handle up to five renovations a year and employ about 300 people, Soret said. It expects its hangar to be completed by the end of September and will add employees as contracts are signed.

Aeria's hangar once was part of Dee Howard Aircraft Maintenance, an aerospace firm that filed for bankruptcy protection in 2002 and became part of ST Aerospace a year later. Interior aircraft renovations were part of its mission, and its demise left a pool of talent that ST Aerospace and other aerospace companies have utilized.

Read more here:

ST Aerospace adds luxury interior unit

Friday, August 24 11:20:20

Dublin Aerospace today said that it has concluded a contract with XL Airways Germany for the provision of base maintenance services on its four B737-800 aircraft for the 2012/2013 winter season.

The maintenance services will be carried out in November at its facility in Dublin and this will be the 3rd year in succession that Dublin Aerospace will carry out base maintenance for XL Airways Germany.

The financial terms of the contract were not disclosed.

Following the contract signing Barry Grimm, COO, stated that "XL Airways Germany is proud to have a partner like Dublin Aerospace, the experience of quality and onetime performance by Dublin Aerospace is the driving factor beside the competitiveness to have our B737-800 Base Maintenance again performed by Dublin Aerospace. This partnership has over the period of time developed even more, this Irish company has helped XL Airways in several AOG cases in a extraordinary manner to the best benefit for XL Airways".

Commenting on the selection of Dublin Aerospace by XL Airways Germany, Donal Rogers, CEO, stated that "Dublin Aerospace are delighted to have been chosen as XL Airways Germany provider of maintenance services on its fleet of Boeing 737-800 aircraft. Dublin Aerospace's flexibility and competiveness on this contract will enable XL Airways Germany to achieve industry leading maintenance costs, TAT's and flexibility that are unmatched in the market. We welcome XL Airways Germany back to Dublin for a 3rd successive year".

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Dublin Aerospace win German contract

Bangalore, Aug 24 (IANS) The Karnataka government is formulating an aerospace policy to attract global investments and make Banagalore a major aerospace hub in south Asia, a senior official said Friday.

Continued here:

Karnataka to have aerospace policy to woo investments

VICTORIA, BRITISH COLUMBIA--(Marketwire -08/24/12)- The aerospace sector in British Columbia is receiving a significant boost thanks to the Harper Government's investment in research and development. This support was announced today at the University of Victoria (UVic) by Andrew Saxton, Member of Parliament for North Vancouver and Parliamentary Secretary to the President of the Treasury Board and for Western Economic Diversification.

"Today's funding demonstrates our Government's commitment to supporting leading edge western Canadian industries, such as unmanned aerial vehicle systems," said PS Saxton. "Our Government continues to pave the way in creating jobs, growth and long-term prosperity for the West and for Canada."

With more than $670,000 in WD funding, UVic will undertake research and development to improve the safety, performance and affordability of unmanned aerial vehicles (UAVs) at a scale better suited to commercial, scientific and civilian use. Currently most UAVs are used primarily as either highly sophisticated military tools or amateur radio controlled units. However, UAVs can be used for a diverse range of tasks that are repetitive, hazardous or need to be performed on short-notice. UVic will focus on creating commercially viable systems to manufacture and use in western Canada to expand the current use of UAVs to include functions such as natural resource management, agriculture management, search and rescue and wildlife inventory.

"We are grateful to the federal government for its continuing support of innovative research and development at the University of Victoria," says UVic President David Turpin. "This funding allows us to make new advances in an area of aerospace research that has exciting commercial potential for Canada, with a broad range of applications, including search and rescue, forest firefighting and aerial mapping of crops."

"We are highly satisfied with WD's continued efforts to support and assist the continued growth of the Canadian unmanned vehicles sector," said Spencer Fraser, President of Meggitt Training Systems Canada. "We applaud Minister Yelich's leadership to bring national focus on this important emerging technology and are delighted to see UVic's pioneering efforts being recognized by the Government of Canada."

Since 2006, the Harper Government, through WD, has invested in job-creating small and medium-sized businesses, aerospace, marine and defence industries, and supported innovative entrepreneurs in pursuing emerging markets. By continuing to promote new economic opportunities, WD is helping to create jobs, economic growth, and long-term prosperity.

Subscribe to news releases and keep up-to-date on the latest from WD.

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Harper Government Invests in British Columbia's Aerospace Sector

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/kzgqsq/top_450_aerospace) has announced the addition of the "Top 450 Aerospace & Defence (Global)" report to their offering.

This report is an in-depth financial evaluation of the Global Aerospace & Defence. Using the unique Plimsoll method of analysis, each of the top 450 companies included is individually assessed and ranked against each other and compared to industry averages. Using the most up-to-date financial information available, the two-page per company analysis provides detailed financial analysis for each organisation.

The following are some of the key findings of this new report:

- 91 of the 450 companies analysed have been rated as Danger

- 70 companies are ripe for takeover

- 80 companies achieved greater than 10% increase in sales last year.

- 60 companies made a pre-tax loss.

- 137 companies saw sales fall last year.

Our analysis gives you this unrivalled market and company intelligence using a simple graphical, numeric and model. Each company is individually analysed in both the company's own currency, and USD ($) for ease of use. These individual analyses highlight a company's strengths and weaknesses instantly.

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Research and Markets: Top 450 Aerospace & Defence (Global)

Aerospace and energy firm Woodward Inc. will invest more than $200 million to build a new manufacturing plant and offices near Rockford, which it says will create 660 jobs over the next five years.

The plans are expected to be announced later this morning by company executives and Gov. Pat Quinn, who courted the expansion in Loves Park, which already is home to Woodward facilities. The state is providing a package of financial incentives with a potential worth of nearly $50 million.

A number of Illinois-based universities that produce engineering graduates also participated in the effort to keep the expansion in-state. The Fort Collins, Colo.-based company considered other possible sites, including in South Carolina and Wisconsin.

The new campus will house Woodward's Aircraft Turbine Systems business, including about 300,000 square-feet of production and office space on 60 acres. The company plans to break ground this fall, with initial occupancy planned for late 2013.

"Our success in gaining new business created numerous investment opportunities," Woodward Chairman and CEO Thomas A. Gendron said in a prepared statement. The new business stemmed from projected growth in the airline industry and heightened demand for next-generation narrow body jets, the company has stated.

Factors in its decision to expand in Illinois included the state's support, the proximity to its current campus in the area and the availability of aerospace engineering and manufacturing talent, Gendron said.

The 142-year-old company plans to double its work force in the Rockford area by 2021. Rockford had an unemployment rate of 11.5 percent in June, according to preliminary non-seasonally adjusted figures from the Bureau of Labor Statistics. This outstrips the comparable state rate of 9.3 percent in June, and the national rate that month of 8.4 percent.

"The Rockford region's highly skilled work force makes Illinois an ideal place for companies like Woodward that are looking to grow," Quinn said in a prepared statement.

The state's Department of Commerce and Economic Opportunity is providing an investment package that includes Economic Development for a Growing Economy (EDGE) corporate income tax credits. The potential value of the tax credits, which are based on the company meeting job creation and retention goals, is $45 million.

The state also is providing $578,000 in Employer Training Investment Program (ETIP) job training funds, $3 million in capital grants for site improvements and $500,000 in Business Development Public Infrastructure Program funds to the city of Loves Park.

Continue reading here:

Aerospace firm Woodward to build plant near Rockford

Ball Aerospace of Boulder has been awarded a contract from NASA to lead a government-industry team in the demonstration of an alternative fuel for future space vehicles.

The company said a Ball team will develop and fly the Green Propellant Infusion Mission (GPIM) to demonstrate a high-performance, non-toxic fuel alternative to conventional hydrazine.

GPIM will be developed over the next three years and launched in 2015 .

The purpose of employing green fuel alternatives is to reduce the environmental impact and operational hazards, and improve launch capabilities, Ball said. While the current use of hydrazine is efficient, the fuel is highly toxic and dangerous to transport, said the company.

Ball is the prime contractor for the project along with teams from Aerojet Corp., the Glenn Research Center, and the U.S. Air Force Laboratory at Edward Air Force Base.

They will be given support from the U.S. Air Force Space and Missile Systems Center at Kirkland Air Force Base and NASA's Kennedy Space Center.

Ball president David L. Taylor said Ball is well-known for innovative technology solutions and proud to partner with NASA's Office of the Chief Technologist (OCT) "to advance space technology.

"This mission brings together a government-industry team from multiple agencies to develop a fully domestic green propellant solution for the next generation of space flight," said Taylor.

GPIM is a Technology Demonstration Mission under the leadership of NASA's Office of Chief Technologist.

Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz

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Boulder's Ball Aerospace to develop green fuel for space vehicles

CLEVELAND & SINGAPORE--(BUSINESS WIRE)--

Nextant Aerospace today announced that Asia Pacific Jets has placed an order for 10 Nextant 400XT aircraft, the worlds only FAA-certified remanufactured business jet. All 10 Nextant 400XT aircraft will be delivered over a period of three years, with a portion outfitted as 400XT air ambulances and others as normally outfitted 400XT business jet aircraft. Asia Pacific Jets also will serve as a sales agent in Asia for the 400XT, and has announced a new partnership with Hong Kong-based AirMed Asia, a subsidiary of AirMed International.

The first two of the 10-aircraft order will be delivered by the end of 2012, a timeframe aligned with the opening of a new Singaporean base that Asia Pacific Jets and AirMed Asia are launching later this year through a strategic partnership. Utilizing its strong operational background, AirMed Asia will coordinate maintenance and warranty support for Nextant Aerospace in the region, providing 400XT owners with exceptional post-delivery product support.

We are proud that Asia Pacific Jets has selected the Nextant 400XT, and to see the aircraft begin service on the Asian continent, said Kenneth C. Ricci, chief executive officer of Nextant Aerospace. With more than 15 400XT aircraft now in operation across the globe, feedback from operators has been outstanding. We are elated that the aircraft is performing so well for its owners, and look forward to introducing this groundbreaking aircraft with its unprecedented combination of value and performance to additional markets around the world.

Jeffrey Tolbert, the chief executive officer of AirMed International, added, We know based on our extensive experience flying the Beechjet 400A/XP as an air ambulance that the aircraft provides great versatility for air medical services. The Nextant 400XT will offer AirMed Asia and our partners at Asia Pacific Jets everything we like about the Beechjet, and everything one would expect from a brand-new light jet, but at a fraction of the cost. This includes range that will enable nonstop flights from our Singapore base as far west as Mumbai, India, and as far north as Shanghai, China, along with the absolute lowest operating cost basis in its class.

The Nextant 400XT uses a remanufactured Beechjet 400A/XP airframe that is enhanced with new, state-of-the-art technology including the Williams FJ44-3AP turbofan engine, the Rockwell Collins Pro Line 21 integrated avionics suite, advanced electronics, including high-speed wireless Internet service, and new interiors.

The resulting aircraft has a 2,005 nautical mile (3,713 km) range and cruising speed of 460 nautical miles per hour (740 km per hour). It supports a remarkable 30 percent reduction in operating costs over the Beechjet 400 A/XP, fuel efficiency improvements of 20-30 percent, depending on the length of the flight segment, significantly reduced carbon emissions and noise compliance that exceeds Stage IV requirements. The 400XT is available at a cost about half that of competing clean-sheet designs.

The 400XT is considered to be a new type in the Aircraft Bluebook. Further options include additional avionics features, and an optional seating configuration that allows for the most leg room of any light jet in production without sacrificing seating capacity.

About Nextant Aerospace

Nextant Aerospace was founded in 2007 for the primary purpose of developing an aircraft modernization program. The company is credited with being the first to introduce the concept of aircraft remanufacturing to the business jet market. The Nextant 400XT is a remanufactured Beechjet 400A/XP equipped with the Williams FJ44-3AP engines and Rockwell Collins Pro Line 21 integrated avionics suite. The new aircraft also benefits from significant aerodynamic enhancements including newly designed nacelles, pylons and an improved engine mounting configuration. The 400XT is delivered as a new aircraft with a two-year, full aircraft warranty. Nextants design and manufacturing facility is located in Cleveland, Ohio, at the Cuyahoga County Airport. For more information, please visit http://www.nextantaerospace.com, like us on Facebook, follow us on Twitter @nextantaero or join us on LinkedIn.

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Nextant Aerospace and Asia Pacific Jets Announce Agreement for Delivery of 400XT Aircraft for Service in Asia

CALGARY, ALBERTA--(Marketwire - Aug. 21, 2012) - FLYHT Aerospace Solutions Ltd. (FLY.V) (the "Company" or "FLYHT") is pleased to announce it has retained The Howard Group Inc. (the "Howard Group") as its investor relations advisor as of September 1, 2012.

The Howard Group has been retained by the Corporation for a period of twelve months, and will be responsible for, among other matters, online retail investor oriented programs, the dissemination of corporate information, investment community presentations and communications, assisting with management conference calls and managing shareholder inquiries.

"We are happy to have the Howard Group at the helm of our Investor Relations program," stated Bill Tempany, President & CEO of FLYHT. "They have the IR expertise, know our Company well and we believe they are the best organization to represent us and engage our shareholders."

Since 1988, the Howard Group has provided comprehensive investor and financial relations, business development solutions and in-depth strategic planning to public companies. The Howard Group is associated with the Insight Limited Partnership II, which invests in micro and small cap companies. The principals of the Howard Group, The Howard Group and the Insight II Limited Partnership own 3.39 million shares in FLYHT.

The Howard Group will receive remuneration in the amount of $7,000 per month and will be reimbursed for all approved expenses. The Agreement also provides for the issuance of 400,000 common share stock options of FLYHT to The Howard Group. The options expire three years after issued, and are exercisable at $0.25 per common share. Vesting provisions provide that 100,000 options vest (25% of the total amount issued) per quarter over the first one-year period. The Agreement can be cancelled with 60 days' notice in writing and all stock options that have not yet vested upon termination of the Agreement would immediately terminate.

The Howard Group will also maintain and distribute an ongoing investor commentary on behalf of FLYHT, at- http://www.howardgroupinsightnewsletter.blogspot.com.

This agreement is subject to regulatory and the TSX Venture Exchange approval.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides proprietary technological products and services designed to reduce costs and improve efficiencies in the airline industry. The Company has patented and commercialized three products and associated services currently marketed to airlines, manufacturers and maintenance organizations around the world. Its premier technology, AFIRS(TM) UpTime(TM), allows airlines to monitor and manage aircraft operations anywhere, anytime, in real time. If an aircraft encounters an emergency, FLYHT's triggered data streaming mode, FLYHTStream(TM), automatically streams vital data, normally secured in the black box, to designated sites on the ground in real-time. The Company has been publicly traded on the TSX Venture Exchange since 2003 and recently changed its trading symbol from AMA to FLY. Shareholders approved a Company name change from AeroMechanical Services Ltd. to FLYHT Aerospace Solutions Ltd. in May 2012.

AFIRS, UpTime, FLYHT, FLYHTStream and AeroQ are trademarks of FLYHT Aerospace Solutions Ltd.

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FLYHT Aerospace Solutions Ltd. (TSX VENTURE:FLY) Announces Appointment of the Howard Group Inc. as Investor Relations ...