BAE SYSTEMS PLC S/ADR - BAESY STOCK NEWS

BAE Systems has secured a joint procurement agreement with Sweden, Germany, and the UK to supply 436 BvS10 all-terrain vehicles, valued at $760 million, aimed at enhancing Arctic operational capabilities. Deliveries are slated to commence in 2024, with allocations of 236 vehicles to Sweden, 140 to Germany, and 60 to the UK. This acquisition bolsters BAE's position as a leader in defense mobility solutions and includes potential future orders under the Collaborative All-Terrain Vehicle (CATV) program.

FADEC Alliance, a joint venture including BAE Systems, GE, and Safran Electronics & Defense, will develop the electronic control system for the CFM International RISE engine program. This initiative aims to enhance future aircraft engine technologies by focusing on reducing fuel consumption and emissions. The program's first phase will expand control system capabilities, while the second will improve advanced systems. Development will occur at BAE's Endicott, New York site, targeting the next-generation engine by the mid-2030s.

BAE Systems has received a $13.5 million contract from the U.S. Navy to enhance its Smart D2™ technology within the ALE-47 Common Carriage program. This program aims to boost expendable payload capacity and integrate advanced countermeasure capabilities into existing aircraft systems. The Smart D2 technology will support the U.S. Navy's modernization efforts, and work will be conducted at BAE Systems' facility in Austin, Texas. This contract marks the first purchase of Smart D2 by the Department of Defense.

BAE Systems has secured two contracts totaling approximately $32 million for its advanced Bofors 57mm 3P ammunition from the Swedish Defence Materiel Administration and the Finnish Defence Forces Logistics Command. The Swedish order is valued at about $18 million, aimed at enhancing military readiness amid regional security concerns, with options for further procurement in 2023. The Finnish order is worth around $14 million, reinforcing supply security for the Finnish Navy.

BAE Systems has secured a $294.7 million contract from the U.S. Navy for maintenance and modernization of the USS Kearsarge, commencing in April 2023. The contract could increase to $340.3 million if additional options are exercised. The work entails extensive repairs, including hull and mechanical systems, to prepare the nearly 30-year-old vessel for service until January 2025. BAE Systems is also expanding its workforce at its Norfolk shipyard to accommodate this project.

BAE Systems has secured a contract worth $1.37 billion from the Slovak Republic for the delivery of 152 CV9035 infantry fighting vehicles (IFVs). This agreement emphasizes collaboration with Slovak industry, enhancing local capabilities and ensuring long-term support. The CV90MkIV, equipped with advanced technology including a 35 mm D-series turret and active protection systems, will significantly modernize the Slovak Army. The contract includes various vehicle configurations and comprehensive training systems, marking Slovakia as the 8th member of the CV90 User Club.

BAE Systems has secured a $1.37 billion contract with the Slovak Republic for 152 CV9035 infantry fighting vehicles. This deal, part of a government-to-government agreement with Sweden and Slovakia, emphasizes local industry participation, with ZTS - ŠPECIÁL as the primary partner. The CV9035 features advanced technologies, including a 35 mm D-series turret, enhanced battlefield capabilities, and an integrated active protection system. This contract also supports Slovak military modernization and strengthens bilateral ties.

Magellan Aerospace Corporation has announced the continuation of its agreement with BAE Systems to produce F-35 Lightning II horizontal tail assemblies. This multi-year deal follows over a decade of collaboration and enables Magellan to maintain its production rate despite challenges during the COVID-19 crisis. The company aims to deliver more than 1,000 ship sets throughout the F-35 program, further solidifying its role in this critical global defense initiative, which involves multiple international partners.

Amprius Technologies, Inc. (NYSE: AMPX) announced validation of its 390 Wh/kg polymer electrolyte battery cell following a successful nail penetration test, meeting U.S. military specifications. This test proves the safety of the cells under combat conditions, ensuring no combustion or excessive heat occurs during penetration. The innovative technology offers a potential energy density increase of nearly 100%, which could significantly enhance the runtime of wearable batteries for U.S. Army soldiers. A purchase order for thirty battery packs has been placed for capability demonstration purposes.