BAE SYSTEMS PLC S/ADR - BAESY STOCK NEWS

BAE Systems has received a $169 million contract modification from the U.S. Marine Corps for the second lot of full-rate production of Amphibious Combat Vehicles (ACVs), totaling 33 vehicles. This contract underscores BAE's commitment to support Marine Corps' operational needs and capabilities. The ACV boasts superior sea and land mobility, and BAE is already contracted for two vehicle variants, with further developments planned, including a 30mm cannon variant. BAE continues timely delivery of vehicles to the Marine Corps, ensuring effective combat readiness.

BAE Systems has secured a $60 million contract from the Army Contracting Command under the Cornerstone Other Transaction Authority to develop next-generation radiation hardened microelectronics. This initiative, leveraging Intel’s foundry services, aims to enhance the U.S. government's access to cutting-edge technology for defense and aerospace applications. The collaboration intends to resolve supply chain issues related to microelectronics designed for rugged environments, facilitating the production of advanced, high-reliability systems.

BAE Systems has signed a seven-year support agreement with the Norwegian Army for its 144 CV90 Infantry Fighting Vehicles. This contract aims to enhance the fleet's readiness and modernization. The agreement includes component purchases, management, and engineering services, ensuring optimal vehicle performance through a System Integration Lab. BAE Systems Hägglunds, in collaboration with Norwegian industry partners, aims to keep the CV90 among the most advanced in service by implementing continuous upgrades. The contract also aligns with Norway's defense capabilities amid evolving threats.

BAE Systems has secured a $1.9 million contract from the U.S. Navy for maintenance and modernization of the USS Mitscher (DDG 57). The total contract value could rise to $101.2 million with exercised options. The work includes dry-docking, hull preservation, and upgrades to the Aegis combat system. It is scheduled to commence in March 2022 and conclude by April 2023. BAE Systems' Norfolk shipyard also conducts similar work on other vessels, underscoring its capacity in ship repair and maintenance.

BAE Systems has secured a five-year contract valued at up to $137 million to manage and sustain the U.S. Navy's C5ISR systems. This contract, awarded in November, encompasses lifecycle management, technical upgrades, and military personnel training. BAE's Vice President, Lisa Hand, emphasized their expertise in C5ISR sustainment, aimed at enhancing operational capabilities and system availability for military personnel.

BAE Systems has secured a five-year indefinite delivery, indefinite quantity contract valued at up to $154 million with the U.S. Navy’s Naval Air Warfare Center. The contract, awarded in November, focuses on the integration and sustainment of C5ISR systems, enhancing military communication capabilities. BAE will deliver lifecycle support and engineering services for various platforms, benefiting military and commercial communications.

Enerpac Tool Group Corp. (NYSE: EPAC) has appointed Lynn Minella to its Board of Directors effective January 25, 2022. With over 40 years of global human resources experience, Minella has held leadership roles at notable companies such as BAE Systems and Johnson Controls. Chairman Jim Ferland expressed confidence that her background will enhance board governance and strategic oversight as the company focuses on growth in its industrial tools sector.

Reliable Robotics has announced the appointment of Douglas Coleman as Chief Legal Officer and A.C. Charania as Vice President of Product Strategy. Coleman, with a 30-year legal career in aerospace, will manage legal operations and compliance, while Charania will drive product strategy and engage partners. These hires aim to enhance the company’s growth and prepare for the certification of its autonomous aircraft system for commercial use, particularly in cargo. The CEO emphasized that this team expansion is crucial for achieving the company's ambitious automation goals.

BAE Systems has secured a $493 million contract modification from Lockheed Martin to enhance the electronic warfare (EW) system for the F-35 Lightning II. This upgrade aims to improve the fighter's ability to detect and counteract developing electromagnetic threats. The project involves delivering advanced core hardware and engineering support for the AN/ASQ-239 EW mission system. BAE Systems emphasizes the capability's potential for future upgrades, aligning with U.S. Department of Defense strategies for continuous improvement.