MRAP-ATV Fallout Leads To Navistar Layoffs
July 13, 2009 by Matthew Potter · Comment
Filed under: Business Line, Companies, Contract Awards, Department of Defense, Events, Mississippi, Navistar, Restructuring, Services, production program
Filed under: Business Line, Companies, Contract Awards, Department of Defense, Events, Mississippi, Navistar, Restructuring, Services, production program
Oshkosh won the MRAP-ATV contract for a new vehicle for use in Afghanistan. One of the losing bidders was Navistar who had sold several thousand MRAP vehicles for use in Iraq to the U.S. Department of Defense.
Now with the fact that they did not win the contract to build the new vehicles for use in Afghanistan the company has announced layoffs at their Mississippi plant. This illustrates one of the problems with defense contracting. If you don’t continue to win contracts to provide systems or services you will eventually wither. Defense acquisition is normally for a certain number of units or for a period of time that will end. Companies win or lose contracts and that leads to contractions or expansions in work forces.
Textron to Sell Unit to Raise Cash
February 28, 2009 by Matthew Potter · Comment
Filed under: Acquisitions, Business Line, Events, Federal Budget Process, Military Aviation, Woodward Governor, commercial aviation, production program
Filed under: Acquisitions, Business Line, Events, Federal Budget Process, Military Aviation, Woodward Governor, commercial aviation, production program
Textron Incorporated has been struggling of late due to downturns in the business jet market and the cancellation of the RH-70 Armed Reconnaissance Helicopter (ARH) contract that its component, Bell, was developing. Earlier this month Forbes reported that the company was looking at possibly selling portions of itself to keep cash flow going. At that time the discussion was about its finance business, but now CNNMoney.com writes that Textron agreed to sell its aircraft control and fuel management development and manufacturing group, HR Textron. This group will be purchased by Woodward Governor for about $365 million. This is to help that company expand its business in the airframes systems market. As there continue to be changes in the defense budget there will be more fallout among the defense industry. The Nineties saw significant mergers and contractions and that is certainly possible in the future as the U.S. military purchases less-and-less big ticket systems.
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