Saturday, April 10, 2010

DTN News: EADS Close To Decision On U.S. Tanker Bid

DTN News: EADS Close To Decision On U.S. Tanker Bid Source: DTN News / Reuters (NSI News Source Info) PARIS, France - April 10, 2010: Airbus parent EADS (Paris:EAD.PA - News) is close to a decision on bidding for a deal worth up to $50 billion to supply air tankers to the United States backed by a U.S. supplier, sources close to the matter said on Friday. The European company has been given extra time to decide whether to stay in the race after former partner Northrop Grumman (NYSE:NOC - News) pulled out on the grounds that the rules for the contest favored Boeing (NYSE:BA - News), a charge denied by Washington. Sources have said L3-Communications (NYSE:LLL - News) is seen as front-runner to be chosen as a top supplier to install sensitive electronics work if EADS, as observers expect, offers its Airbus A330 airframe against a redesigned Boeing 767. One source, however, said EADS North America was still examining two alternative offers from Raytheon (NYSE:RTN - News) and the U.S. unit of Britain's BAE Systems (LSE:BAES.L - News). Discussions with the three companies were disclosed by Reuters earlier this week. EADS was junior partner to Northrop when the transatlantic team won a previous contest to supply the planes in 2008, but the deal was overturned after a protest from Boeing. This time EADS has been invited to bid through its North American subsidiary as the senior partner or prime contractor, handing it an opportunity to raise its profile in the lucrative U.S. defense market while bringing in a local partner. EADS executives meeting on Friday will discuss whether to pursue that opportunity or conserve resources for cash-hungry aircraft development projects in Europe. Sources said it was unclear whether a final decision would be taken then. An EADS spokesman declined to confirm Friday's talks, also reported by France's La Tribune, but said: "Everyone is working hard to put together all the necessary facts to take a decision as soon as possible." Boeing and supporters in Congress have complained that EADS was given an extra 60 days until July to enter a bid, saying this adds an unjustified wait to years of delay in replacing the U.S. Air Force's aging fleet of refueling planes. The U.S. firm said last week it was reviewing all options. Sources on both sides of the Atlantic have said EADS is leaning toward bidding despite some internal reservations about embarking on a major new campaign shortly after a recent funding crisis on its European A400M military airlifter. Airbus Military meanwhile said the second A400M test plane had successfully carried out a maiden flight on Thursday. (Reporting by Matthias Blamont, Tim Hepher; editing by Simon Jessop)

DTN News: ITT Corporation Opens Office In New Delhi, India

DTN News: ITT Corporation Opens Office In New Delhi, India Source: DTN News / ITT Corporation (NSI News Source Info) NEW DELHI, India - April 10, 2010: ITT Corporation (NYSE:ITT - News) today announced the opening of ITT Defence International Inc., the company’s first defence-focused office in India. The new office was opened today in the capital of New Delhi, where it will be accessible to many government entities. ITT Defence International Inc. will focus on delivering ITT’s portfolio of defence and information solutions to the Indian market. “India requires sophisticated defence technologies, and ITT is committed to working with the Indian Ministry of Defence to deliver our best solutions for their military and home affairs operations,” said David Melcher, president of ITT Defense & Information Solutions. “Opening a local office emphasizes our long-term commitment to the growing Indian market.” ITT will offer a range of defence solutions for the Indian market including night vision technology, tactical radios and global air traffic management. Ron Smith, vice president of business development and general manager of ITT Defence International, will lead the office initiatives and day-to-day operations. “We are excited to establish a new office in India,” said Smith. “It is a natural expansion for ITT and will allow us to deliver high-performing defence solutions and technologies for the region.” ITT, a top-10 U.S. defence contractor, recently realigned its Defense & Information Solutions business segment to meet the emerging needs of its global customers. The realignment will allow ITT to deliver broader solutions to customer needs, as the company expands outside the United States. ITT Defence International in India is the company’s second international defence office. ITT Defence Ltd., in Basingstoke, England has been in operation since 1993. About ITT Corporation ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defence and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company generated 2009 revenue of $10.9 billion.

DTN News: Embraer And Austral Seal Contract For 20 Embraer 190 Jets

DTN News: Embraer And Austral Seal Contract For 20 Embraer 190 Jets *Agreement announced in May 2009 is finalized and deliveries begin in July Source: DTN News / Int'l Media (NSI News Source Info) SAO JOSE DOS CAMPOS, Brazil, - April 10, 2010: The contract for the sale of 20 EMBRAER 190 jets to Austral Lineas Aereas, of Argentina, was finalized. The agreement was announced in May 2009, and was conditioned on fulfilling several requirements, which were finalized. From the 20 jets on order, three were already included in the firm order backlog of the first quarter of 2010, as "Undisclosed". The EMBRAER 190 jets ordered by the Argentine airline are of the Advanced Range (AR) model, and can fly nonstop for 2,400 nautical miles (4,400 km). The passenger cabin configuration, with four seats per row, is very comfortable and will have a total of 96 seats divided into two classes: eight in the executive and 88 in the economy. Furthermore, all passengers will have a modern inflight entertainment system with individual monitors. Austral will use the aircraft mainly to substitute older jets on domestic routes, to increase current flight frequencies, and to serve new cities. The modern and comfortable E-Jets will allow the airline to fly any route within Argentina's territory, nonstop. The EMBRAER 190 is one of four models of the EMBRAER 170/190 E-Jets family and entered operation in 2005. The broad customer base is comprised of 56 companies in 39 countries. With over 620 units in operation, these aircraft have transported 200 million passengers worldwide. Note to Editors Embraer (Empresa Brasileira de Aeronautica S.A. - NYSE: ERJ; BM&FBovespa: EMBR3) is the world's largest manufacturer of commercial jets up to 120 seats, and one of Brazil's leading exporters. Embraer's headquarters are located in Sao Jose dos Campos, Sao Paulo, and it has offices, industrial operations and customer service facilities in Brazil, China, France, Portugal, Singapore, and the United States. Founded in 1969, the Company designs, develops, manufactures and sells aircraft for the commercial aviation, executive aviation, and defense segments. The Company also provides after sales support and services to customers worldwide. On March 31, 2010, Embraer had a workforce of 16,792 employees – not counting the employees of its partly owned subsidiaries – and its firm order backlog totaled US$ 16.0 billion.

DTN News: Indian Prime Minister Manmohan Singh Leaves For US, Brazil -- To Attend Summits

DTN News: Indian Prime Minister Manmohan Singh Leaves For US, Brazil -- To Attend Summits Source: DTN News / Int'l Media (NSI News Source Info) NEW DELHI, India - April 10, 2010: Indian Prime Minister Manmohan Singh Saturday left for the US and Brazil to attend a nuclear and two multilateral summits during which he will hold talks with the leaders of the US, China, Russia and France. The prime minister's special aircraft took off from the Indian Air Force station here at 9.40 a.m. Manmohan Singh will first attend the Nuclear Security Summit hosted by Obama in Washington. In Brasilia, he will take part in the India-Brazil-South Africa (IBSA) and Brazil-Russia-India-China (BRIC) Summits hosted by President Lula da Silva. In Washington, the Indian leader will meet Presidents Barack Obama of the US, Nursultan Nazarbaev of Kazakhstan and Nicolas Sarkozy of France, Prime Minister Stephen Harper of Canada and other world leaders. In Brasilia, he will have bilateral meetings with Presidents Lula da Silva of Brazil, Hu Jintao of China and Dmitry Medvedev of Russia. In a departure statement released late Friday, Singh said India was a "major stakeholder" in addressing issues related to nuclear security. "I expect the summit to focus on nuclear terrorism and proliferation of sensitive nuclear materials and technologies. These are legitimate concerns which require firm responses," he said. "India has a well-developed indigenous nuclear energy programme, which dates back six decades. We have an impeccable record of security, safety and non-proliferation which reflects our conduct as a responsible nuclear power." He said India had been a consistent advocate of complete and universal global nuclear disarmament. "We were among the first countries to call for a world free of nuclear weapons. I am encouraged that this approach is finding greater resonance today. "Nuclear energy is poised to play a growing role in addressing the developmental challenges of our times." "This will be possible only if we, as individual nations, and as a global community ensure the highest standards of security which reinforce public faith in the benefits of nuclear science." He said India was "an important stakeholder in this global endeavour". Manmohan Singh described the IBSA and BRIC as "groupings (that) reflect the growing role of emerging economies in shaping the global economic order". He said the IBSA "encompasses a wide range of activities which supplement the excellent bilateral relations we enjoy with each of these countries. Our coordination on important international issues has expanded, and our trilateral cooperation is beginning to bear fruit in many sectors. "The BRIC countries are among the largest and fastest growing economies with rich human and material resources. They represent the future of the global economic landscape. "We have a high stake in the revival of the global economy, an open trading system, energy security, combating climate change and addressing non-traditional threats to international security. "Relations with Brazil are an important pillar of our policy towards Latin America and have witnessed substantial expansion in recent years."