Wednesday, June 24, 2009

UPDATE 2-Boeing delays Dreamliner test flight again

* Boeing 787 delayed
* First flight and delivery will be rescheduled
* Company will update financial outlook in July
* Shares fall more than 7 percent

By Kyle Peterson
CHICAGO, June 24 (Reuters) - Boeing Co (BA.N) on Tuesday said the first test flight of its long-delayed 787 Dreamliner would be postponed again, a move sure to disappoint investors and customers who have ordered the revolutionary carbon-composite aircraft. In a statement, the No. 2 planemaker did not give a new date for the first flight or the first delivery, which also would be rescheduled. The aircraft, already two years behind its original schedule, was to fly for the first time in the second quarter of 2009.
Boeing said it delayed the test flight to reinforce an area within the side-of-body section of the aircraft.
"Structural modifications like these are not uncommon in the development of new airplanes, and this is not an issue related to our choice of materials or the assembly and installation work of our team," Scott Carson, chief executive of Boeing Commercial Airplanes, said in a statement.
Boeing shares fell 7.8 percent, or $3.66, to $43.25 on the New York Stock Exchange.
The date of the first test flight has been delayed five times because of production problems and a two-month labor strike. The latest postponement could be a blow to the credibility of the company and its CEO James McNerney, who said as recently as May that the plane would fly in June.
"It's a setback that's going to disappoint investors. Boeing's shares will suffer a near-term setback," said Jack Ablin, chief investment officer at Harris Private Bank.
"I'm hopeful that this issue can be resolved quickly," Ablin said. "But my sense is that if it's big enough to delay the introduction, then this is a serious concern."
Boeing said its financial outlook would be updated in July to reflect any impact from the new delay.
Chicago-based Boeing and rival Airbus (EAD.PA) are being hit hard as carriers and cargo operators grapple with economic difficulties in many parts of the world. So far this year, Boeing has seen a net 45 cancellations for the 787.
In early June, Boeing said it had more than 50 customers who have placed orders for more than 850 of the airplanes.
Boeing had originally planned to fly the Dreamliner in the summer of 2007. But the date was pushed back four times.
The carbon-composite 787 promises to usher in an era of lighter, more fuel-efficient planes. With oil near $70 a barrel, cost conscious airlines are desperate for lower jet fuel bills.
"In the long term, it's going to put the break-even point for the 787 probably a little further out and it's going to increase the cost of development," said Alex Hamilton, an analyst at Jesup & Lamont Securities.
"I am a little surprised," he said. "I think a lot of confidence has been blown." (Additional reporting by Karen Jacobs; Editing by Lisa Von Ahn and Maureen Bavdek)

Northrop Grumman Signs Mentor-Protege Agreement With MILVETS

HERNDON, Va., June 24, 2009 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC - News) has signed a U.S. Department of Homeland Security (DHS) mentor-protege agreement with MILVETS Systems Technology Inc., Orlando, Fla. Northrop Grumman developed the mentor-protege relationship with MILVETS to continue their successful execution of DHS programs.
MILVETS, established in 1986, is a service-disabled veteran-owned, HubZone-based, small disadvantaged business. The company offers engineering services, programming, training, data processing and facilities management services for commercial and government clients.
"This mentor-protege agreement provides Northrop Grumman Technical Services with an outstanding opportunity to complement our existing supply chain capability," said Vic Obringer, supply chain management director for Northrop Grumman's Technical Services. "It also allows us to enhance relationships with our strategic small business partners, such as MILVETS, through interaction with our business development, program management, procurement and proposal teams."
Under the DHS-approved three-year agreement, Northrop Grumman will mentor MILVETS in several areas including organizational management, business development, financial management, training, ISO compliance and technical assistance. The core objective is to enhance MILVETS' ability to perform as a subcontractor and teaming partner with prime contractors and other businesses, DHS, and other federal agencies.
DHS' mentor-protege program was created to help small businesses compete for and win federal contracts by establishing long-term relationships with large defense contractors.
Since 1992, Northrop Grumman has mentored approximately 100 small businesses and currently has 25 active mentor-protege agreements. Northrop Grumman has received 20 Nunn-Perry Awards from the U.S. Department of Defense since 1995 for its work with protege companies.
Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.
Jeff Lacap
Northrop Grumman Technical Services
(703) 713-4488
Leah Smith
Northrop Grumman Technical Services
(703) 713-4616

V-22 Osprey aircraft underperformed in Iraq-report

By Jim Wolf
WASHINGTON, June 24 (Reuters) - A revolutionary tilt-rotor aircraft built by a team of Boeing Co (BA.N) and Textron Inc (TXT.N) underperformed in Iraq, may fall short in Afghanistan and the Pentagon should review whether to buy more, congressional investigators said on Tuesday.
The Marine Corps model of the V-22 Osprey "has not performed the full range of missions anticipated" in Iraq, the Government Accountability Office said in a report prepared for a congressional hearing.
Twelve of the aircraft were deployed to Iraq from October 2007 until April 2009 and the Marines want to take the Osprey to Afghanistan.
Tests have raised questions about its ability to operate in "threat environments" higher than existed during its Iraq deployment, GAO said.
The aircraft flies like a helicopter for takeoffs and landings, then swivels its rotors to gain the speed and range of a fixed-wing aircraft. It is designed to transport combat troops, supplies and equipment for the Marines and to support other armed services. Its development was dogged by fatal crashes, including one in 1992 that killed seven.
In Iraq, the V-22s mission capability and full mission capability rates -- key measures of its suitability and effectiveness -- fell significantly below required levels and significantly below rates of the helicopters it is to replace, GAO said.
Among other problems, maneuvering limits and "challenges in detecting threats" may affect air crew ability to carry out evasive actions, GAO said. It added the aircraft's shipboard operations were hampered by its large size and repair parts inventory.
"Identified challenges could limit the ability to conduct worldwide operations in some environments and at high altitudes similar to what might be expected in Afghanistan," the report said.
Although efforts are under way to address the shortcomings, "some are inherent in the V-22's design," GAO said. The Marine Corps has praised its performance in Iraq, saying the three squadrons consistently fulfilled their assigned missions.
Adding to problems outlined by GAO, V-22 costs have risen sharply above initial projections. In 1996, the plan was to build nearly 1,000 of them in 10 years at $37.7 million each. Now, the plan is for fewer than 500 at $93.4 million apiece -- a procurement unit cost jump of 148 percent, GAO said.
The study recommended that Defense Secretary Robert Gates look at possible alternatives to the V-22 to meet the Marine Corps' current and future lift needs and possibly other services' use.
After receiving the report at a hearing, the chairman of the House of Representatives Committee on Oversight and Government Reform called for halting V-22 production.
"It's time to put the Osprey out of its misery," said Chairman Edolphus, a New York Democrat. "To sum up, it has problems in hot weather, it has problems in cold weather, it has problems with sand, it has problems with high altitude and it has restricted maneuverability.
"The list of what the Osprey can't do is longer than the list of what it can do."
The Marine Corps did not immediately respond to a request for comment, nor did Textron or Boeing.
In March 2008, the Navy awarded the Textron-Boeing team a five-year, $10.4 billion contract for 141 MV-22s for the Marines and 26 CV-22s for the Air Force to augment the Special Operations Command.
In a response included in the report, the Defense Department concurred with the GAO's call for a strategy to improve system "suitability," reduce operational costs and review future budget requests. But the Pentagon disagreed with a call for a new V-22 alternatives analysis. (Reporting by Jim Wolf; editing by Andre Grenon)

Zebra Imaging Recognized for Industrial Security Excellence With James S. Cogswell Award

Prestigious Award Presented by Defense Security Service Acknowledges Extraordinary Security Practices with Sustained Degree of Excellence and Innovation
AUSTIN, Texas, June 24 /PRNewswire/ -- Zebra Imaging, Inc., the world's foremost provider of holographic display and visualization technologies, announced today it received the highest honor presented to a government contractor by the Defense Security Service (DSS), the 2009 James S. Cogswell Outstanding Industrial Security Achievement Award.
Zebra Imaging was one of only 14 companies of the 12,500 plus eligible contractors to receive the Cogswell Award. To be considered for this prestigious honor, nominees must go through a rigorous selection process that requires extraordinary security practices on behalf of management and the facility workforce. Companies must demonstrate extraordinary excellence involving a total team effort by top management, the facility security officer and the facility work force.
"The Cogswell Award represents Zebra Imaging's commitment to excellence and our dedication to protecting critical defense information during a time of heightened national security," said Al Wargo, CEO of Zebra Imaging. "It is an honor to be recognized for our work by the DSS and we accept this award with the highest regard."
The Cogswell Award facility nominees must have a minimum of two consecutive superior industrial security review ratings, be vetted by more than 20 government agencies, show a sustained degree of excellence and innovation in security program management, and have a longstanding record of outstanding security practices based on standards set by the National Industrial Security Program.
Zebra Imaging is the only company that can develop true 3-D images for critical applications such as military planning and security. The company designs, develops and manufactures full color, 3-D holographic display systems that provide greater certainty which leads to more effective decision making, whether preparing mission plans or conducting tactical operations.
The Cogswell Award, established in 1966, was named in honor of the late Air Force Col. James S. Cogswell, the first chief of industrial security within the Department of Defense. Cogswell was responsible for developing the basic principles of the Industrial Security Program, which includes an emphasis on the partnership between industry and government to protect classified information. This partnership ultimately ensures the greatest protection for the U.S. war fighter and our Nation's classified information. The Cogswell Award recognizes industrial security excellence and is the most prestigious honor for cleared industry.
About Zebra Imaging
Founded in 1996 and headquartered in Austin, Texas, Zebra Imaging, Inc. designs, develops and manufactures state-of-the-art 3-D holographic displays for a variety of 3-D visualization applications in both government, military and commercial markets which dramatically improve situational awareness, collaboration and decision-making. Zebra Imaging displays are portable, scalable, intuitively-understood and easily viewable to help customers turn design data into reality. Customers include Federal and Department of Defense agencies; leading architecture, design and planning firms; civilian topographic agencies and various groups who need to clearly and effortlessly demonstrate sophisticated 3-D data in a comprehensive, durable and portable medium. For more information visit:
Media Contact:
Travis Williams
Lois Paul & Partners
(512) 638-5315

Augusta Systems,

Augusta Systems EdgeFrontier Integrates Data from Sensors & Unmanned Vehicles, Creates Platform for Autonomous Operations
MORGANTOWN, W.Va., June 24 /PRNewswire/ -- The U.S. Naval Air Systems Command (NAVAIR) has awarded a $1.3 million contract to Augusta Systems, Inc., provider of technologies that power the intelligent convergence of devices, systems and networks, to test and enhance a distributed, intelligent network capable of managing single and multiple "swarms" of unmanned air, ground and sea vehicles, unattended ground sensors, video cameras, and other devices. Powered by Augusta Systems EdgeFrontier products, the intelligent network enables the vehicles and devices to act on their own, in an autonomous manner, based upon data sent from their own swarm or other swarms.
"Augusta Systems EdgeFrontier powers the intelligent convergence of data from diverse sources, providing a platform for the Navy's intelligent, swarming network," said Patrick Esposito, president and chief operating officer of Augusta Systems. "This network can help the Navy to achieve important technology objectives, including system interoperability, network-centric operations and the enhancement of its unmanned vehicle capabilities."
EdgeFrontier products provide complete platforms for building and managing complex monitoring, control and automation solutions. EdgeFrontier supports integration and normalization of data, events and control functions from diverse devices, systems and networks, regardless of manufacturer or communications protocol. In addition, EdgeFrontier provides structures for event processing and configuration of event or policy-based actions through a policy engine.
Through the effort, Augusta Systems will support robustness and scalability testing and development of functional enhancements for the intelligent network, enabled through the Augusta Systems platform technologies. The intelligent network demonstrates important capabilities, including:
Diverse vehicle, sensor and device data integration, correlation and processing;
Adaptive, cooperative behavior on-board the vehicles and at the point of the sensors and devices through third-party swarming software;
Relay of requested data to multiple users from multiple vehicles, sensors and devices; and,
Intelligent communication, independent of user operations.
"Through our technologies, NAVAIR can demonstrate the integration and automation of a diverse network of unmanned vehicles, sensors and other devices," Esposito said. "Importantly, this includes distributed data convergence, enabling these assets to process and share data in the field. This enhances real-time information sharing and response, an important factor in robust intelligent, surveillance and reconnaissance capabilities."
Augusta Systems:
Augusta Systems, Inc. powers the intelligent convergence of devices, systems, and networks. The award-winning Augusta Systems(R) EdgeFrontier(R) products provide configurable technology platforms for building and managing complex monitoring, control, and automation solutions, including applications for safety and security, energy and utility management, asset tracking, building management, and other business functions.
For more information,

UPDATE 1-Bombardier, CAW reach tentative deal, avoid strike

* CAW says deal addresses temp workers, retiree benefits
* Ratification votes to be held on Sunday
* Popular Q400 turboprop built at Toronto plant

By John McCrank
TORONTO, June 24 (Reuters) - A strike by nearly 3,000 workers at Bombardier's de Havilland aircraft plant in Toronto has been avoided after the company and the Canadian Auto Workers reached a last-minute contract deal, the union said on Tuesday.
The company and the CAW bargained through the night and beyond the union's 10 a.m. (1400 GMT) Tuesday strike deadline, to reach a tentative agreement that addressed the issues the union said it found contentious.
"The company wanted to hire temporary workers and that was not going to happen at all, I mean, we're building planes here, this isn't some kind of unskilled operation," said Jerry Dias, assistant to CAW President Ken Lewenza.
Dias also said Bombardier agreed to continue providing healthcare benefits to the plant's 3,000 retirees and surviving spouses.
A spokesman for the company said Bombardier would reserve its comments until after the agreement was ratified.
Ratification votes are scheduled for Sunday.
Bombardier assembles its popular Q400 turboprop aircraft at the plant, as well as the Global Express corporate jet and the wings for the Lear 45 corporate jet.
The company has been hit by a decline in business jet orders, as well as deferrals and cancellations, but it anticipates a 10 percent increase in commercial aircraft deliveries this year.
As of the end of April, the company had a backlog of 102 Q400 aircraft to be delivered to customers.
Shares of Bombardier were down 5 Canadian cents at C$3.27 on the Toronto Stock Exchange on Tuesday afternoon. (Reporting by John McCrank; editing by...)

OMG Recognized in Modeling Category by SD Times 100 Awards

June 24, 2009, 8:59 am EDT
NEEDHAM, Mass.--(BUSINESS WIRE)--OMG™ today announced that it was a winner in the “Modeling” category in the “2009 SD Times 100” published in the June 15, 2009, edition of BZ Media’s SD Times. The full article may be found at
OMG is an open membership, international organization of information system vendors, software vendors, and IT end-user companies. Through its members, the OMG produces and maintains specifications for interoperable software for the enterprise and Internet, for real-time and safety-critical applications, for embedded systems, and other networked environments.
In the Modeling category, SD Times notes, “The bigger the project, the more important modeling becomes to achieving success;” and “We recognize four organizations that have demonstrated leadership by advancing the state of modeling in software development, whether through the use of specifications, integration or tool usability.”
“The software development industry has always been led by innovation, and that’s true even in today’s challenging economic climate,” said Alan Zeichick, Editorial Director of BZ Media’s SD Times. “When choosing the 2009 SD Times 100 winners, we carefully considered each organization’s products and services, reputation with enterprise development managers, and the new ideas and thought leadership that it has brought to the industry. Thanks to companies like OMG, the art of software development continues to advance at a rapid pace.”
“OMG and our members have been advancing software standards for 20 years. We are happy to see that our hard work and dedication to software development have been recognized by the industry and SD Times,” said Richard Mark Soley, Ph.D., chairman & CEO of OMG.
About BZ Media
BZ Media LLC® ( is a high-tech media company combining the best of print and Web-based publishing, offering industry-leading magazines, newspapers, Web sites and conferences.
BZ Media’s SD Times® ( is the twice-monthly newspaper of record for the software development industry. SD Times reaches more than 60,000 subscribers in 131 countries. SD Times was recognized by Media Business Magazine as the fastest-growing IT publication in 2007.
About OMG
OMG is an international, open membership, not-for-profit computer industry consortium that in 2009 is celebrating its 20th Anniversary. OMG Task Forces develop enterprise integration standards for a wide range of technologies, including: Real-time, Embedded and Specialized Systems, Analysis & Design, Architecture-Driven Modernization and Middleware and an even wider range of industries, including: Business Modeling and Integration, C4I, Finance, Government, Green Computing, Healthcare, Insurance, Legal Compliance, Life Sciences Research, Manufacturing Technology, Robotics, Software-Based Communications and Space.
OMG’s modeling standards, including the Unified Modeling Language™ (UML®) and Model Driven Architecture® (MDA®), enable powerful visual design, execution and maintenance of software and other processes, including IT Systems Modeling and Business Process Management. OMG’s middleware standards and profiles are based on the Common Object Request Broker Architecture (CORBA®) and support a wide variety of industries.
More information about OMG can be found at OMG is headquartered in Needham, MA, USA.
Note to editors: MDA, Model Driven Architecture, OMG Logo, XMI, UML, UML logo and CORBA are registered trademarks, and OMG, Object Management Group, Business Ecology, Actionable Architecture, SOA Consortium, SysML, SoaML, MOF, MDA Logos, BPMN, OCRES, OCUP, OCEB, Green Computing Maturity Model, GCMM and Unified Modeling Language are trademarks of Object Management Group. All other trademarks are the property of their respective owners.
OMGStephanie Covert, 843-737-0637

TAT Technologies Reports Transfer of Listing to The Nasdaq Global Market

GEDERA, Israel, June 24 /PRNewswire-FirstCall/ -- TAT Technologies Ltd. (NASDAQ: TATTF - News), reported today that effective June 24, 2009, the company's ordinary shares will begin trading on the Nasdaq Global Market. The company's symbol (TATTF) will remain the same.
About TAT Technologies Ltd.
TAT provides a variety of services and products to the military and commercial aerospace and ground defense industries through its Gedera facility in Israel, as well as through its subsidiaries, Bental Industries Ltd., or Bental, in Israel and Limco in the U.S.
TAT operates under four operational segments: (i) OEM of Heat Transfer products (ii) OEM of Electric Motion Systems (iii) MRO services; and (iv) parts services, each with the following characteristics.
TAT's activities in the area of OEM of Heat Transfer products primarily relate to the (i) design, development, manufacture and sale of a broad range of heat transfer components (such as heat exchangers, pre-coolers and oil/fuel hydraulic coolers) used in mechanical and electronic systems on-board commercial, military and business aircraft; and (ii) manufacture and sale of environmental control and cooling systems and (iii) a variety of other electronic and mechanical aircraft accessories and systems such as pumps, valves, power systems and turbines.
TAT's activities in the area of OEM of Electric Motion Systems primarily relate to the design, development, manufacture and sale of a broad range of electrical motor applications for airborne and ground systems. TAT activities in this segment commenced with the acquisition of Bental in August 2008 and accordingly, the results in this segment for fiscal year 2008 are not compared with the previous years.
TAT's MRO services include the remanufacture, overhaul and repair of heat transfer equipment and other aircraft components, APUs, propellers and landing gear. TAT's Limco subsidiary operates FAA certified repair stations, which provide aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT's parts segment focuses on inventory management and sale of APU parts, propellers and landing gear. TAT offers parts services for commercial, regional and charter airlines and business aircraft owners.
TAT's executive offices are located in the Re'em Industrial Park, Neta Boulevard, Bnei Ayish, Gedera 70750, Israel, and TAT's telephone number is +972-8-862-8500.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, the price and continuity of supply of component parts used in our operations, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.
For further information, please call Mr. Yaron Shalem, the Company CFO, at +972-8-8628503 or

Satcon Delivers Fully Integrated Utility Class One Megawatt Power Conversion Solution

Industry Leader Expands One Megawatt Solution Portfolio with Next Generation One Megawatt Platform Prism® for Utility Scale Solar
June 24, 2009, 8:30 am EDT
BOSTON--(BUSINESS WIRE)--Satcon Technology Corporation (NASDAQ CM: SATC), a leading provider of utility scale distributed power solutions for the renewable energy market, announced today the general availability of Prism®, a fully integrated one megawatt medium voltage solution optimized for utility scale solar PV installations.
Leveraging Satcon’s industry standard setting PowerGate® Plus 500kW solar PV inverters, Prism is a fully customizable one megawatt platform, complete with factory integrated step-up transformers, switchgear, and electronics. The solution will be delivered complete in an all-climate outdoor enclosure and ready to connect to the PV array and utility grid, enabling rapid installation through a modular prepackaged design.
Prism will dramatically increase the ease and speed of a typical utility scale PV installation, while also providing the unparalleled power production efficiencies that can only be realized through this full factory integrated and tested power conversion platform. Satcon’s Prism one megawatt integrated medium voltage solution is based on factory integrated pairs of Satcon’s highly efficient PowerGate Plus 500kW solar PV inverters, which recently eclipsed 150MW of total units installed globally.
“We are at an inflexion point in the solar PV industry, where utility scale projects are becoming more prevalent,” commented Dr. Leo Casey, Chief Technology Officer and Vice President of Engineering for Satcon. “Satcon’s solutions have been used on some of the largest renewable energy sites in the world with hundreds of millions of grid connect kW hours delivered to date. Our customers were asking for a highly efficient, completely integrated package for large scale installations, and Prism offers the most flexible, efficient and powerful solution on the market today.”
The Prism solar PV solution is available for order immediately. The complete solution will come with Satcon’s standard five-year warranty included, and available optional warranty terms up to 20 years. Integrated transformers and switchgear are fully customizable, and Satcon system consultants are available to assist with project requirements and configurations.
About Satcon
Satcon Technology Corporation is the leading provider of utility scale distributed power solutions for the renewable energy market, enabling the industry’s most advanced reliable and proven clean energy alternatives. For over 24 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, and energy storage systems. To learn more about Satcon, please visit
Safe Harbor
Statements made in this press release that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectation. Additional information concerning risk factors is contained from time to time in the company's SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.
Satcon Technology Corporation
Alida Bangs,
Media Relations
Satcon Technology Corporation
Leah Gibson,
Investor Relations Manager

UPDATE 1- SAIC names new CEO; Dahlberg steps down

NEW YORK, June 24 (Reuters) - SAIC Inc (SAI.N), which provides technical services to the U.S. government, said on Tuesday that a former BAE Systems Plc (BAES.L) executive would assume its top post after the current chief executive steps down in September.
Walter Havenstein, former president and CEO of aerospace and defense company BAE's U.S. subsidiary, will become the head of SAIC in September, the company said in a statement.
SAIC said current CEO Ken Dahlberg had told the board that he would step down from his post in September, in accordance with the company's mandatory retirement policy for executive officers.
Dahlberg will continue as chairman of the board through the annual meeting of stockholders in June 2010. (Reporting by Deepa Seetharaman; Editing by Lisa Von Ahn)