Wall St gains as oil jumps; Boeing leads Dow

NEW YORK August 28, 2009, 7:17 am EDT (Reuters) - U.S. stocks closed higher on Thursday as investors turned back an early sell-off, thanks to a rebound in oil prices.
The Dow posted its eighth straight gain, led by Boeing Co (NYSE:BA - News), which rose 8.4 percent to $51.82. The U.S. aircraft manufacturer said its long-delayed 787 Dreamliner would make its first flight by the end of the year.
For the first three days of the week, stocks rose early and fell later, but the pattern reversed on Thursday as shares built momentum throughout the session in tandem with assets identified with improved demand, such as crude oil.
U.S. front-month crude oil prices rose $1.06 to settle at $72.49 a barrel, after dipping as low as $69.83 earlier in the day.
"The market turned around when oil took off," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York.
"Energy stocks were getting hit, and when they took off, the energy stock rally brought the whole market up."
ConocoPhillips (NYSE:COP - News) ended up 0.3 percent at $45.73.
The Dow Jones industrial average (DJI:^DJI - News) gained 37.11 points, or 0.39 percent, to end at 9,580.63. The Standard & Poor's 500 Index (^SPX - News) added 2.86 points, or 0.28 percent, to 1,030.98. The Nasdaq Composite Index (Nasdaq:^IXIC - News) rose 3.30 points, or 0.16 percent, to 2,027.73.
Once again, trading was dominated by a handful of troubled financial companies. The stock of bailed-out insurer American International Group Inc (NYSE:AIG - News) surged nearly 27 percent to $47.84 after the new chief executive, Robert Benmosche, told Reuters on Wednesday he did not favor a fire sale of its assets.
AIG's new CEO also said in the interview that in a year, people will say the company is performing well.
AIG's stock price has spiked since the beginning of August in a rally initially spurred by the insurance giant posting its first profit in seven quarters. Analysts have also cited a short squeeze as contributing to the run-up as short investors have given up on bearish bets.
According to data from the New York Stock Exchange, short interest in AIG fell 2 percent in the first half of August, compared with the end of July. About 18 percent of the stock is held short.
Citigroup Inc (NYSE:C - News) also jumped 9.1 percent to $5.05 on a report that hedge-fund manager John Paulson is buying the troubled bank's shares.
An S&P index of financial shares gained 1 percent to 197.83.
Dell Inc (NasdaqGS:DELL - News) was one of the Nasdaq's top gainers, up 6.7 percent at $15.65 after reporting better-than-expected profit and sales just before the market closed.
Analysts have pointed to light summer volume and caution over a potential pullback as the reason for the market's lackluster performance this week.
Adding to that caution are concerns that an economic recovery may end up being weaker or slower than originally anticipated. Expectations of a recovery have fueled a months-long rally that has pushed the S&P 500 up more than 50 percent from March's 12-year closing low.
Volume was light on the New York Stock Exchange, with 1.16 billion shares changing hands, below last year's estimated daily average of 1.49 billion. On the Nasdaq, about 2.16 billion shares traded, also below last year's daily average of 2.28 billion.
Advancing stocks outnumbered declining ones on the NYSE by a ratio of roughly 8 to 7.
On the Nasdaq, though, the opposite trend held sway: About 14 stocks fell for every 13 that rose.

CORRECTING and REPLACING Oshkosh Defense Selected to Produce U.S. Army's FMTV, Receives First Delivery Order for $280.9 Million

OSHKOSH, Wis.-- August 28, 2009, 6:28 pm EDT (BUSINESS WIRE)--Third graph, first sentence of release should read: The FMTV rebuy program is a five-year requirements contract award for the production of up to 23,000 vehicles and trailers as well as support services and engineering (sted The FMTV rebuy program is a five-year, indefinite delivery/indefinite quantity (IDIQ) contract award for the production of up to 23,000 vehicles and trailers as well as support services and engineering). The corrected release reads:
OSHKOSH DEFENSE SELECTED TO PRODUCE U.S. ARMY’S FMTV, RECEIVES FIRST DELIVERY ORDER FOR $280.9 MILLION
Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK - News), has been awarded a contract by the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for the U.S. Army’s Family of Medium Tactical Vehicles (FMTV) rebuy program.
“We feel privileged that the U.S. Army has selected Oshkosh to produce the FMTV, an important element to the Warfighter’s tactical vehicle fleet,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “This was a highly competitive bid. We look forward to working closely with our customer on this project to meet the needs of our troops, just as we have with our other products and services."
The FMTV rebuy program is a five-year requirements contract award for the production of up to 23,000 vehicles and trailers as well as support services and engineering. The FMTV is a series of up to 23 variant and 17 different models ranging from 2.5 ton to 5 ton payloads. The contract’s first delivery order is valued at $280.9 million for the production and delivery of 2,568 trucks and trailers. Initial test vehicle deliveries are planned for mid-2010, followed by production vehicle deliveries later in the year.
About Oshkosh Defense
Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit http://www.oshkoshdefense.com/
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corp. manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, BAI™, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to http://www.oshkoshcorporation.com/
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
Forward-Looking Statements
This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the consequences of financial leverage associated with the JLG acquisition, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; risks related to the required increase in the rate of production for the M-ATV and FMTV contracts, and the amount, if any, of additional orders for M-ATVs and/or FMTVs that the Company may receive; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof; risks related to reductions in government expenditures and the uncertainty of government contracts; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any duty, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Northrop to clean up Calif. water at Superfund site

*Northrop to build water cleanup system
*Cleanup costs for San Gabriel Valley now top $70 mln
By Gina Keating
LOS ANGELES, Aug 28 (Reuters) - Northrop Grumman Corp (NOC.N) on Thursday reached a settlement with U.S. environmental regulators that requires the aerospace giant to spend about $21 million to clean up groundwater pollution dating from World War II manufacturing through the 1980s.
Northrop operated three of 62 "source properties" that the U.S. Environmental Protection Agency (EPA) found had discharged contaminants into groundwater at a Superfund site in the San Gabriel Valley, northeast of downtown Los Angeles.
The EPA announced the settlment on Thursday in a statement.
The Northrop sites were not the largest source of pollution, said Dustin Minor, EPA's acting branch chief in EPA's Office of Regional Counsel. "They just really stepped up to the plate and worked with the other parties," which will help pay for the clean-up, he said.
A Northrop spokesman had no immediate comment on the settlement, which requires it to build a groundwater cleanup system that will pump out the contaminated water and remove "volatile organic compounds" from degreasers and metal cleaners used in area factories, EPA said.
The treated water will be used for drinking, water reclamation projects or discharged to surface water, EPA said.
The project is aimed at stopping the spread of a pollution plume that stretches six miles in length by one to two miles in width in underground aquifers that provide most drinking water to the valley's one million or so residents, Minor said.
The Superfund site is one of four areas of contaminated groundwater listed by EPA in the San Gabriel Valley in 1984.
The EPA plans to operate the groundwater cleanup system for about a decade while it formulates a plan to remove the contaminants from the aquifers, Minor said.
Northrop has already spent more than $10 million on remediation efforts under a 2002 EPA order, and total cleanup costs in the area so far have topped $70 million, the agency said. (Reporting by Gina Keating; editing by Carol Bishopric)

Boeing sees 787 flight this year, expects charge

ATLANTA (Reuters) On Thursday August 27, 2009, 10:40 am EDT - Boeing Co (NYSE:BA - News) said on Thursday its 787 Dreamliner would make its first flight by the end of this year, with initial delivery expected in the fourth quarter of 2010, and its shares shot up 8 percent. Reuters - The Boeing company's first 787 Dreamliner is readied for its first test flight, scheduled for June, at the ...
Alex Hamilton, an analyst with Jesup & Lamont Securities, said Boeing's statement helped ease some questions that have surrounded the carbon-composite 787.
"There was a lot of uncertainty and a lot of the chatter on the street was 'would this aircraft ever fly?'" he said. "It sort of ends the uncertainty."
Boeing, the No. 2 plane maker behind EADS (Paris:EAD.PA - News) unit Airbus, also plans to take a third-quarter charge. The manufacturer said it has concluded that the initial test-flight planes of the long-delayed 787 have no commercial market value because of necessary modifications that have been made.
It added that costs previously recorded for the first three test planes would be reclassified as a research and development expense, resulting in an estimated pretax charge of $2.5 billion, or $2.21 a share, against results for the third quarter.
Analysts were expecting a profit of $1.21 a share for the third quarter, according to Reuters Estimates.
Hamilton said the updated outlook likely meant Boeing would post a loss for the third quarter.
"This is money that was already spent and this is money that they're reclassifying as an R&D expense ... The message should be clear -- it's still an economically viable aircraft," Hamilton said.
The date of the first test flight has been delayed repeatedly because of production problems and a two-month labor strike.
The latest delay was in June, when Boeing said the plane would not fly as scheduled during the second quarter so it could address a structural problem.
The company, which had said earlier this year that the first 787 deliveries to customers could occur in the first quarter of 2010, also said it projects achieving a production rate of 10 airplanes per month in late 2013.
Boeing shares were up 8 percent, or $3.79, at $51.61 in morning New York Stock Exchange trading. Shares of 787 suppliers such as Spirit AeroSystems Holdings (NYSE:SPR - News) and Rockwell Collins (NYSE:COL - News) also gained.

Rolls-Royce to Begin Construction in Virginia

PRINCE GEORGE COUNTY, Va.-- On Thursday August 27, 2009, 3:18 pm EDT (BUSINESS WIRE)--Rolls-Royce, the global power systems company, is ready to begin construction at Crosspointe, its new aerospace facility in Prince George County, Virginia. Following a rigorous and competitive selection process, the company has selected the design-build firm of Haskell to undertake construction of the first building on site. Representatives from Rolls-Royce and design-build firm Haskell gather for the first time at Crosspointe. (Photo: Rolls-Royce)
This first building at Crosspointe will be a 140,000 square foot disc manufacturing facility. Discs, the part of a turbofan engine that contains the blades, are considered one of the most critical components of the engine. Discs manufactured at Crosspointe will be used in some of the company's newest civil aerospace products - the Trent 1000, Trent 900 and Trent XWB - optimized for the Boeing 787, Airbus A380 and A350 XWB respectively. Construction on this facility is expected to begin in late September or early October.
This initial phase of work - disc manufacturing - will support roughly 140 jobs. Disc production at Crosspointe will begin as soon as possible once the site is operational, currently expected in the fourth quarter of 2010.
Tom Loehr, Rolls-Royce Executive Vice President, Crosspointe said: "Our improving market position and significant growth in the past few years have delivered a record order book. Despite these challenging economic times, we are confident in our long-term growth and determined to maximize the opportunities provided by our technologies, people and global reach. Thanks to our partners, the Commonwealth of Virginia, Prince George County, the University of Virginia and Virginia Tech, Crosspointe will be a world-class aerospace facility and will play a key role in our future. We're delighted to be growing our footprint in Virginia and bringing the economic benefits associated with high value added manufacturing to the region."
Plans are also proceeding for the second building on site - a blisk manufacturing facility. Blisks, or bladed discs, incorporating fan blades and discs into a single piece, are designed for use in the next generation of gas turbine engines. Blisks manufactured at Crosspointe will be used in the F136 engine for the Joint Strike Fighter, the world's largest ever fighter program.
Crosspointe will be the largest Rolls-Royce site by area in North America, with ample space to accommodate suppliers' and partners' co-location in the future. It is also the first Rolls-Royce site built from-the-ground-up in the US.

Aero-Instruments Begins Delivery of FAA-Approved Replacement Pitot Probes for Airbus-Manufactured Aircraft

Company's air data sensors now available to address immediate needs on all A320, A330 and A340 aircraft

CLEVELAND, Aug. 27 /PRNewswire/ -- Aero-Instruments announced today that it has begun customer deliveries of Federal Aviation Administration-approved replacement Pitot Probes for installation on Airbus S.A.S.-manufactured aircraft. After 18 months of testing and evaluation, including stringent anti-icing and de-icing testing, the FAA approved Aero-Instruments' 0851HL-AI Pitot Probe for installation on the more than 4,500 Airbus A318, A319, A320, A321, A330 and A340 series aircraft in operation worldwide. Aero-Instruments is one of only three companies in the world whose Pitot Probes are approved for Airbus commercial aircraft.
The availability of the new Aero-Instruments devices helps meet increased worldwide demand for replacement Pitot Probes for Airbus-manufactured aircraft.
"The testing and approval of these precision-engineered parts was an appropriately rigorous process, and, now, we are ramping up our manufacturing quickly to help meet the increase in demand for replacement Pitot Probes," said Ryan S. Mifsud, Vice President / General Manager, Aero-Instruments. "Our ability to deliver such a high-performance product and superior customer service is essential to our customers. Products are being shipped as ordered, and we are building our inventory to help meet the needs of the Airbus fleet."
In granting Parts Manufacturer Approval (PMA) for the Aero-Instruments 0851HL-AI Pitot Probe, the FAA concluded that the part meets or exceeds the agreed upon certification plan, which was based on the requirements of TSO C-16A, including the anti-icing requirements outlined in SAE AS393, AS8006, and BS2G.135.
With this new FAA-PMA approval for Airbus-manufactured aircraft, Aero-Instruments is able to supply replacement Pitot and Pitot-Static Probes for after-market installation on the majority of aircraft the world's airlines operate. In addition to the certification for Airbus aircraft, Aero-Instruments is one of only two companies in the world with approval for replacement probes for Boeing-manufactured aircraft. Aero-Instruments received its first FAA certification for replacement parts for Boeing-manufactured commercial planes in 2006.
Aero-Instruments also manufactures Pitot Probes and related devices and systems for the general aviation, rotorcraft, defense, business jet and Unmanned Aerial Vehicle markets.
About Aero-Instruments
Aero-Instruments is one of the most trusted names in the design and manufacture of Air Data Sensors for aerospace applications. Founded in 1925, the privately held company based in Cleveland, Ohio, produces electrically heated Pitot Probes, Pitot-Static Probes and Static Pressure Ports for the aerospace and defense industries. Aero-Instruments' products are flying on tens of thousands of aircraft around the world, including commercial aircraft, military aircraft, business jets, general aviation, rotorcraft and Unmanned Aerial Vehicles. For more information, visit www.aero-instruments.com/

Sikorsky Aerospace Services Delivers HELOTRAC RL(R) Enhancements for U.S. Army Light Utility Helicopter Program

STRATFORD, Conn., Aug. 27 /PRNewswire/ -- Sikorsky Aerospace Services today announced it has delivered enhancements to the HELOTRAC RL(®) maintenance management system for the U.S. Army's UH-72A Lakota Light Utility Helicopter (LUH) program. Sikorsky Aerospace Services provides Contractor Logistics Support (CLS) to the LUH program and is the aftermarket business of Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp. The HELOTRAC RL maintenance management system enhancements include improvements to three primary features requested by the U.S. Army: safety, an operating and support management information system, and fleet management capabilities. The software update was recently launched into production.
"The HELOTRAC RL maintenance management system offers a low cost, commercial off-the-shelf solution that helps reduce the maintenance costs of the fleet, and enables additional fleet management opportunities," said David Adler, President, Sikorsky Aerospace Services. "The system has been well received by the units and we will continue to improve it to ease the maintenance burden on the warfighter."
The safety enhancement will provide the customer with improved message reporting, including airworthiness directives, alert service bulletins, service bulletins, service letters and service instructions. It allows the customer to generate reports based on aircraft selections and date ranges.
"Sikorsky designed, tested, and installed the U.S. Army-requested enhancements to the HELOTRAC RL software over the past year, meeting or exceeding the performance requirements of EADS North America and the U.S. Army," said John Burke, EADS North America's Vice President and Program Manager of the LUH program.
The OSMIS will allow the customer to perform quarterly comprehensive cost analysis reporting. The system report provides detailed information on discrepancies, scheduled and unscheduled maintenance, impact to non-mission capability, maintenance man hours, and repairable/consumable parts consumed for the LUH fleet.
The fleet management module will provide additional fleet management data to allow the customer to determine timely fleet and aircraft readiness.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture and service. Its Sikorsky Aerospace Services business designs and applies advanced logistics and supply chain solutions for commercial rotary, military rotary and fixed wing customers. United Technologies Corp., based in Hartford, Conn., provides a broad range of high technology products and support services to the aerospace and building systems industries worldwide.

Fullpower Introduces MotionX-GPS(TM) 7.0 for the iPhone

New Cool Course and Direction Up Maps Optimized for 3GS

SANTA CRUZ, CA--(Marketwire - 08/27/09) - MotionX(TM)-GPS, the top selling navigation application for the iPhone, launches an updated version with expanded features and functionality. MotionX-GPS V7 embeds the functionality of an advanced handheld GPS unit into a simple and intuitive iPhone application that is ideal for outdoor activities such as cycling, running, sailing, skiing, kayaking, flying, motorcycling and even hot-air ballooning! Marketwire - MotionX-GPS V7 now with new course-up and direction-up maps optimized for the iPhone 3GS ...
For example, hot-air balloon pilot Tony Cochran uses MotionX-GPS to create tracks for sharing with clients and maintaining a logbook of flights. Using MotionX's One-Click Share feature, he can e-mail track stats to clients with a link to view the track in Google Maps, as well as post directly to Facebook or Twitter to share with friends. He uses the GPX file from the e-mail to create graphic elevation profiles using uTrack and to post stunning 3D flight profiles in Google Earth. For more on Cochran's story click here.
"I use Fullpower's MotionX-GPS app for tracking pleasure balloon flights in Colorado," said Cochran. "Most of our clients like to know how high and how far we traveled during the flight, and MotionX-GPS makes it easy to share the flight specifics. I post the flight track to my Facebook page before we have even packed up the balloon. If you are looking for an app for any outdoor activity, MotionX-GPS is for you."
New Features in MotionX-GPS V7:
Direction-up maps and tracks are integrated with the 3GS compass, so you can orient the map to the direction of travel or to where the iPhone is pointing to enable easy navigating of saved tracks.
MotionX-GPS takes you more places than ever with the addition of three new Bing map types -- road, aerial and hybrid. For increased flexibility, the Bing maps integrate with the other MotionX map types including MotionX Open Road, MotionX Open Terrain and Google road, satellite and hybrid maps.
An optimized compass gives you the most accurate navigation whether you are using MotionX-GPS to find and mark new places or to retrace your steps.
For optimum performance, the new auto compass for the iPhone 3GS switches automatically between magnetic and satellite mode.
Now you can save your travels via a track on the map page even if you haven't used the stopwatch/track recorder feature.
Embraced by more than 2 million outdoor enthusiasts, MotionX-GPS 7.0 for the iPhone 3G and 3GS is available for $2.99 for a limited time through the Apple App Store.
Fullpower's MotionX technology platform is the leader for mobile sensing solutions. MotionX solutions span navigation, imaging, life-sciences and energy management. Today the iPhone is the premier showcase for MotionX solutions, with more than 3 million App store downloads.
About Fullpower/MotionX
Founded in 2003 by Sonia Lee and Philippe Kahn, Fullpower's mission is to put motion-sensing in every mobile device. As the leader in mobile sensing solutions, Fullpower is building on its expertise in wireless sensor technology to deliver unique, interactive motion-sensing applications. MotionX solutions are designed and developed in Santa Cruz, Calif.

Raytheon Awarded $7 Million Phase 2 Contract From the Office of Naval Research

TEWKSBURY, Mass., Aug. 27, 2009 /PRNewswire/ -- Raytheon Company (NYSE: RTN - News) was awarded a $7 million follow-on contract from the Office of Naval Research for work on the Compound Semiconductor Materials on Silicon (COSMOS) program.
Funded by the Defense Advanced Research Projects Agency, this phase two contract will focus on improving the yield and integration density of compound semiconductor and silicon complementary metal oxide semiconductor (CMOS) transistors fabricated on the same silicon wafer.
"The COSMOS program focuses on integrating high-performance compound semiconductors, such as Indium phosphide or Gallium arsenide, with low-cost silicon transistors to achieve superior cost benefits and performance than what is available today," said Michael Del Checcolo, vice president of Engineering for Raytheon Integrated Defense Systems (IDS). "These technological advances allow us to provide more complex and highly sophisticated solutions for our warfighters."
During phase one, the Raytheon-led team demonstrated that high performance compound semiconductor devices (InP HBTs) can be directly grown and fabricated on silicon substrates and monolithically integrated with Silicon CMOS transistors on the same substrate. The team will use these findings in phase two to design and fabricate high speed, low power consumption digital-to- analog converters whose performance cannot be realized with today's existing semiconductor technology.
Using its OpenAIR(TM) business model for assembling talent and capabilities, Raytheon IDS is partnering with Raytheon Systems Limited, Glenrothes, Scotland; Soitec, Bernin, France; Teledyne Scientific Imaging Company, Thousand Oaks, Calif.; Massachusetts Institute of Technology, Cambridge, Mass.; Paradigm Research LLC, Windham, N.H.; IQE, Bethlehem, Penn.; and Silicon Valley Technology Center, San Jose, Calif.
Integrated Defense Systems is Raytheon's leader in Global Capabilities Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

Orbit International Receives Additional Awards from NAVICP for Color Plasma Entry Panels

Potential for Retrofit Program Could Exceed $20 Million
HAUPPAUGE, N.Y.--On Thursday August 27, 2009, 8:45 am EDT (BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT - News), a defense electronics manufacturer, systems integrator and software solution provider, today announced that its Electronics Group continues to receive additional retrofit awards that now exceed $540,000 since January 2009. These awards are released from the U.S. Naval Inventory Control Point (NAVICP), Mechanicsburg, PA. for the manufacture of its Color Plasma Entry Panels (Color PEP). The Color PEPs were designed to replace older Orbit Plasma Entry Panels currently supporting UYQ-21 Naval console requirements. Deliveries under this contract are expected to commence in the fourth quarter 2009 and be completed by the first quarter 2010.
These continuing contract awards from NAVICP for the Color PEP are significant in that they represent further evidence that NAVICP is committed to a program under which soon to be obsolete Plasma Entry Panels will be replaced by the Color PEP, which was specifically designed as a low cost, enhanced capability end-of-life replacement for the Plasma Entry Panels originally designed by Orbit. The new Color PEPs, once installed, significantly upgrade the functionality and capabilities of all UYQ-21 consoles for U.S. and foreign fleet service.
These Color PEPs will continue to support an ongoing replacement program funded for the purpose of removing hardware that is too costly to repair, refurbish, or in some instances, older components are no longer procurable, making the Plasma Entry Panel obsolete to manufacture. The Company can now provide state-of-the-art hardware with enhanced capabilities as form fit replacement for the UYQ-21 consoles on board most U.S. Naval surface ships.
Dennis Sunshine, Orbit’s President and Chief Executive Officer, commented, “Our older Plasma Entry Panels, initially designed and installed since 1982, continue to support computer display systems for UYQ-21 Naval Surface shipboard fleet requirements as well as land based test facilities. The Company has previously delivered in excess of 3,500 of the originally designed Plasma Entry Panels to a number of prime defense electronic contractors, including Hughes Aircraft Company, Raytheon Company, DRS, Lockheed Martin, and directly to Naval Procurement Offices supporting UYQ-21 console testing facilities. These units have had a successful history of providing the console operator with critical real time data for the Command Information and Control Room, as well as the Fire Control areas, for all U.S. Naval Cruisers, Destroyers, and Fleet Carriers utilizing the UYQ-21 console systems.”
Sunshine stated, “Since all of the UYQ-21 consoles currently on board each ship platform will remain operational on an extended deployment basis, this cost reduction retrofit initiative is aligned with the cost saving policies announced by the current administration. Our Company has the potential to replace these older units for the navies of the U.S., Spain, and Japan. The CG-47 Ticonderoga class AEGIS cruisers, DDG-51 Arleigh Burke class AEGIS destroyers, and the FFG-7 Oliver Hazard Perry class frigates are just some of the U.S. surface vessels equipped with the UYQ-21 system.”
Finally, Sunshine stated “Up to this point in time, our Company has provided Color PEPs as ’seed units’ for selective naval platforms. These latest Color PEP awards which began in January 2009, although small in dollar amount, take the replacement initiative to the next level. Our Company is now replacing older Plasma units on a one for one basis, as the UYQ-21 console continues to support our Naval presence throughout the world. By extending the useful life of a previously commissioned ship by some 15-25 years, the Company anticipates a potential requirement for a significant number of Color PEPs. Since the awards are designed to replace older Plasma Panels with Color PEPs on a ship by ship basis, our Company will report the number of future awards on a semi-annual basis. Based on the number of units previously delivered since 1982, we view this color PEP replacement program as a significant long term opportunity, with the potential to generate in excess of $20 million revenue subject to future funding of the program.”
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and associated analytical equipment. The Behlman military division designs, manufactures and sells power units and electronic products for measurement and display.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, but not limited to, statements regarding any acquisition proposal and/or the potential sale of the Company and whether such acquisition proposal, potential sale or a strategic alternative thereto may be considered or consummated; statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Unisys Wins Encore II Award to Support Evaluation of New Data Protection Technology at US Joint Forces Command

Unisys to Support Tests of Transformational Technology to Safeguard Sensitive Data on Shared Information Networks
BLUE BELL, Pa.--On Thursday August 27, 2009, 8:00 am EDT (BUSINESS WIRE)--Unisys (NYSE:UIS - News) was awarded a firm fixed price, task order to support the testing and evaluation of a new encryption and “bit-splitting” technology at the U.S. Joint Forces Command (USJFCOM) to ensure that data is secure and readily available to those authorized to view it. The project will test the Unisys Stealth Solution for Network, an innovative secure information sharing solution for government and commercial organizations.
Under the one-year task order, awarded through the Defense Information Systems Agency’s Encore II contract, Unisys will provide technical support at the USJFCOM site in Norfolk, Va., and at its subordinate Joint Transformation Command for Intelligence (JTC-I) site in Suffolk, Va.
The commands will test the ability of cryptographic bit-splitting technology to help converge various Department of Defense (DoD) Global Information Grid (GIG) networks operating at different security levels into a single network infrastructure where virtualized communities of interest can co-exist, while still maintaining complete isolation from each other.
The technology would help to protect each community’s data, allowing the controlled sharing of information between communities, while dramatically reducing infrastructure and associated costs.
The data protection capability is essential to the DoD, which must secure its data from unauthorized users, while allowing data to be shared with those who need it, such as essential users from various agencies and military services, as well as authorized partners such as contractors or coalition nations.
To carry out this transformational prototyping effort on behalf of USJFCOM, Unisys will draw upon its extensive experience working with the Unisys Stealth Solution for Network. The Stealth solution encrypts data, “cryptographically bit-splits” that data into multiple packets as it moves through the network, and then reassembles the information packets for delivery exclusively to authorized users.
Among its missions, USJFCOM leads efforts to integrate military capabilities among the various DoD commands and agencies and to develop solutions to allow the DoD systems to interoperate. The JTC-I operates the Joint Intelligence Lab to experiment with and assess processes and technologies that can assist DoD programs to better gather, share and use intelligence data.
“This technology can address a longstanding challenge for the Department of Defense and other government agencies: how to simplify their networks without sacrificing security, while delivering significant cost savings,” said Jim Geiger, managing partner, Department of Defense, Unisys Federal Systems. “Unisys will draw upon its extensive experience with the Unisys Stealth Solution for Networks to support the Joint Forces Command and the Joint Transformation Command for Intelligence in this pioneering effort to promote secure data and information sharing among various communities within the DoD. This solution is now the double-encryption security mechanism protecting the Unisys Secure Cloud solution.”
About Unisys
Unisys is a worldwide information technology company. We provide a portfolio of IT services, software, and technology that solves critical problems for clients. We specialize in helping clients secure their operations, increase the efficiency and utilization of their data centers, enhance support to their end users and constituents, and modernize their enterprise applications. To provide these services and solutions, we bring together offerings and capabilities in outsourcing services, systems integration and consulting services, infrastructure services, maintenance services, and high-end server technology. With more than 26,000 employees, Unisys serves commercial organizations and government agencies throughout the world. For more information, visit www.unisys.com
Forward-looking Statements
Any statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Because agreements with government agencies are terminable before the end of their terms and are subject to the availability of appropriated funds, there is no guarantee that the contract will continue for its full term. Additional discussion of factors that could affect Unisys future results is contained in periodic filings with the Securities and Exchange Commission.
RELEASE NO.: 0827/9016
Unisys is a registered trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.

Northrop Grumman gets billions in military contracts

WASHINGTON ~ August 27, 2009 - The U.S. Air Force has boosted the potential value of Northrop Grumman Corp's (NYSE:NOC - News) contract to support the radar-evading B-2 bombers by more than 50 percent to $9.5 billion. It raised the ceiling on the contract which was originally set at $6.1 billion by $3.4 billion, the Defense Department said on Wednesday.
At the same time, Los Angeles-based Northrop said it had received a U.S. Navy contract valued at roughly $2.4 billion for the refueling and overhaul of the Theodore Rossevelt, a nuclear-powered aircraft carrier.
The Pentagon, in its daily contract digest on Wednesday, did not specify the previous ceiling value of Northrop's bomber contract. The United States deploys 20 B-2s.
Work on the aircraft carrier is scheduled to last more than three years and will be the ship's one and only refueling and complex overhaul in a 50-year life span, Northrop said.
The Roosevelt is the fourth ship of the Nimitz class to undergo this major milestone.
More than 3,800 Northrop Grumman Shipbuilding employees would be working aboard the carrier during peak periods of the project, the company said.
Northrop shares closed down 46 cents to end the day's trade on the New York Stock Exchange at $48.90.

Saab Delivers Camouflage Net Systems to the U.S. Department of Defense

Saab~ On Thursday August 27, 2009, (STO:SAABB) has been awarded two production and delivery contracts with an order value of MUSD 18.4 (appr. MSEK 130) for Ultra Lightweight Camouflage Net Systems by the U.S. Department of Defense.
In August Saab won two Department of Defense contracts to produce and deliver Ultra Lightweight Camouflage Net Systems (ULCANS) for use by the U.S. Army. Delivery of the systems will begin in December 2009 and continue through the summer of 2010.
“We are pleased to see the U.S. Department of Defense continued trust in our ability to deliver. We are committed to continue providing the best signature management products available to the U.S. Armed Forces now and in the future,“ says Dottie Womack, President of Saab Barracuda LLC. ULCANS are used for hiding military objects to achieve protection against visual as well as near infrared, thermal infrared and broadband radar threats, while in a static position. Saab manufactures multi-spectral signature management and heat reduction products for the Department of Defense as well as other U.S. Government agencies and customers worldwide.
Signature management is mainly a military term for providing an object or a person with characteristics that makes detection and identification more difficult for different types of sensors.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers’ changing needs.
www.saabgroup.com
The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on August 27 at 10.50.
This information was brought to you by Cision http://www.cisionwire.com

Over One-Third of Americans Believe Fewer Troops Should be Committed in Afghanistan

ROCHESTER, N.Y.--On Thursday August 27, 2009, (BUSINESS WIRE)--As the situation in Afghanistan, especially in the wake of the current elections and the vote-counting, continues to deteriorate for U.S. troops on the ground, Americans may be thinking of this situation in a similar manner as they once thought about Iraq. In the past six months, even fewer U.S. adults believe more troops should be committed to the war there and more Americans believe fewer troops should be committed.
These are some of the results of a new BBC World News America/The Harris Poll® of 2,004 adults surveyed online between August 12 and 14, 2009 by Harris Interactive®..
In January, President Obama proposed sending an additional 30,000 or more troops to support the U.S. and allied troops there. At that time, just one-third (33%) of all adults supported this increase. Many people thought we should either keep the same level of troops (21%) or cut the number there (27%).
Currently, just one-quarter (25%) of Americans support sending more troops to Afghanistan while one in five (20%) want to keep the level of troops the same and 37% want to commit fewer troops. Among women, almost half (45%) want to cut the number of troops while 37% of men say they want to commit more troops to the war in Afghanistan.
There is also an age difference on this issue – the older one is, the more likely they are to say they want to commit more troops. Just under one-quarter of those aged 18-34 (23%) say they want to commit more troops compared to 44% of those aged 55 and older. The reverse is true with sending fewer troops as almost two in five of those aged 18-34 (38%) say they believe the U.S. should commit fewer troops while 14% of those aged 55 and older say the same. Educational levels also show a difference. Two in five of those with a high school or less education and college graduates (41% and 39% respectively) say they believe the U.S. should commit more troops in Afghanistan while two in five people with some college (39%) say the U.S. should commit fewer troops.
So What?As there is more violence there, and more U.S. casualties there as well, Americans are hearing more about Afghanistan and, therefore, paying more attention to the conflict. And, as such, it is clear that Iraq may not be far from their minds as Americans are saying that they would prefer to see fewer troops in Afghanistan. President Obama has a lot on his plate domestically, but this is an issue that is moving to the forefront of Americans’ minds and he can’t afford to let this slip.
The Harris Poll® #95By Regina A. Corso, Director, The Harris Poll
MethodologyThis BBC World News America/Harris Poll® was conducted online within the United States August 12 and 14, 2009, among 2,004 adults (aged 18 and over). Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents’ propensity to be online. Full data tables and methodology are available at www.harrisinteractive.com
These statements conform to the principles of disclosure of the National Council on Public Polls.
About Harris InteractiveHarris Interactive is a global leader in custom market research. With a long and rich history in multimodal research, powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research firms. For more information, please visit www.harrisinteractive.com

Mundus Group, Inc. Announces AirStar Weather Systems to Continue VTOL UAV Patrols for Government Agencies in Gulf Coast States Providing Real Time....

Mundus Group, Inc. Announces AirStar Weather Systems to Continue VTOL UAV Patrols for Government Agencies in Gulf Coast States Providing Real Time Data on 'Lookout' for Hurricane Bill
LOS ANGELES, Aug. 27 /PRNewswire-FirstCall/ -- Today Mundus Group, Inc. announced AirStar Weather Systems will continue VTOL UAV patrols for government agencies in the Gulf Coast States, providing real time data on "lookout" for hurricane Bill.
Why AirStar Weather Systems was called to Service
After Ike in 2008, AirStar delivered 12 Weather System Drones, state of the art unmanned air vehicles, to Texas, Louisiana and Gulf coast government agencies for hurricane observation and early warning systems. Ike was blamed for at least 195 deaths. Of these, 74 were in Haiti, which was already trying to recover from the impact of three storms earlier that year: Fay, Gustav, and Hanna. In the United States, 112 people were killed, and 34 are still missing. Damages from Ike in US coastal and inland areas are estimated at $24 billion (2008 USD), with additional damage of $7.3 billion in Cuba, $200 million in the Bahamas, and $500 million in the Turks and Caicos, amounting to a total of $32 billion in damages.
AirStar Weather Systems (AWS) www.airstaruav.com is a dual-purpose service provider, primarily marketed as an advanced meteorological technology drone. AirStar's remote controlled UAV VTOL is equipped with technologies providing real time analysis information, that when used with regional and county wide weather network services, provides a cost effective solution for gathering enhanced real time data for weather systems predictions with greater accuracy.
AirStar Weather System's greatest strengths and appeal are in its protection of life and property with unmanned performance as an early warning system during national emergency weather alerts for severe thunder storms and hurricanes to coastal cities and across the "tornado alley" from Oklahoma and Texas panhandle through Kansas and Nebraska and the world.
Just as important, AWS' second mode or purpose is provided after the storm to search for survivors and observe and protect against looters and report fires, floods and damage to infrastructure while providing visual inspection and life saving information to rescue teams in areas that would be impossible to reach by ground.
The National Oceanic and Atmospheric Administration's Weather Service Climate Prediction Center said Thursday that there could be as many as three major hurricanes during this year's 2009 Atlantic hurricane season. Forecasters at the Center said there's a 70% chance of having nine to 14 named storms, of which four to seven could become hurricanes. One to three of those could become major hurricanes, defined as Category 3, 4 or 5 storms.
Following its plan to maximize the commercial technological potential of its patented state of the art VTOL UAV Drone technology, parent company Mundus Group and subsidiary AirStar International have formed the AirStar Weather Systems division to provide a dedicated service to coastal communities, offshore oil and gas interests, as well as to meteorological agencies world wide. AirStar Weather Systems can function as part of an enhanced weather systems' analysis network or a "stand alone" severe thunderstorm, tornado and hurricane early warning and patrol system. The AirStar Weather Systems division will support those AirStars currently in service with government agencies on Gulf Coast patrol since Hurricane Ike.
About The Mundus Group, Inc.
The Mundus Group, Inc. (Pink Sheets: MNDP - News) is an advanced aerospace technology consortium providing patented Vertical Take Off and Landing (VTOL) technology for experimental aircraft and Unmanned Air Vehicles (UAV) since 1990 through its fully owned VTOL division, Roadable Aircraft International (RAI). Newly acquired subsidiary AirStar, has been an innovator and world leader in Unmanned Air Vehicles and Remote Controlled Vertical Take off and Landing technology for the past 20 years in the design, engineering, development, production and sales of cutting edge remote controlled (RC) unmanned air vehicles (UAVs) for US military, international government and civilian surveillance services, fire and rescue departments, as well as world renowned aerial cinematography for movie and commercial production, aerial photography and laboratory / product data testing.
Mundus is at the cutting edge of jet turbine-ducted fan technology and fuses state of the art design engineering and a prototyping facility with computer assisted auto flight technologies, Remote Controlled (RC) and composite technologies industry segments.
From US Navy co-developed UAVs for aerial observation and environmental testing to advanced VTOL aerospace technology for civilian and military uses, Mundus Group, Inc. is developing revolutionary products with global potential for change that offers economic protection and growth opportunities for investors.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. MNDP has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions.
These statements reflect the MNDP's current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the MNDP's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. MNDP undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

Australia's Second A330 Multi-Role Tanker Transport Achieves Successful "power on" Milestone

ARLINGTON, VA--(Marketwire - 08/26/09) - The second A330 Multi-Role Tanker Transport (MRTT) aircraft for Australia has completed its mission equipment outfitting with a successful "power on" milestone, and is being readied for pre-delivery flight testing. The aircraft underwent conversion to the A330 MRTT military configuration in Australia. Qantas Engineering performed the mission equipment outfitting at its Brisbane Airport facility with the support of Airbus Military, underscoring the capability of EADS and its subsidiaries to transfer complex industrial processes around the globe.
One of the key achievements of the "power on" milestone is verifying successful operation of more than 400 installed wiring harnesses -- with more than 35 miles of cabling and 1600 connectors -- that go into the MRTT as part of its military modifications. It is a key step prior to the commencement of ground and flight test of the aerial refueling systems and military avionics. Following flight test in Australia, the aircraft will fly to Madrid, Spain, for further modifications prior to joining the first MRTT in the certification and qualification flight program.
The Royal Australian Air Force's A330 MRTT is based on the same general configuration as the Northrop Grumman KC-45 being offered for recapitalization of the U.S. Air Force's aging tanker fleet. Both A330-200 aircraft feature EADS' advanced Aerial Refueling Boom System (ARBS), along with a pair of 905E under-wing hose-and-drogue air refueling pods. The KC-45 will also have a hose-and-drogue fuselage refueling unit on the centerline. This mix of boom and pod refueling technologies ensures the A330 MRTT and KC-45 can transfer fuel to all types of receiver aircraft during a single mission without reconfiguration.
Australia has ordered five A330 MRTTs, the first of which began a highly successful flight-test program in June 2007. Two of the multi-role platforms will be delivered to Australia in 2010. As with the second aircraft, the remaining three Australian MRTTs will undergo mission equipment outfitting at the Qantas Engineering facility. Conversion of the next of these aircraft is already underway.
The successful transfer of these complex industrial capabilities validates a foundational element of the Northrop Grumman KC-45 program for the U.S. Air Force. The aircraft will be assembled and configured for the U.S. Air Force by EADS North America and Northrop Grumman at a new American aerospace center of excellence that will be constructed in Mobile, Alabama.
At the heart of both the A330 MRTT and KC-45 is the EADS fly-by-wire ARBS, which provides highly accurate, reliable in-flight refueling for a full range of aircraft -- from fighters to airlifters. Its high-resolution, panoramic, 3D-vision system enables the boom operator to remotely control the system from the cockpit during day, night and all-weather operations. The ARBS' maximum nominal fuel flow rate is 1,200 U.S. gallons per minute.
The A330 MRTT has won all of the latest competitions for advanced aerial refueling aircraft. In addition to the Royal Australian Air Force's acquisition, it has been selected by the air forces of the United Kingdom, Saudi Arabia and the United Arab Emirates. Saudi Arabia's original order for three A330 MRTTs was recently doubled to a total of six aircraft, further solidifying the aircraft's position as the world's leading advanced aerial refueling platform.
About EADS North America
EADS North America is the North American operation of EADS, a global leader in aerospace, defense and related services. As a leader in all sectors of defense and homeland security, EADS North America and its parent company, EADS, contribute over $11 billion to the U.S. economy annually and support more than 200,000 American jobs through its network of suppliers and services. Operating in 17 states, EADS North America offers a broad array of advanced solutions to its customers in the commercial, homeland security, aerospace and defense markets.

Northrop Grumman gets billions in U.S. contracts

WASHINGTON On Wednesday August 26, 2009, 5:54 pm EDT (Reuters) - Northrop Grumman Corp (NYSE:NOC - News) was awarded a U.S. Air Force contract boost, up to $3.4 billion, to support the radar-evading B-2 bomber, the Defense Department said on Wednesday.
At the same time, Los Angeles-based Northrop said it had received a U.S. Navy contract valued at roughly $2.4 billion for the refueling and overhaul of the Theodore Rossevelt, a nuclear-powered aircraft carrier.
The Pentagon, in its daily contract digest, did not specify the previous ceiling value of Northrop's bomber contract. The United States deploys 20 B-2s.
A company spokesman could not immediately specify the previous value of the B-2 contract.
Work on the aircraft carrier is scheduled to last more than three years and will be the ship's one and only refueling and complex overhaul in a 50-year life span, Northrop said.
The Roosevelt is the fourth ship of the Nimitz class to undergo this major milestone.
More than 3,800 Northrop Grumman Shipbuilding employees would be working aboard the carrier during peak periods of the project, the company said.
Northrop shares closed down 46 cents to end the day's trade on the New York Stock Exchange at $48.90.

Navistar Financial Announces Renewal of $650 Million Dealer Inventory Funding Facility

WARRENVILLE, Ill.--On Wednesday August 26, 2009, 4:32 pm EDT (BUSINESS WIRE)--Consistent with previous guidance, Navistar Financial Corporation, a wholly owned subsidiary of Navistar International Corporation (NYSE: NAV - News), today announced that as part of its strategy for refinancing its wholesale portfolio it has signed an agreement for a one-year renewal of a $650 million dealer floor plan funding facility, effective immediately. This conduit-based facility is funded through two of NFC’s major relationship banks.
“This renewal, in conjunction with other initiatives, will fully support our ongoing wholesale business, which helps dealers purchase their floor plan inventory,” said David Johanneson, president and chief executive officer of Navistar Financial. “The credit quality of our portfolio and the health of our dealer network continue to earn the ongoing confidence of our key relationship banks.”
“The completion of this renewal is another important step in our strategy to renew Navistar Financial’s bank facility by year-end,” added Johanneson.
Navistar International Corporation (NYSE: NAV - News) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Navistar Financial Corporation provides financial programs and services tailored to satisfy all Navistar’s customer and dealer equipment financing needs. Additional information is available at: www.navistar.com.
Forward-Looking Statement
Information provided and statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the company assumes no obligation to update the information included in this report. Such forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions. For a further description of these factors, see Item 1A, Risk Factors of our Form 10-K for the fiscal year ended October 31, 2008, which was filed on December 30, 2008 as modified by Item 1A, Risk Factors of our Form 10-Q for the second quarter ended April 30, 2009, which was filed on June 9, 2009 . Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.

U.S. Army Awards General Dynamics $100 Million to Produce M2 Flex Machine Guns

CHARLOTTE, N.C., Aug. 26 /PRNewswire-FirstCall/ -- The U.S. Army TACOM-Rock Island, Ill., has awarded General Dynamics Armament and Technical Products a four-year indefinite delivery, indefinite quantity (IDIQ) contract for the production of M2 flex machine guns. Production under initial delivery orders valued at approximately $100 million is scheduled to be completed by April 2012. General Dynamics Armament and Technical Products is a business unit of General Dynamics (NYSE: GD - News).
Dean Gagnon, General Dynamics Armament and Technical Products gun systems senior program manager, said, "The M2 flex is a belt-fed, recoil-operated, air-cooled, crew-served weapon capable of right- or left-hand feed. The weapon's accuracy, durability and versatility make it ideal for offensive and defensive operations."
The guns will be produced at General Dynamics Armament and Technical Products' Saco, Maine, facility, which has delivered more than 35,000 M2 machine guns to the U.S. government since 1979. Program management will be performed at the company's Burlington, Vt.-based Technology Center.
General Dynamics Armament and Technical Products' site in Saco is the company's production site for single- and multi-barrel aircraft and crew-served weapon systems. This site, along with the Burlington, Vt. location, provides complete production capabilities, from design and development to manufacturing, testing and integration.
General Dynamics, headquartered in Falls Church, Va., employs approximately 92,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at www.generaldynamics.com

Lockheed Martin Team Recognized by Naval Air Systems Command

MANASSAS, Va., Aug. 26 /PRNewswire/ -- The Naval Air Systems Command (NAVAIR) has presented a Commander's National Award to Lockheed Martin (NYSE: LMT - News) and other members of the Maritime Patrol and Reconnaissance Aircraft (MPRA) Acoustic Commonality Team. The Commander's National Award recognizes technical, business and leadership excellence in support of NAVAIR's strategic priorities including current readiness, future capabilities and people. Lockheed Martin was recognized in the research, development, test and evaluation category.
"This is a tremendous achievement and I commend Lockheed Martin's participation with the Navy and Boeing to align the P-3 and P-8 acoustic systems to a common open architecture framework," said Capt. Mike Moran, MPRA program manager for NAVAIR. "The MPRA fleet will benefit from this joint effort for years to come."
The MPRA Common Acoustic Software Baseline is deployed on the U.S. Navy's P-3C Orion Anti-Submarine aircraft and ready for incorporation into the P-8A Poseidon aircraft. This program implements a rapid Commercial Off-the-Shelf (COTS) insertion model for aircraft acoustics based on the successful Acoustic Rapid COTS Insertion program aboard U.S. Navy submarines. In the aircraft program, acoustic systems on the P-3C receive annual software advanced processing builds, called APBs. Along with the APBs, hardware technology refresh activity occurs approximately every two years to keep the acoustic suites on these aircraft continuously refreshed with the latest acoustic signal processing capabilities. This program provides for the future incorporation of signal processing into the P-8A platform with minimal cost and risk.
"Lockheed Martin has been the prime contractor for the P-3C Acoustic system for more than 25 years," said Dave Dietzen, Lockheed Martin senior program manager, P-3 Programs. "Working with the Navy to leverage open architecture and the methodologies from an ARCI business model into the Air community has provided significant advancements in our ability to transition new warfighting capabilities to the fleet."
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.