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BUSINESS
December 30, 1997 | (Bloomberg News)
AlliedSignal Inc. agreed to sell its underwater mine detectors manufacturing unit to L-3 Communications Corp. for $70 million as the company focuses on its aerospace business. The agreement calls for L-3 to acquire Sylmar-based Ocean Systems, which develops lightweight sonar and underwater warfare products. Closely held L-3 sells underwater devices to clients including U.S. government intelligence agencies and Lockheed Martin Corp. Shares of AlliedSignal, which is based in Morristown, N.J.
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BUSINESS
January 11, 2000
Raytheon Co. agreed to sell its flight simulation and training business to L-3 Communications for $160 million in cash as it moves to tighten its focus on core operations. The business being sold has more than 2,600 employees at facilities in Texas, Oklahoma, Florida and New York. On the NYSE, Raytheon Class B shares closed down 31 cents at $27.63, while L-3 rose 50 cents to close at $40.
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BUSINESS
April 20, 1999 | From Bloomberg News
Interstate Electronics Technologies, Anaheim-based maker of satellite guidance, navigation and instrumentation systems, is being sold by its Ohio-based owner to L-3 Communications Corp. in New York for $60 million, the companies announced Monday. L-3 said the transaction, which includes real estate valued at $10 million, is expected to be completed in the second quarter.
BUSINESS
April 20, 1999 | From Bloomberg News
Interstate Electronics Technologies, Anaheim-based maker of satellite guidance, navigation and instrumentation systems, is being sold by its Ohio-based owner to L-3 Communications Corp. in New York for $60 million, the companies announced Monday. L-3 said the transaction, which includes real estate valued at $10 million, is expected to be completed in the second quarter.
BUSINESS
January 11, 2000
Raytheon Co. agreed to sell its flight simulation and training business to L-3 Communications for $160 million in cash as it moves to tighten its focus on core operations. The business being sold has more than 2,600 employees at facilities in Texas, Oklahoma, Florida and New York. On the NYSE, Raytheon Class B shares closed down 31 cents at $27.63, while L-3 rose 50 cents to close at $40.
BUSINESS
September 27, 2003 | From Bloomberg News
Canadian defense contractor CAE Inc. said Friday that it had lost a U.S. Army contract for aviation simulation services worth as much as $1.1 billion to a group led by Computer Sciences Corp. of El Segundo. The news sent CAE's stock plunging 15%. Shares of CSC, which declined to comment on the announcement, fell 1.4%. The Flight School XXI simulation training services contract would be worth $1.
BUSINESS
December 24, 2001
* J. Roger Hirl will step down as president and chief executive of Occident Chemical Corp. Dec. 31. Hirl, who led the company for 10 years, will continue as an executive vice president of parent company Occidental Petroleum Corp. of Los Angeles until his retirement, scheduled for June 30, 2003. * Alan Bergman has been named senior vice president and chief financial officer, Walt Disney Studios. Formerly vice president in charge of operations planning at parent company Walt Disney Co.
OPINION
June 3, 2011
The Pentagon is developing a new cyberwarfare strategy that calls for the use of military force — including conventional weapons — in response to certain kinds of damaging online attacks on U.S. institutions. That's fine in theory; if foreign agents launch a cyberattack on, say, the nation's electrical grid, it may be both reasonable and proportionate to fire missiles at, say, the attacker's energy supplies. But as recent hacks and phishing attacks on Google's Gmail service and on defense contractor Lockheed Martin indicate, the theory may not translate well to the murky, messy reality of what's happening online.
BUSINESS
May 21, 2003 | Peter Pae, Times Staff Writer
The no-shows are piling up at the Paris Air Show. With French-American relations still cool over France's opposition to the U.S. invasion of Iraq, major U.S. aerospace firms have dramatically scaled back or canceled their participation in the world's oldest and biggest industry gathering. Lockheed Martin Corp., Boeing Co. and Northrop Grumman Corp.
BUSINESS
February 23, 2002 | JAMES F. PELTZ, TIMES STAFF WRITER
Mergers are as intrinsic to American business as taxes, yet few industries have seen such prolonged consolidation as defense, whose latest spree of merger activity stretches back a decade. A nearly continuous stream of acquisitions--costing more than $80 billion--has changed the competitive dynamics of the defense industry and attracted an increasingly sharp focus by Washington regulators. Northrop Grumman Corp.'s unsolicited offer to buy TRW Inc. for $5.
BUSINESS
December 30, 1997 | (Bloomberg News)
AlliedSignal Inc. agreed to sell its underwater mine detectors manufacturing unit to L-3 Communications Corp. for $70 million as the company focuses on its aerospace business. The agreement calls for L-3 to acquire Sylmar-based Ocean Systems, which develops lightweight sonar and underwater warfare products. Closely held L-3 sells underwater devices to clients including U.S. government intelligence agencies and Lockheed Martin Corp. Shares of AlliedSignal, which is based in Morristown, N.J.
NATIONAL
July 18, 2003 | Mark Fineman, Robin Wright and Doyle McManus, Times Staff Writers
Secretly, they gathered in an auditorium in the nation's snowbound capital -- uniformed generals, assistant Cabinet secretaries, war college professors with top security clearance, and senior planners from the Pentagon, the U.S. Central Command and dozens of other federal agencies. The date was Feb. 21. More than 100,000 U.S. and British troops were already poised at Iraq's doorstep. Their battle plan was rehearsed and ready.
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