Walid Abukhaled has retired as CEO of the state-owned defense company Saudi Arabian Military Industries. Abukhaled took over as chief of the Saudi defense business in 2020, succeeding Andrew Schwer, a German national and former executive at Rheinmetall. Before leading SAMI, Abukhaled was CEO of the Middle East unit of Northrop Grumman. Under his leadership,...
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Category: Investment Security
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Juliette Wilcox Takes Lead Role at Ultra Intelligence & Communications’s UK Cyber Division
Juliette Wilcox, former cybersecurity ambassador of the U.K. Department for Business and Trade’s U.K. Defence and Security Exports, has been appointed president of Ultra Intelligence & Communications’ U.K. Cyber division. In her new position, Wilcox heads more than 200 employees in the division’s locations in Maidenhead, Farnborough and Gloucester. The company said the new cyber...
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IBM to Relocate Its R&D Unit Out of China Amid Revenue Drop
Multinational technology company IBM is relocating its research and development unit out of China. The announcement was made during a virtual town hall on Monday, when Jack Hergenrother, IBM global enterprise systems development vice president, revealed Big Blue’s plans to concentrate R&D efforts on facilities in other regions. According to the U.S. company, the decision...
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Lockheed Martin Lists F-16 Pilot Training Center in European Expansion Plans
Lockheed Martin plans to double the instructional capability of the F-16 pilot training center opened in November at the Romanian Air Force 86th Air Base to meet the demand from the United States and its allies. Frank St. John, chief operating officer at Lockheed, told Defense One that expanding the training facility, which graduated its...
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Hanwha Aerospace Unit Inaugurates Australian Armored Vehicle Manufacturing Facility
Hanwha Defence Australia, a subsidiary of South Korean company Hanwha Aerospace, has inaugurated an armored vehicle manufacturing facility in Geelong, Victoria. The Hanwha Armoured Vehicle Centre of Excellence, or H-ACE, supports the production and sustainment of tracked armored vehicles through various facilities, including several assembly lines, a test track and obstacle course, a deep-water test...
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Voyager Space Joins Spaceport Nova Scotia’s Launch Infrastructure Development
Denver, Colorado-based Voyager Space will support the establishment of Spaceport Nova Scotia‘s launch support infrastructure as an owner-authorized representative. According to Maritime Launch Services, the developer of the spaceport in the east coast of Canada, it will tap the engineering, design and fabrication capabilities of Voyager’s Exploration Segment to establish the infrastructure. Jeffrey Manber, Voyager...
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EU Approves $5.6B German Aid for European Microchip Manufacturing Facility
The European Commission, the European Union’s primary executive arm, has approved Germany’s plan to invest $5.6 billion in the European Semiconductor Manufacturing Company’s effort to build a microchip facility in Dresden. According to the EC, the large-scale manufacturing plant will produce high-performance chips based on 300 mm silicon wafers that improve performance while reducing total...
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UK Awards 7 Research Contracts to Improve Nuclear Decommissioning Work
The United Kingdom’s Nuclear Decommissioning Authority has awarded $39 million in grants to develop new, safe and cost-effective nuclear decommissioning techniques. Seven consortiums who received the funding are studying three areas: supporting the academic research community to improve skills in the nuclear decommissioning sector, promoting research in radioactive waste management and decommissioning techniques, and igniting...
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Updated CFIUS Website Provides Detailed Information on Foreign Investment-Related Penalties
Data from the newly updated website of the Committee on Foreign Investment in the United States showed that the civil monetary penalties imposed by the interagency committee increased threefold in 2023 and 2024 compared to previous penalty actions it has enforced since its establishment. Each penalty action listed on the website contains detailed information describing...
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Rheinmetall Seeks to Boost US Market Presence With Loc Performance Purchase
Rheinmetall has bared plans to acquire Loc Performance, a Plymouth, Michigan-based manufacturer of components for military and civilian vehicles, to strengthen the German arms producer’s U.S. market presence. The company said the acquisition price will be based on Loc Performance’s enterprise value of $950 million. According to Rheinmetall CEO Armin Papperger, the move, subject to...