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L3harris

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defense16 hours ago

Pentagon backs L3Harris rocket-motor spinoff with $1B investment

The Pentagon will provide a $1 billion anchor investment to L3Harris’s Missile Solutions spinoff (born from Aerojet Rocketdyne) to expand solid rocket motor production for key missiles including the Army’s PAC-3/THAAD and the Navy’s Tomahawk, fund facility modernization, and enable multiyear procurement agreements. The standalone company is slated for a late-2026 IPO, with L3Harris maintaining controlling interest; the move is part of a direct-to-supplier strategy to bolster the U.S. munitions supply chain.

via Defense News|
#aerospace#defense#l3harris
defense1 day ago

DoW Launches $1 Billion Direct-to-Supplier Investment to Expand Solid Rocket Motor Capacity

The U.S. Department of War and L3Harris sign a letter of intent for a $1 billion convertible preferred equity investment to create Missile Solutions, expanding domestic solid rocket motor capacity and enabling multi-year procurement deals (pending Congressional authorization). The investment will modernize facilities, strengthen the munitions industrial base, and stockpile readiness, with a second-half-2026 IPO planned for the new public company.

via U.S. Department of War (.gov)|
#acquisition-transformation-strategy#defense#direct-to-supplier
defense1 day ago

Pentagon backs L3Harris rocket-motor unit, eyeing 2026 IPO

The Pentagon will invest $1 billion in L3Harris’s rocket-motor business, carving out a Missile Solutions unit into a new majority-controlled entity that will go public in 2026 via an IPO backed by a government convertible security, securing steady supply of solid rocket motors for missiles like Patriot and Tomahawk under a Go Direct-to-Supplier strategy; the arrangement could draw regulatory scrutiny over conflicts of interest as it ties government equity to a defense contractor.

via CNBC|
#defense#ipo-2026#l3harris
business9 days ago

L3Harris Sells 60% Space Propulsion Stake to AE Industrial for $845M

L3Harris is selling a 60% stake in its space propulsion business to AE Industrial Partners for $845 million to shift focus towards defense, while reorganizing into three segments to better align with future warfare needs; the deal also aims to accelerate propulsion tech development, including nuclear propulsion for Mars exploration, with the transaction expected to close in late 2026.

via Reuters|
#ae-industrial-partners#business#defense-focus
business9 days ago

L3Harris Nears Sale of Space Propulsion Stake to AE Industrial for $845M

L3Harris Technologies plans to sell a 60% stake in its space propulsion business to AE Industrial Partners for $845 million, while retaining a 40% stake and the RS-25 engine program. The deal aims to refocus L3Harris on core defense priorities, and AE Industrial intends to revive the Rocketdyne brand and collaborate on future propulsion technologies, including nuclear propulsion for deep-space exploration.

via SpaceNews|
#ae-industrial#aerojet-rocketdyne#business
defense-and-space2 years ago

"Defense Department Awards $2.5 Billion Satellite Contracts to L3Harris, Lockheed Martin, and Sierra Space"

The Pentagon has awarded contracts totaling $2.5 billion to L3Harris, Lockheed Martin, and Sierra Space to build 54 satellites for the U.S. Space Force's Proliferated Warfighter Space Architecture. These satellites, part of the "Tranche 2 Tracking Layer," will be used for missile warning, tracking, and defense. Each company will build 18 satellites, with the project expected to launch in April 2027. The initiative aims to enhance the U.S. military's space capabilities in response to growing threats, particularly from China, and reflects the increasing investment in space-related defense efforts.

via CNBC|
#defense-and-space#l3harris#lockheed-martin
defense-technology2 years ago

L3Harris Approved to Manufacture 16 Space-Based Hypersonic Missile Trackers

Defense contractor L3Harris has received approval from the Space Development Agency to begin production on 16 satellites designed to detect and monitor hypersonic missiles. These satellites, part of the Proliferated Warfighter Space Architecture, will form a resilient sensor platform to track the flight paths of hypersonic missiles, which are considered highly destabilizing weapons due to their maneuverability and varied launch points. The satellites are scheduled to launch in 2025, and L3Harris has already delivered four prototype tracking satellites under a previous contract.

via SpaceNews|
#defense-technology#hypersonic-missiles#l3harris
business2 years ago

L3Harris sells commercial aviation unit for $800 million

L3Harris Technologies has announced the sale of its commercial aviation business to a private-equity firm affiliate for up to $800 million. The move is aimed at reducing debt and focusing more on national security and technology. The sale is expected to close in the first half of 2024, pending regulatory approval. The deal includes $700 million in cash and a $100 million earnout based on financial performance targets. Approximately 1,450 employees are currently working in L3Harris' commercial aviation business.

via Defense News|
#business#commercial-aviation#debt-reduction
business2 years ago

L3Harris Set to Finalize Aerojet Rocketdyne Acquisition

L3Harris' acquisition of Aerojet Rocketdyne is set to close on or about July 28, as the Federal Trade Commission has decided not to challenge the $4.7 billion deal. L3Harris, a defense contractor, expects the acquisition to expand its presence in civil space, strategic defense systems, and precision munitions. This comes after a previous attempt by Lockheed Martin to acquire Aerojet Rocketdyne was blocked by antitrust regulators.

via SpaceNews|
#acquisition#aerojet-rocketdyne#business