Industry News

Spirit AeroSystems Inc. has invested in upgrades to its historic Plant 2 and its Wichita facilities to support growing demand for its products. Spirit builds 70 percent of the 737 structure in Plant 2, including the entire fuselage of the world's best-selling airplane. "We are constantly looking at ways to modernize our factory and support our customer's production needs," said Shawn Campbell, Spirit vice president of the 737 program. ""/>
Spirit AeroSystems Upgrades Historic Plant 2
United Technologies Corp., and Rolls-Royce will join forces to provide comprehensive technical support at Royal Air Force Marham to support F135 engines and the LiftSystems on the U.K.' s F-35B Lightning II aircraft. The two industry-leading engine companies will institute a Performance-Based Logistics approach to sustainment for the propulsion systems. A PBL contracting structure..."/>
Pratt & Whitney, Rolls-Royce Team Up to Provide Comprehensive Support for UK F-35B at RAF Marham
Spirit AeroSystems Inc. has invested in upgrades to its historic Plant 2 and its Wichita facilities to support growing demand for its products. Spirit builds 70 percent of the 737 structure in Plant 2, including the entire fuselage of the world's best-selling airplane. "We are constantly looking at ways to modernize our factory and support our customer's production needs," said Shawn Campbell, Spirit vice president of the 737..."/>
Spirit AeroSystems Upgrades Historic Plant 2
Globe Telecom Inc. are facing the danger of paying a huge penalty for not complying with the rules of the Philippine Competition Act. The penalty, according to The Manila Times' calculation, could range from P691 million to P3.455 billion. The Philippine Competition Commission is firm in its stance that the P69.1-billion buyout of San Miguel Corp.' s telecommunications business by PLDT and Globe is "not deemed approved.""/>
PLDT, Globe may face fines for telco deal [The Manila Times, Philippines]
Hindustan Petroleum Corp. Ltd may jointly hold a 51% stake in a large refinery and petrochemical complex proposed to come up in coastal Maharashtra, two people familiar with the development said. The state government and a strategic investor who is yet to be brought in will hold the rest. The 60 million tonnes per annum refinery will be built at Rs.1.5 trillion in two phases of 40 mtpa and 20 mtpa."/>
Indian Oil, BPCL and HPCL may hold 51% stake in Maharashtra refinery [Mint, New Delhi]
United Spirits Ltd to the Serious Fraud Investigation Office, PTI reported, quoting an official at the regulator it did not identify. "We have taken note of the latest disclosure by USL and have begun looking into suspected violation of various securities market regulations including those relating to related party..."/>
Sebi may refer charges of fund diversion against Vijay Mallya to SFIO [Mint, New Delhi]
Freshdesk sees interest from global investors [Mint, New Delhi]
M and A Navigator: Deal pipeline –11 July
Timken Co. has acquired US-based industrial couplings and universal joints manufacturer Lovejoy, Inc. for approximatelyUSD 66 m, the company said. For the 12 months endingMarch 31, 2016, Lovejoy sales were approximately USD 56 m. Based inDowners Grove, IL, with additional locations in the US, CanadaandGermany, Lovejoy is recognized for its flexible coupling design and as the creator of the jaw-style coupling."/>
Timken Acquires Industrial Couplings, Universal Joints Maker Lovejoy for USD 66m
Elbit Systems Ltd. has won a contract worth approximately $19 million from the Maldonado District Administration in Uruguay, to provide a Safe District project. The project will span six municipal authorities, including the Punta Del Este tourist resort, a total of 2,000 square kilometers. The contract will be performed by Elbit Systems subsidiary Elbit Security Systems Ltd. over a two-year period."/>
Elbit Systems wins Safe District contract in Uruguay [Globes, Tel Aviv, Israel]

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