BWX Tech Buys Defense Metals Business from L3Harris for $100 Million

IEN11-07

On Monday, BWX Technologies announced a signed purchase agreement to acquire L3Harris Technologies' Aerojet Ordnance Tennessee (AOT) subsidiary for some $100 million. The unit manufactures specialty ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481167744?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/qqsOMHwMH4IRn6mnxP62kA--~B/aD0xMTkzO3c9MjEyMTthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/ien_820/3d20bc6a4cd09d4008e8a3f415556093","is_english":true,"pubTime":"2024-11-07 05:37","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2481167744","market":"us","top_or_hot":-1,"title":"BWX Tech Buys Defense Metals Business from L3Harris for $100 Million","media":"IEN","content":"<div>\n<p>On Monday, BWX Technologies announced a signed purchase agreement to acquire L3Harris Technologies' Aerojet Ordnance Tennessee (AOT) subsidiary for some $100 million. The unit manufactures specialty ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bwx-tech-buys-defense-metals-213756372.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BWX Tech Buys Defense Metals Business from L3Harris for $100 Million</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBWX Tech Buys Defense Metals Business from L3Harris for $100 Million\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-07 05:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bwx-tech-buys-defense-metals-213756372.html><strong>IEN</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On Monday, BWX Technologies announced a signed purchase agreement to acquire L3Harris Technologies' Aerojet Ordnance Tennessee (AOT) subsidiary for some $100 million. The unit manufactures specialty ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bwx-tech-buys-defense-metals-213756372.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BWX","symbol_name":"国际主权债ETF-SPDR","start_time":0,"source_url":"https://finance.yahoo.com/news/bwx-tech-buys-defense-metals-213756372.html","article_id":"2481167744","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/qqsOMHwMH4IRn6mnxP62kA--~B/aD0xMTkzO3c9MjEyMTthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/ien_820/3d20bc6a4cd09d4008e8a3f415556093"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481167744","pubTimestamp":1730929076,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"On Monday, BWX Technologies announced a signed purchase agreement to acquire L3Harris Technologies' Aerojet Ordnance Tennessee  subsidiary for some $100 million. The unit manufactures specialty metal components for the aerospace, defense and commercial sectors.Specifically, AOT provides advanced materials, fabrication and high-strength alloy manufacturing, including depleted uranium-engineered materials. The deal will enhance BWXT's ability to develop and manufacture products for commercial, military, and space applications.Rare Cars Found in Secret ‘Junkyard’ Sold for Millions. BWXT expects the acquisition to close by the end of the year. The company believes the deal will be slightly accretive to its earnings, excluding purchase accounting and other one-time costs, within 12 to 18 months. AOT will operate within BWXT's government operations segment.In a statement, L3Harris CFO Ken Bedingfield said the transaction \"reflects L3Harris' multi-year strategy to optimize our portfolio and d","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BWX":"国际主权债ETF-SPDR","SG9999014005.SGD":"United Global Durable Equities Fund Acc SGD","BWXT":"BWX Technologies Inc","SG9999014013.SGD":"United Global Durable Equities Fund Dis SGD","BK4591":"室温超导概念","BK4567":"ESG概念","LHX":"哈里斯公司","BK4187":"航天航空与国防","SG9999014021.USD":"UNITED GLOBAL DURABLE EQUITIES (USDHDG) ACC"},"translate_title":"BWX Tech以1亿美元从L3Harris收购国防金属业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BWX":1,"BWXT":0.9,"LHX":0.9},"content_text":"On Monday, BWX Technologies announced a signed purchase agreement to acquire L3Harris Technologies' Aerojet Ordnance Tennessee (AOT) subsidiary for some $100 million. The unit manufactures specialty metal components for the aerospace, defense and commercial sectors. \nSpecifically, AOT provides advanced materials, fabrication and high-strength alloy manufacturing, including depleted uranium-engineered materials. The deal will enhance BWXT's ability to develop and manufacture products for commercial, military, and space applications.\nMost Read on IEN:\n\nMusk Says $25,000 EV Is 'Pointless'\nButcher Harvests Invasive Raccoons to Make Meatballs\nRare Cars Found in Secret ‘Junkyard’ Sold for Millions\nPODCAST: Rivian's Safety Problems; Musk's 'Silly' EVs; Lilium Out of Money\n\nThe AOT business has generated some $40 million in revenue over the last 12 months. According to the company, the division is the only provider of depleted uranium to the U.S. government and produces other specialized materials, like tungsten, molybdenum, tantalum, rhenium, titanium, nickel, aluminum, copper, metal-matrix composites, metal polymer composites, reactive materials and custom alloys.\nAccording to the company's website, AOT's advanced specialty metal capabilities include powder metallurgy, primary metal processing, metal casting, heat treatment, precision CNC machining and milling, forging and swaging. \nBWXT expects the acquisition to close by the end of the year. The company believes the deal will be slightly accretive to its earnings, excluding purchase accounting and other one-time costs, within 12 to 18 months. AOT will operate within BWXT's government operations segment.\nIn a statement, L3Harris CFO Ken Bedingfield said the transaction \"reflects L3Harris' multi-year strategy to optimize our portfolio and deliver on our commitments to customers and shareholders.\" The company continues to reshape its portfolio and sell non-core assets to focus on its national security, tech-focused business.  \nMost recently, L3Harris sold its antenna and test equipment business to a Kanders & Company business unit for $200 million. \nBWXT is based in Lynchburg, Virginia and has some 7,800 employees across 14 major operating sites in the U.S., Canada and the U.K. \nThe transaction is subject to required approvals, clearances, and other customary closing conditions.\nClick here to subscribe to our daily newsletter featuring breaking manufacturing industry news.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481167744"}