Raytheon Radars Play Key Role in Missile Defense Test
July 23, 2008
TEWKSBURY, Mass., July 21, 2008 /PRNewswire/ — Three missile defense
radars built by Raytheon Company (NYSE: RTN) performed successfully in the
latest flight test conducted by the Missile Defense Agency July 18.
“The FTX-03 mission successfully demonstrated the integration of
missile defense sensors required to support an interceptor engagement,”
said Pete Franklin, vice president, Raytheon Integrated Defense Systems
National & Theater Security Programs. “Raytheon’s radars operated with
other Ground-based Midcourse Defense (GMD) components and collected
valuable mission data, significantly reducing risk for future flight
tests.”
During the mission, which demonstrated a simulated intercept of a live
target, the AN/TPY-2 radar at Juneau, Alaska, acquired a boosting target
launched from Kodiak, Alaska, using a cue based on data generated from
satellite sensors. The AN/TPY-2 tracked the target during its initial boost
phase through ballistic flight, cued the Upgraded Early Warning Radar
(UEWR) at Beale Air Force Base, Calif., and demonstrated interoperability
with multiple Ballistic Missile Defense System elements.
The UEWR successfully acquired, tracked and classified the target
system, providing data to the GMD system and achieving all mission
objectives.
The Raytheon-built X-Band Radar (XBR), aboard the Boeing-developed
Sea-Based X-Band Radar (SBX) vessel, acquired the target complex via a cue
formulated from the AN/TPY-2 and UEWR radar data and provided track and
discrimination data to the GMD system, which directed the simulated
engagement.
The XBR success in this mission was critical preparation for the FTG-05
flight test to be conducted later this year in which XBR will be the
primary radar for all engagement decisions.
Raytheon Company is the prime contractor for the AN/TPY-2 radar, which
provides a common capability enabling both a forward-based mode and a
terminal mode in support of the Ballistic Missile Defense System. The
AN/TPY-2 is a phased array, capable of search, threat detection,
classification, discrimination and precision tracking at extremely long
ranges.
Developed by Raytheon, the UEWRs add missile defense capabilities to
the Raytheon-developed PAVE PAWS and Ballistic Missile Early Warning System
radars, while continuing their missile warning and space surveillance
missions. XBR, built by Raytheon Company, provides missile tracking,
discrimination and hit assessment to the GMD portion of the BMDS.
The Boeing Company is the prime contractor for the GMD element of the
BMDS and the SBX and UEWR at Beale Air Force Base.
Integrated Defense Systems is Raytheon’s leader in Joint Battlespace
Integration providing affordable, integrated solutions to a broad
international and domestic customer base, including the U.S. Missile
Defense Agency, the U.S. Armed Forces and the Department of Homeland
Security.
Raytheon Company, with 2007 sales of $21.3 billion, is a technology
leader specializing in defense, homeland security and other government
markets throughout the world. With a history of innovation spanning 86
years, Raytheon provides state-of-the-art electronics, mission systems
integration and other capabilities in the areas of sensing; effects; and
command, control, communications and intelligence systems, as well as a
broad range of mission support services. With headquarters in Waltham,
Mass., Raytheon employs 72,000 people worldwide.
Radiant Energy Corporation Provides an Update on Its Norwegian Operations
July 23, 2008
TORONTO, ONTARIO–(Marketwire – July 22, 2008) – Radiant Energy Corporation, (TSX VENTURE:RDT) (“Radiant” or the “Company”), the developer and marketer of the radiant de-icing systems, announced that its Norwegian subsidiary, Radiant Aviation Services Europe AS (“RASE”), is in default of the terms of a loan from Innovations Norway, which has demanded repayment. The Company has begun initial discussions with the lender on behalf of RASE. The loan of NOK 9,000,000 ($1.8 million) is secured by a cash deposit of NOK 3,272,100 ($0.6 million) which the lender has taken possession of, a deicing facility located at the Oslo airport owned by RASE, and by a guarantee from the Company. It is anticipated that if a settlement is not reached in this matter, the lender may attempt to recover the amount guaranteed by the Company. The cost of the facility in Oslo was written off in 2007.
Larrie Shepherd, President and CEO, commented, “our attempts to work with the Oslo airport, major potential airline customers and airline operations companies have not resulted in a workable solution for the facility that was built at the Oslo airport, and it is important that the Company focus its resources on the market opportunities in the North American market, where initial success has been shown. The Company is reviewing the processes required to dispose of the assets and settle liabilities of its Norwegian subsidiary”.
About Radiant Energy Corporation
Radiant is the developer and marketer of Radiant Deicing Systems. The Company’s product is the only non-glycol based alternative approved by the US Federal Aviation Administration for the pre-flight ground deicing of aircraft. Aircraft deicing with Radiant’s technology offers savings to airports and airlines over the use of conventional glycol-based deicing systems, reducing aircraft treatment costs and significantly reducing the negative impact of glycol on the environment.
Photomatica Announces Proposed Name Change
July 23, 2008
TORONTO–(Marketwire – July 23, 2008) – Photomatica, Inc. (
The Company has changed its website to www.securerunwaysystems.com, and is in the process of changing its corporate image to reflect the name change and the change in the nature of its business.
The Company recently completed a 5-for-1 forward stock split of its issued and outstanding shares of common stock, and the Company now has 31,000,000 shares of common stock issued and outstanding.
This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risk that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies’ annual report on Form 10-KSB and other filings made with the SEC.
Boeing and Mxi Sign Long-Term Agreement
July 23, 2008
OTTAWA, CANADA–(Marketwire – July 23, 2008) – The Boeing Company, the world’s largest manufacturer of commercial jetliners and military aircraft, has signed a “Software License Distribution Agreement” with Mxi Technologies, a leader in aviation maintenance management software. Under terms of the agreement, Mxi will supply Maintenix®, an intelligent, integrated software solution that will provide Boeing with meaningful improvements to their labor productivity in after-sales product support.
Building on a well established track record of joint delivery to airline customers and Boeing’s internal Derivative Aircraft Program, the ten year agreement encompasses several Boeing led initiatives including P8A Poseidon and GoldCare, Boeing’s comprehensive and flexible life-cycle management service developed initially for the 787 Dreamliner. With the Maintenix software, Boeing will be able to reduce the cost of life-cycle support by increasing the productivity of their maintenance team; effectively providing more efficient support to their customers.
“Boeing has been successfully integrating the Maintenix product with its suite of maintenance and engineering management tools for several years and their desire to further develop that relationship shows the utmost confidence in our product and the knowledge and talent of our people,” said Les Hine, President of Mxi Technologies. “Over the last year, the Maintenix product has been expanding and with the clearly defined increase in work that this agreement offers, we have been able to continue growing our team at an accelerated pace. We are looking forward to increasing our capacity further to meet the ongoing needs of Boeing and our other customers.”
About Mxi Technologies
Mxi Technologies provides integrated, intelligent aviation maintenance management software, bringing innovation and thought leadership to aviation organizations seeking to improve their productivity. The Mxi Maintenix® software uses a modern architecture and provides advanced capabilities such as a role-based Web browser interface, automated workflow, integration adapters, electronic signatures, and support for portable wireless devices. In addition to supplying Maintenix, Mxi provides a full range of services including Maintenix implementation, business consulting, systems integration, training, and support. For more information, please visit www.mxi.com
Flight Options Names New Chairman and Chief Executive Officer
July 23, 2008
CLEVELAND, OH–(Marketwire – July 21, 2008) – Flight Options, a leading and highly innovative private jet company, today named Kenn Ricci as chairman and Mike Silvestro as chief executive officer of the business.
Kenn Ricci returns to the Flight Options family after six years. He founded Flight Options in 1998 and quickly grew the business from a start up to the second largest company in the fractional industry with over $800 million in annual sales. During his time away from Flight Options, Ricci has served as chief executive officer of Mercury Air Centers and principal of Directional Aviation Capital. Directional Aviation Capital is a private investment firm focusing on business aviation.
“Kenn is a true visionary in the aviation industry,” said Doug Berman, executive managing director of H.I.G. Capital. “He has a tremendous track record of building great businesses with a focus on high quality customer service.”
“Flight Options is a leader in the ever-evolving industry of private aviation,” said Kenn Ricci. “The Flight Options platform provides a significant opportunity for adaptation and growth in the changing world of business aviation.”
Mike Silvestro is also returning to Flight Options, where he was previously vice president of sales and marketing from 2000 to 2005. Since leaving Flight Options in 2005, he has held a senior executive position with a leading fractional provider.
“Mike has unmatched knowledge of the private aviation marketplace,” stated Kenn Ricci. “He is the ideal leader to take Flight Options into its next phase of innovation.”
“Flight Options has made significant progress over the past several years as we developed and successfully executed the Go-Forward plan,” said S. Michael Scheeringa, former chief executive officer for Flight Options. “I am confident the Company will have continued success and new growth under the leadership of Kenn and Mike.”
“The turnaround Flight Options has been through under Michael’s leadership is extraordinary,” added Kenn Ricci. “We are pleased Michael has chosen to continue with the Company as an investor and strategic advisor at the board level.”
About Flight Options
Flight Options, LLC has earned a reputation as a leader and innovator within the private aviation industry. The Cleveland, Ohio-based company marks its 10th Anniversary in 2008 and offers the complete spectrum of programs from Fractional First™ ownership to leasing, aircraft management, charter and JetPASS Membership. The company is an industry leader in private aviation safety as well, having been selected by the FAA to partner and participate in the development and implementation of a formal Safety Management System (SMS) soon to be required for all air service providers. Flight Options provides personalized service to its Owners and Members, with a fleet of 120 aircraft consisting of the Hawker 400XP, Hawker 850XP, Citation X and Embraer Legacy. More information is available at www.flightoptions.com or by calling 877.703.2348.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed more than 75 transactions. The firm’s current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
General Dynamics Informa Sólido Aumento de Ganancias y Pedidos Acumulados en Segundo Trimestre de 2008
July 23, 2008
FALLS CHURCH, Va., 23/07/2008 /PRNewswire-FirstCall/ — General Dynamics informó una ganancia por operaciones regulares de $641 millones, ó $1,60 por acción sobre una base totalmente diluida, correspondiente al segundo trimestre de 2008, contra la ganancia por operaciones regulares de $518 millones, ó $1,27 por acción totalmente diluida, computada en el segundo trimestre de 2007. Los ingresos crecieron a $7.300 millones en el trimestre, es decir, un aumento de 10,8% respecto de los ingresos de $6.600 millones informados en el segundo trimestre de 2007. La ganancia neta fue igual a la ganancia por operaciones regulares y se ubicó en $641 millones.
El efectivo neto provisto por actividades operativas en el trimestre alcanzó un total de $1.000 millones. El flujo de efectivo disponible por operaciones, definido como el efectivo neto provisto por actividades operativas por operaciones regulares, menos gastos de capital, fue de $910 millones en el período informado, ó 142% de la ganancia neta. (FUENTE General Dynamics)
UAL Corporation Informa Resultados de Segundo Trimestre de 2008
July 23, 2008
CHICAGO, 22/07/2008 /PRNewswire-FirstCall/ — UAL Corporation , la empresa inversora cuya principal subsidiaria es United Airlines, informó una pérdida neta de $2.700 millones –ó $151 millones, si no se incluyen ciertos cargos contables mayormente no monetarios. La pérdida estuvo asociada a un aumento en el gasto consolidado en combustibles de $773 millones.
Los resultados contables de la empresa en el segundo trimestre de 2008 se vieron impactados por cargos contables mayormente no monetarios que, combinados con el aumento de 54,1% o $773 millones en el gasto consolidado en combustibles, fueron la causa de que los resultados operativos antes de impuesto de la empresa fueran significativamente inferiores a los del año pasado. (FUENTE UAL Corporation)
United Airlines Alcanza Principio de Acuerdo para Mejorar Liquidez en Aproximadamente $1.200 Millones
July 23, 2008
CHICAGO, 22/07/2008 /PRNewswire-FirstCall/ — UAL Corporation , la empresa inversora cuya principal subsidiaria es United Airlines, anunció hoy que ha alcanzado un principio de acuerdo con su socio de tarjeta de marca compartida para el programa Mileage Plus, Chase Bank U.S.A., N.A. (“Chase”), y Paymentech, una de sus procesadoras de tarjetas de crédito, para extender el plazo de sus respectivos acuerdos.
Como parte de la operación, United recibirá un pago de $600 millones del Chase, relacionado con la compra anticipada de millas de viajeros frecuentes y la extensión del contrato. La empresa espera también que esta operación mejore su flujo de caja en unos $200 millones en los próximos dos años.
Como consecuencia de este acuerdo con Chase, la empresa espera aumentar su posición en efectivo en unos $1.200 millones; $1.000 millones en el corto plazo y otros $200 millones en los próximos dos años. (FUENTE UAL Corporation)
Titan Airways celebrates 20th Anniversary
July 23, 2008
Titan Airways, the London Stansted-based VIP charter specialist, is celebrating its 20th Anniversary this year. Founded by Managing Director Gene Willson in 1988, the airline has witnessed phenomenal changes within the aviation industry over the past two decades and despite adversity within the sector, Titan has continued to grow and succeed.
Testament to this is the fact that Titan Airways is one of just three companies that have been included in the Times Profit Track 100 more than once during the past nine years. Titan has been included a total of four times, with the airline achieving profits in every year of operation, showing an average increase of 69% a year with profits growing from £1.8m in 2004 to £8.7m in 2007.
“I am extremely proud of Titan Airways and of everything the dedicated Titan team has achieved over the past 20 years,” said Gene Willson. “We continue to provide a first class service and look forward to even more exciting times ahead with our plans for further fleet expansion.”
To mark its 20th anniversary, Titan Airways has announced the addition of two new aircraft to its fleet for 2009. Arriving in May 2009 is a Boeing 737-800 bringing new generation aviation technology to the Titan fleet. The aircraft will be configured with 189 leather seats and includes an inflight entertainment system. The 737-800 offers maximum gross weight and aircraft engine thrust and is ETOPs capable. The aircraft will be just five years old when it joins the Titan fleet and is being leased from CIT Aerospace over an eight year period.
In December 2009, Titan will take delivery of a Boeing 767-300 ER from GECAS Leasing. The aircraft has been signed for a seven year lease and again, will be only five years old when it joins the Titan fleet. With just 265 leather seats in a 2/3/2 configuration, this is the first wide-body aircraft in the Titan fleet offering long haul capability with a maximum range of approximately 6,000nm. The 767-300 is also ETOPs capable. Both new aircraft will sport full Titan Airways livery representing an image of Saturn’s moon, “Titan”.
“Our aim is to continually modernise our fleet as part of our ongoing strategy over the next few years,” said Alastair Kiernan, Titan Airway’s Commercial Director. “We are constantly striving to maintain our high standards of operation and part of this is ensuring our passengers fly in the most advanced aircraft.”
Titan Airways takes its names from its first aircraft, a Cessna 406 Titan. The airline originally consisted of just two people and has grown to its current size of 220 staff, operating 24/7, 365 days a year. The unique Titan “Go Now” policy ensures an aircraft can be airborne within 60 minutes of flight confirmation and MD Gene Willson still regularly operates the Boeing 757 and King Air 350 himself.
During the past 20 years Titan has flown many household names with clients including cruise lines, rock and pop groups including the Rolling Stones, blue chip organisations, finance houses, tour operators and major car companies such as Porsche, Mercedes and Audi. Titan has received many accolades, the most prestigious being the Queens Award for Enterprise which was awarded in 2001 for the airline’s innovative use of ‘quick change’ capabilities, enabling the BAe 146 and Boeing 737 aircraft to be utilised for both passenger and freight charters.
Now in its 20th year, Titan Airways is an established player in the European charter market, providing a bespoke charter tailored to each client’s demands, catering for individuals or groups from 1 to 204 passengers.
Titan’s expanding fleet currently comprises 11 aircraft: four Boeing 737-300s including the new all Business Class version; four BAe 146-200s; two Boeing 757-200s and a King Air 350. Several of the aircraft are QC (quick change) enabling utilisation for either passenger or freight transportation. In 2009 Titan will take delivery of a Boeing 737-800 and a Boeing 767-300.
Many leading airlines – legacy carriers and regional airlines – call on Titan to provide instant operational solutions. The airline’s reputation is built on its unique ‘Go Now’ policy, which guarantees that an aircraft can be airborne within 60 minutes of flight confirmation. Titan earned a Queen’s Award for Enterprise in 2001 for its rapid response services and pioneering use of quick change variants of aircraft. Titan is a worldwide AOC holder for both freight and passenger charters.
Titan Airways employs approximately 220 personnel based mainly at London Stansted.
Titan’s customers include cruise lines, pop groups, blue chip organisations, finance houses, major car companies and tour operators.
Honour for spn test pilot Peter Weger
July 23, 2008
Peter Weger, Head of Flight Operations of Grob Aerospace in Mattsies has been named a Fellow of the Society of Experimental Test Pilots in recognition of attaining a position of distinction in the field of Experimental Flight Testing. He will formally accept his credentials at the Society’s Awards Banquet in Anaheim, California on 27 September 2008.
German-born Weger, who was at the controls of the spn test aircraft No. 3 has had a continuous flying career of 43 years – 28 of them as a test pilot, accumulating more then 10.000 flight hrs in 49 different airplanes. Experimental Aircraft Programs he has flown include the Britsh/Italian/German EAP X program; the German F-104 CCV (1st digital Quadruplex FBW Program) and the Swedish/German Viggen (fuselage auto aiming program). Weger operated the first flight of the Eurofighter and was involved in the evaluation of a number of foreign fighter aircraft including the Mirage 2000, F16, F18 and ADV.
A graduate from the Empire Test Pilot School in Boscombe Down after obtaining a Masters in Aeronautical Engineering in Munich, he served with the German Air Force, becoming an operational pilot on the F-104 and F4. He left the military after 14 years to become a Test Pilot with Messerschmidt-Boelkow-Blom (MBB), eventually becoming Director Flight Operations and Chief Test Pilot. After 18 years with MBB he joined Dornier and was involved with the development and flight certification of the Dornier 328 Turborpop and 328 Jet. After Dornier shut down he flew as a Captain with Cirrus Airlines for four years before joining Grob Aerospace in 2007.
Weger has been a member of the Experimental Test Pilots Society since April 1982. Grob Aerospace has enjoyed corporate membership since May 2007.
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