Kevin W. Billings Joins Lockheed Martin Energy Team
May 28, 2009
Former Leader of Air Force Installations and Energy Programs to Focus on Company’s Federal Energy Performance Contracting Programs
ROCKVILLE, Md., May 28 /PRNewswire/ — Lockheed Martin (NYSE: LMT) today announced the addition of Kevin W. Billings to its Energy Services team. As Director of Federal Energy Efficiency Programs, Billings will support business development and program operations related to Lockheed Martin’s pursuits of Federal Energy Savings Performance Contracts.
Prior to his new role, Billings was the Acting Assistant Secretary of the United States Air Force for Installations, Environment & Logistics. He was responsible for managing facilities and programs in support of the Air Force’s 188 installations worldwide, including supply chain logistics, infrastructure and environmental, safety and occupational health to support the war fighters and their families. As the senior energy official, Billings led the Air Force Energy Strategy and was focused on helping reduce its energy consumption in support of DoD and Presidential Directives for greater energy independence and national security. His responsibilities included developing and mandating energy strategy and policies, meeting energy goals, reporting the energy security posture, and managing the Air Force’s culture change related to energy usage.
“Kevin has a wide-range of experience managing energy reduction initiatives, including expertise in change management. He will be instrumental in helping Lockheed Martin develop and deliver energy efficiency solutions to our federal customers,” said Tom Grumbly, Lockheed Martin’s vice president of Energy and Security Services.
In December of 2008, Lockheed Martin was selected by the U.S. Department of Energy to compete for future IDIQ task orders under its Energy Savings Performance Contracts (ESPC). Lockheed Martin is approved to help the Federal government reduce its energy costs and environmental impact through increased energy efficiency, additional use of renewable energy, and improved utility management decisions at Federal sites. All totaled, the tasks will have a maximum ceiling value of $80 billion over the 11-year period of the contract.
Before joining the Air Force in 2007, Billings had held a series of leadership positions in the private sector, with nonprofit organizations, and at the federal government. His experience includes Enterra Solutions, mCapitol Management, ICF Kaiser International, Westinghouse Electric Corporation, The American Nuclear Energy Council and staff work within the House of Representatives. Billings has a Bachelor’s of Arts in Political Science from the University of Puget Sound and has participated in the Executive Development Program at the Wharton School of Business, University of Pennsylvania.
Lockheed Martin is working with its customers to address the nation’s energy and climate challenges in the areas of energy efficiency, management, next-generation alternative energies, and climate monitoring. The Corporation provides a full range of energy solutions to the government and regulated industry, including the DOE, state and regional energy organizations, utilities and businesses. Lockheed Martin is one of the nation’s largest implementers of energy efficiency programs for utility customers.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
Hamilton Sundstrand Starts Boeing 787 Engines
May 28, 2009
WINDSOR LOCKS, Conn., May 28 /PRNewswire-FirstCall/ — Hamilton Sundstrand variable frequency starter generators successfully started the Rolls-Royce Trent 1000 engines on the Boeing 787 Dreamliner. The engine start occurred May 21 on Boeing’s ZA001 development aircraft at Boeing’s Everett, Wash., facility. Hamilton Sundstrand is a subsidiary of United Technologies Corp. (NYSE: UTX).
“This was the first electrical start of a turbofan engine on a large twin-aisle commercial jet transport and Hamilton Sundstrand is proud to have partnered with the Boeing and Rolls-Royce teams on this success,” said Tim Morris, Hamilton Sundstrand president, 787 Programs. “To help ensure this successful start, we had conducted more than 7,400 engine starts throughout our system development, in engine testbed flight testing and in the Boeing 787 Airplane Power System Integration Facility at Hamilton Sundstrand in Rockford, Ill.”
There are six starter generators on each Boeing 787: two auxiliary starter generators on the Hamilton Sundstrand-supplied Auxiliary Power Unit (APU), and two variable frequency starter generators (VFSGs) mounted on each Trent 1000 main engine.
An integral part of Hamilton Sundstrand’s 787 Electric Power Generating and Start System (EPGSS), the starter generators collectively supply nearly 1.5 megawatts of power, which is enough to power about 400 homes, and more than five times the electric power on a current Boeing 767. Combined with the elimination of the high pressure pneumatic system, this results in an overall reduction of power required at cruise.
Prior to engine start, the auxiliary starter generators start the APU that supplies power through the Hamilton Sundstrand primary power distribution system to each of the Hamilton Sundstrand starter generators mounted on the Trent 1000 gearbox system, also supplied by Hamilton Sundstrand. The VFSGs spin the main engine for starting, and once the engines come up to speed and are on line, the engine-mounted VFSGs automatically switch from starter mode to generate mode and provide electric power to the airplane.
The engine start process employs other Hamilton Sundstrand systems unique to this first more electric airplane, including a series of high power density motor controllers.
This engine start is the latest in a series of successful 787 starts for Hamilton Sundstrand, including the May 12 Auxiliary Power Unit start, and the May 16 initial start-up of the Nitrogen Generation System.
In addition to the EPGSS, Boeing also chose Hamilton Sundstrand to provide the 787’s environmental control system, auxiliary power unit, remote power distribution system, primary power distribution system and high-voltage DC equipment racks, emergency power system, nitrogen generation system, galley cooling systems, and electric pump subsystem. Hamilton Sundstrand’s Kidde Aerospace & Defense business is supplying Boeing with the complete fire protection systems package for the 787. The Hamilton Sundstrand engine gearbox system for the Rolls-Royce Trent 1000 comprises the engine accessory gearbox, oil tank, and lube and scavenge pumps.
The 787 program is expected to generate more than $15 billion in revenue for Hamilton Sundstrand over the life of the program.
With 2008 revenues of $6.2 billion, Hamilton Sundstrand employs approximately 18,000 people worldwide and is headquartered in Windsor Locks, Conn. Among the world’s largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs.
United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries worldwide.
BVR Systems Announces Raising of $3.5 Million
May 28, 2009
ROSH HA’AYIN, Israel, May 28 /PRNewswire-FirstCall/ — BVR Systems (1998) Ltd., (OTCBB: BVRSF.OB), a diversified world leader in advanced military training and simulation systems, today announced, entering into an agreement with Yuval Golan Investments Ltd. and Michael Golan Securities Holdings Ltd. (collectively the “Investor”) pursuant to which the Investor shall provide to the Company $3,500,000 by way of a debenture (the “Debenture Amount”). Of the Debenture Amount $2,000,000 shall be provided to the Company no later than May 31, 2009 and the balance of $1,500,000 shall be provided on June 21, 2009.
The Company shall repay the debenture twelve months from the date of its issuance by payment to the Investor of $3,850,000.
In the event of a M&A transaction during the 12 months period commencing as of the provision of the Debenture Amount the Company shall immediately repay the debenture by payment to the Investor of $4,550,000.
In addition, the Company shall grant to the Investor an option to purchase 3,000,000 Ordinary Shares of the Company, at an exercise price per share of $0.18, exercisable for a period of five years.
It is agreed that if the Company shall not repay the Debenture Amount 12 months from the date of its provision then (a) as of the commencement of the second year the Debenture Amount shall bear a return rate of 15% per annum; (b) upon a M&A transaction during the second year as of the provision of the Debenture Amount the Company shall repay to the Investor an amount of $5,600,000; and (c) the Company shall issue to the Investor additional options to purchase 6,000,000 Ordinary Shares, at an exercise price per share of $0.18, exercisable for a period of four years commencing as of the date of entitlement.
The Debenture Amount to be provided by the Investor shall be secured by a pledge of rights and payments due to the Company under a certain license agreement.
About BVR Systems
BVR Systems (1998) Ltd. is a world leader in advanced defense training and simulation systems. The Company offers highly efficient, cost-effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces.
AAR Names Randy Martinez Senior Vice President, Government & Defense Programs
May 28, 2009
WOOD DALE, Ill., May 28 /PRNewswire-FirstCall/ — AAR CORP. (NYSE: AIR) announced today that the Company has named Randy J. Martinez Senior Vice President of Government and Defense Programs.
Before joining AAR in March 2009, Martinez served as the Chief Executive Officer of World Air Holdings, Inc. which, through its subsidiaries, provided air transportation services for the U.S. Government. Martinez also had a distinguished 21-year career with the U.S. Air Force (Colonel retired and Command Pilot). His latest assignment was as the Principal Advisor to the Chief of Staff of NATO’s Strategic Planning Staff. His previous assignments included Senior Aide-de-Camp to the Chairman of the Joint Chiefs of Staff, Commander of the 457th Airlift Squadron at Andrews Air Force Base in Maryland and Chief of the Wing Standardization & Evaluation Division at Rhein Main Air Base in Germany.
“Randy contributes a tremendous understanding of the government and defense services market to our organization,” said David P. Storch, Chairman and Chief Executive Officer of AAR CORP. “His extensive leadership experience, both as a service provider to the U.S. Government and a highly decorated officer in the Air Force, make him an excellent choice to strengthen the Company’s position in these markets and identify opportunities to further diversify our business.”
AAR is a leading provider of products and value-added services to the worldwide aerospace and government/defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems; and Aircraft Sales and Leasing.
Frontier Airlines Comienza Nuevo Ejercicio Económico con Ganancia Neta de $2,4 Millones en Abril
May 28, 2009
28/05/2009 /PR Newswire Latinoamerica/ — La Empresa Informa Ganancia Operativa por Sexto Mes Consecutivo
DENVER, 28 de mayo /PRNewswire-FirstCall/ — Frontier Airlines Holdings, Inc. (Pink Sheets: FRNTQ) informó hoy una ganancia neta de $2,4 millones y una ganancia operativa por sexto mes consecutivo. Los resultados fueron presentados en el Informe Operativo Mensual No Auditado de la empresa para abril de 2009.
Para el mes de abril de 2009, Frontier informó una ganancia operativa consolidada de $5 millones, contra la pérdida operativa de $21,9 millones computada en igual período de 2008, y una ganancia neta consolidada total de $2,4 millones, frente a la pérdida neta de $26,9 millones informada en abril de 2008. Sin considerar los gastos de $1,1 millón asociados con la quiebra, la empresa hubiera registrado una ganancia neta de $3,4 millones, o un margen neto de 4%.
American Airlines Recuerda a los Pasajeros los Límites de Equipaje y Cajas en la Temporada de Verano
May 28, 2009
28/05/2009 /PR Newswire Latinoamerica/ — El verano se acerca con rapidez y por eso American Airlines y su empresa relacionada regional American Eagle recuerdan a sus clientes el límite a la cantidad de equipaje y cajas que pueden llevarse en vuelos a ciertos destinos, que regirá desde el 6 de junio hasta el 25 de agosto de 2009.
“La intención de American es brindar el mejor servicio posible al cliente, teniendo en cuenta las necesidades de todos los pasajeros”, dijo Peter Dolara, Vicepresidente Senior de American para México, el Caribe y América Latina. “Existen límites a la cantidad de equipaje que se puede llevar, tanto en la cabina como en las áreas de carga, según las dimensiones del avión”.
Debido a la cantidad de cargamento transportado durante el verano y los altos volúmenes de equipaje despachado, los clientes que viajen por American o American Eagle a ciertos destinos en México, el Caribe, América Central o América del Sur no podrán despachar equipaje o cajas adicionales durante el período de vigencia de la limitación.
Cessna Receives FAA Approval for Flight Instructor Safety Stand Down
May 28, 2009
WICHITA, Kan., May 28, 2009 Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, has received Federal Aviation Administration (FAA) approval for its flight instructor safety stand down, a first for any aircraft original equipment manufacturer (OEM).
The safety stand down is a training seminar designed for flight instructors, flight instructor candidates and commercial pilots who may have an interest in becoming flight instructors. The course serves as an all-inclusive training event for several mandated recurrent courses with an emphasis on using new technology to enhance aviation safety. The course will also serve as a flight instructor refresher clinic. Using knowledge and experience gained through years of training operations, Cessna instructors designed the 18-hour course.
The first-ever Cessna Flight Instructor Safety Stand Down is scheduled for June 13-14 in San Diego, Calif.
Cessna Citation Service Centers Welcome Avfuel Charge Cards
May 28, 2009
WICHITA, Kan., May 28, 2009 Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today its U.S. Citation Service Centers now accept Avfuel Charge Cards and Cessna Contract Fuel Cards from Avfuel Corp., the nation’s leading independent supplier of aviation fuels and services.
“We are very pleased to offer the additional convenience of Avfuel charge cards to thousands of Citation customers using our company service centers in the U.S.,” said Cessna Vice President of Service Facilities Stan Younger. “Avfuel’s cards are designed specifically to meet the needs of aircraft owners and operators and now card holders will be welcomed by our Cessna-owned Citation Service Centers.”
Based in Ann Arbor, Mich., Avfuel Corp. serves the global aviation industry through a network of more than 600 domestic dealers and 700 international locations with Avfuel Contract Fuel. Avfuel is the leading independent supplier of aviation fuel and services to FBOs as well as a diverse market of specialty carriers including airlines, freight companies, military special operations, helicopter users and corporate flight departments.
Cessna’s Citation Service Centers offer comprehensive maintenance services and programs designed to enhance the experience of owning and operating Cessna Citations, the world’s most popular and productive line of business jets. In addition to Avfuel charge cards, the Citation Services Centers accept most major charge cards.
AgustaWestland Opens New Dedicated T129 Facility
May 28, 2009
AgustaWestland, a Finmeccanica company, is pleased to announce the opening of its new T129 facility in Cascina Costa, Italy. The official opening ceremony was attended by delegates from the Turkish Undersecretariat for Defence Industries (SSM), Turkish Land Force Command and Turkish General Staff as well as industry representatives from Turkish Aerospace Industries Inc. (TAI) and Aselsan.
The T129 programme is on schedule and on budget, and has already successfully completed a System Requirements Review in January 2009 while the Preliminary Design Review is ongoing. The new dedicated facility, staffed by more than 70 Turkish and AgustaWestland integrated team technicians, comprises an assembly area for the T129 prototypes as well as office space for the T129 team members. The entire facility has been designed to bring together the integrated team into a single location to enable all industry partners to work together in a highly efficient manner.
The T129 programme represents a new endeavour between AgustaWestland and Turkish aerospace industries with the aim to develop in Turkey a modern helicopter industry to satisfy the future requirements of the Turkish armed forces as well as enhancing the technological capabilities of the Turkish defence industry. Through the T129 programme AgustaWestland is transferring its know-how to its Turkish industrial partners to make the T129 the most advanced helicopter in its class, so satisfying the requirement of the Turkish Land Forces as well as making it very appealing to the international market where Turkish industry will play a primary role.
The first T129 helicopter demonstrator (P1) is planned to fly in Italy soon, followed by P2 and P3 prototypes in 2010. P4, the first TAI aircraft, is scheduled to be delivered to TAI early next year for final assembly in Turkey and will be used to achieve military certification for the full T129 configuration. Aircraft P4 will then be delivered to the Turkish Army as the first production helicopter. The programme also includes a second TAI assembled prototype, P5, which will fly in the first half of 2011.
The AgustaWestland AW129 was selected to meet the Attack and Tactical Reconnaissance Helicopter (ATAK) requirement of the Turkish Land Forces Command in March 2007 leading to contract signature in September 2007. In accordance with the contract, TAI is the appointed prime contractor while AgustaWestland and Aselsan are the main sub contractors. In addition many leading Turkish aerospace companies are also involved in the programme with significant industrial benefits for Turkey, including local final assembly, delivery and acceptance of the aircraft. The partners have formed the ATAK TEAM to develop the T129.
GOL Anuncia o Encerramento da Distribuição de Debêntures Não-Conversíveis da VRG Linhas Aéreas S.A.
May 27, 2009
São Paulo, 27 de maio de 2009 – A GOL Linhas Aéreas Inteligentes
S.A. (Bovespa: GOLL4 e NYSE: GOL), a maior companhia aérea de baixo
custo da América Latina, e controladora da companhia aérea brasileira
VRG Linhas Aéreas S.A. (“VRG”), anuncia que foi encerrada hoje a
distribuição da 3ª emissão de debêntures simples, não conversíveis em
ações, da espécie com garantia real, emitidas pela VRG (“Debêntures”)
no montante de R$400 milhões.
As Debêntures foram distribuídas mediante esforços restritos de
colocação pública, observadas as regras da Instrução da Comissão de
Valores Mobiliários (“CVM”) n.º 476, de 16 de janeiro de 2009
(“Instrução CVM 476”), tendo sido destinada exclusivamente a
investidores qualificados, nos termos da regulação aplicável.
A emissão foi realizada em série única de R$ 400 milhões,
parcialmente garantidos por alienação fiduciária de recebíveis.
As Debêntures serão remuneradas a uma taxa de juros de 126,50% do CDI
e sua amortização será realizada em 18 pagamentos mensais e
consecutivos, com 6 meses de carência, a partir do sétimo mês da data
de emissão, com vencimento do ultimo em 13 de maio de 2011. A
emissora poderá resgatar as Debêntures a qualquer momento e a seu
critério.
“Essa operação faz parte do plano de reconstrução do caixa da
Companhia, com um objetivo de atingir um saldo de caixa e
investimentos de curto prazo no montante de R$ 800 milhões até o
final de 2009”, destaca Leonardo Pereira, Vice-Presidente Financeiro e
Diretor de Relações com Investidores da GOL.
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