Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
MAG Aerospace looks for adjacencies as it plots growth path
MAG Aerospace, founded less than a decade ago, is seeking growth, hoping to expand into adjacencies and build a larger international business, according to its chief executive.
L3 acquires ASV Global
In a bid to boost its unmanned maritime business, L3 Technologies said it has acquired ASV global, an unmanned surface vessel and autonomous vessel control systems company.
Northrop Grumman bolsters presence in Salt Lake County
Northrop Grumman said late last week it has added 30 jobs at its composite manufacturing facility in Salt Lake County, UT, and plans to add 100 total jobs over the next several years.
Pentagon announces public meeting on progress payment rates
Following an industry outcry over a proposed change to progress and performance-based payment rates, the Defense Department said it will host a public meeting Oct. 10 "to obtain views of experts and interested parties in Government and the private sector."
Defense industry groups push back on DOD plan to reduce progress payments
Defense industry organizations are criticizing a Pentagon proposal to reduce progress payments as disruptive and out of line with congressional intent.
New L3 executives promise more integrated approach
NATIONAL HARBOR, MD -- Two L3 Technologies executives, both of whom joined the contractor this year, said the company's more integrated approach would open up opportunities, particularly in maritime work and in the international market.
Following Engility deal announcement, Moody's lowers SAIC's rating outlook
Moody's Investors Service said it has lowered Science Applications International Corp.'s rating outlook to negative from stable following the contractor's announcement it will buy Engility.
Lockheed Martin promotes Mullins
Lockheed Martin said it has named Robert Mullins senior vice president for corporate strategy and business development, succeeding Stephanie Hill.
Pentagon picks former Symantec CEO, China report co-author to lead Defense Innovation Unit
The Pentagon is bringing on the former CEO of cybersecurity firm Symantec and co-author of an influential report on China's technology transfer strategy to serve as the new head of the Defense Innovation Unit.
L3 promotes Davis
L3 Technologies said it has named retired Air Force Lt. Gen. C.R. Davis senior vice president of L3 International, effective immediately.
SOS International hires Haney
SOS International said it has named Michael Haney chief information officer.
The week ahead
The House returns in session this week to consider the fiscal year 2019 defense spending "minibus" and senior Pentagon officials are scheduled to speak at congressional hearings and conferences around the Washington area.
House positioned to send defense spending bill to Trump this week
The House returns to session this week eyeing a vote on a $675 billion defense appropriations bill that has already cleared the Senate and must be signed into law by Oct. 1 to prevent a partial government shutdown.
Defense intel chief wants new cloud database within three years
The Defense Intelligence Agency wants to upgrade its legacy database with a machine-assisted, cloud-based system and seeks to hit initial operational capability within the next three years, preferably two, according to DIA Director Lt. Gen. Robert Ashley.