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$COL General Update: GPS Source and Rockwell Collins have successfully demonstrated the ability of the Military-Code Ground-Based GPS Receiver Application Module (GB-GRAM-M) receiver card to fit within the Defense Advanced GPS Receiver (DAGR) Distributed Device (D3).
With regard to $COL acquisition, $UTX still does expect to close the deal sometime in midyear. $UTX is working through the second request with the DOJ right now. $UTX had earlier expected to fund part of the cash aspect of the deal through foreign cash and now the company is going to bring back about $1Bil a year to pay down the debt.
$UTX announced the transformative $COL acquisition which will create a premier aerospace supplier. As a result of this proposed transaction, together with the investments in the company's businesses and in its digital strategies, $UTX is positioned well for years to come. The company expects all of its businesses to grow sales and earnings in 2018.
$UTX expects FY18 adjusted EPS of $6.85-7.10 and total sales of $62.5-64Bil, which includes organic sales growth of 4-6%. The company predicts free cash flow in the range of $4.5-5.0Bil. In 2018, $UTX expects accelerating organic sales and adjusted EPS growth along with strong cash generation. The outlook excludes proposed $COL acquisition.
The Defense Logistics Agency has awarded a $22MM contract to defense solutions provider $COL to provide support for the Robins Air Force Base maintenance depot. The initial contract will run for three years, under which Rockwell Collins will provide supply chain management for replacement parts on various airborne communication products.
$COL said its large-format flight display upgrade for Boeing 767 aircraft received European Aviation Safety Agency (EASA) type certification. The upgrade and certification were completed for Star Air through a collaborative effort between Rockwell Collins, Boeing, Atlantic Aviation Group and L2 Aviation.
$COL unveiled complete cabin and media control via a single Wi-Fi access point, made possible by integrating $COL’s Cabin Electronic System (CES) with the Airborne Data Router (ADR) from ARINCDirectSM. The integration adds the ability to prioritize multiple WAN networks as well as the ability to control the cabin CES functions.
$COL has announced a new variant of its TDR-94/94D Mode S Transponder to help aircraft owners meet the ADS-B Out mandate by 2019-end. The transponder’s latest improvement includes the ability to automatically generate a fixed flight ID from the Mode S code for US registered aircraft.
$COL received a five-year contract from Technology Application Contracting Office (TAKO) to provide avionics repair and logistics, field service support and spares management for Common Avionics Architecture System (CAAS). The total contract value is $30.7MM.
Virginia Railway Express (VRE) has signed an agreement with $COL to implement the company's ARINC RailwayNet service. ARINC RailwayNet is a hosted network, messaging and application platform for passenger and freight railroads which creates a common communication infrastructure for PTC solutions.
Inmarsat signed a strategic agreement with $COL for the global distribution of its next-generation SwiftBroadband-Safety (SB-S) flightdeck connectivity solution. The agreement builds on a successful long-term strategic relationship between the two companies and will bring new levels of safety and operational efficiency to the aviation industry.
Amtrak signed an agreement with $COL to implement the company’s ARINC RailwayNet service on about 310 Amtrak locomotives operating across the US. ARINC RailwayNet is a hosted network, messaging and application platform, designed to assist operators in meeting the Positive Train Control requirements mandated by the Rail Safety Improvement Act.
$UTX to acquire aircraft parts manufacturer $COL for $140 per share in cash and $UTX stock. $UTX reaffirmed its expectations for 2017 sales of approx. $58.5-59.5Bil and adjusted EPS of $6.45-6.60 per share. On a pro-forma 2017 basis, $UTX is expected to have global sales of about $67-68Bil following the transaction, based on estimated results.
$UTX to acquire aircraft parts manufacturer $COL for $140 per share in cash and $UTX stock, split between $93.33 in cash & $46.67 in $UTX stock. Under the deal, $COL and $UTX aerospace systems segment will be combined to create a new business unit named Collins Aerospace Systems. The deal is expected to generate cost synergies in excess of $500MM.
Defense technology company $COL has delivered its latest digital GPS receiver technology to the US Air Force Special Operations Command. The system provides airborne anti-jam capability with significantly improved jamming resistance, compared to the earlier model.
Aviation solutions company $COL has received a $37.4Bil contract from the US Army to provide command, control, communications, surveillance and reconnaissance services. The five-year contract, which is part of a multiple-award contract vehicle, has a five-year renewable option.