NGC Australia Agrees to Acquire Qantas Group's Defence Services Business
Northrop Grumman Australia Pty Limited, a subsidiary of Northrop Grumman Corporation (NYSE:NOC), announced that it has signed a definitive agreement with Qantas Airways Limited (ASX:QAN) to acquire Australia-based Qantas Defence Services Pty Limited (QDS). QDS provides integrated logistics, sustainment and modernization support to Australian government and military customers. The acquisition is subject to various conditions and is expected to close in 2014. Terms of the transactions were not disclosed.
"QDS complements our current integrated logistics and modernization efforts and advances our international strategy. We expect QDS will provide an important platform for international growth in our key focus areas of unmanned, C4ISR, cyber, and logistics and modernization," said Wes Bush, Northrop Grumman chairman, chief executive officer and president.
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"Northrop Grumman's in-country revenue and footprint are significantly enhanced by the QDS acquisition, underscoring our commitment to the Australian and regional defence markets," said Ian Irving, Northrop Grumman chief executive for Australia.
With more than 300 employees in facilities throughout Australia, QDS provides through life support for the Royal Australian Air Force (RAAF) Multi Role Tanker Transport fleet, turn-key operational logistics services for the Australian Government's VIP aircraft, and engine overhaul services for the Orion P-3 and Hawk Lead-in Fighter. In addition, Indonesia recently awarded QDS a contract to refurbish C-130H aircraft. QDS also provides engineering consultancy services to the Royal Australian Navy and other maritime customers.
Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cyber, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.
This release contains statements, other than statements of historical fact, which constitute "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "intend," "may," "could," "plan," "project," "forecast," "believe," "estimate," "outlook," "anticipate," "trends," "guidance," "goal," and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to update or revise any forward-looking statements after the date of this announcement. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of these risks and uncertainties is contained in the Company's filings with the Securities and Exchange Commission.
Source : Northrop Grumman - view original press release