ROMANIA > Romania agrees to purchase Raytheon’s Patriot from the U.S. Army spending 2% of tis GDP on defense

Raytheon logo Romania has signed an agreement to purchase Raytheon’s Patriot from the U.S. Army paving way for Romania’s Patriot force to rapidly reach Initial Operational Capacity. A purely defensive system that is also the backbone of NATO’s defense including thirteen other nations including the U.S and European nations such as Germany, Greece, the Netherlands, Spain, Patriot is defense against ballistic and More …

TAIWAN > UK based MB Aerospace is set to acquire Taiwan based Asian Compressor Technology Services Company Limited (ACTS)

mb aerospace logo MB Aerospace is set to acquire Taiwan based Asian Compressor Technology Services Company Limited (ACTS) likely to be completed by January 2018. The business will trade as MB Aerospace ACTS (Taiwan) after the completion of the deal. Founded in 1995 as a joint venture by Pratt & Whitney, China Airlines and Singapore Airlines Engineering Company, ACTS provides in- house repair More …

INDIA > US based WRV Capital raises Rs. 120 crore ($18.4 million) for Tonbo Imaging

tonbo-4 Tonbo Imaging, a startup that has partnered with the Indian military and has been valued north of Rs. 400 crore ($ 62 million), has raised Rs 120 crore ($18.4 million)  in series –B funding led by WRV Capital along with Qualcomm Ventures and Edelweiss Private Equity. Tonbo Imaging has annual revenue of more than Rs 100 crore ($15.3 million), was More …

FRANCE > China Eastern to purchase 10 percent stake in Air France KLM for $438 million

China-eastern_logo In a first of its kind investment by a China’s state-owned airlines carrier, China Eastern Airlines Corp Ltd is buying a 10 percent stake in Europe’s Air France KLM SA for 375 million Euro ($438 million) according to Reuters. Delta, which holds a 3.2 percent stake in China Eastern, is also buying a 10 percent stake in Air France KLM. According More …

USA > Norway based logistic firm, Nammo, to establish logistic center in Missouri, USA

Nammo154px Nammo, a Norway-based international aerospace and defense company, is slated to establish a logistic center in Sedalia, Missouri (near Kansas City). According to Area Development, Nammo will be housing its newly formed subsidiary – Capstone Precision Group – by investing approximately $1 million for 30,000 square foot facility, to be operational by December 2017. Area Development reports that this facility More …