To be added to the Murtha Watch ping list please notify myself or RedRover.
Posted on 05/11/2008 10:24:26 AM PDT by jazusamo
Officials from DRS Technologies, Inc. are tight-lipped regarding emerging reports that it may be acquired by an Italian aerospace and defense company.
The Wall Street Journal reported late last week that Finmeccanica SpA, Italy’s largest defense company, is in advanced negotiations to acquire New Jersey-based DRS.
More than 800 DRS workers, nearly 10 percent of the company’s workforce, are located at its Laurel Technologies facility in Richland Township. Officials from the local site reached on Saturday had no comment.
DRS officials corporate wide have been mum on the topic. The company’s only response was a two-sentence statement issued on its Web site.
The statement read that the company is “contemplating a potential strategic transaction,” but “there is no assurance that any agreement will be reached.”
Matt Mazonkey, a spokesman for U.S. Rep. John Murtha, D-Johnstown, said on Saturday that the congressman’s office has contacted DRS regarding the situation.
Mazonkey said that DRS officials had little additional information to share with the congressman. But he said that a potential acquisition by Finmeccanica could be a positive development for DRS and its Johnstown operation.
“Finmeccanica is bigger than DRS,” Mazonkey said. “Its revenues are about four times as much as those of DRS.
“It’s too early to comment on what this means other than what we’re hearing is that Finmeccanica has the potential to expand business in the United states which we hope would mean more work for Johnstown.”
DRS Technologies Corporate Information
Excerpt:
DRS responds to the needs of U.S. and allied military forces, as they engage in day-to-day expeditionary activities, by providing high-tech products and systems that improve the capabilities of many key platforms. The Company also provides a range of military support systems and services. DRS’s products are deployed on a wide range of high-profile military platforms, such as DDG-51 Aegis destroyers, M1A2 Abrams Main Battle Tanks, M2A3 Bradley Fighting Vehicles, OH-58D Kiowa Warrior helicopters, AH-64 Apache helicopters, F/A-18E/F Super Hornet and F-16 Fighting Falcon jet fighters, F-15 Eagle tactical fighters, C-17 Globemaster II and C-130 Hercules cargo aircraft, Ohio, Los Angeles and Virginia class submarines, and on several other platforms for military and non-military applications. We have contracts that support future military platforms, such as the DDG-1000 destroyer, CVN-78 next-generation aircraft carrier, Littoral Combat Ship and Future Combat System.
Own the Beachfront Home of Your Dreams! Just Call John Murtha Harper‘s Apr. 12, 2008
Excerpt:
How Lawmaker Rebuilt Hometown on Earmarks WSJ Oct. 30, 2007
Excerpt:
No Pentagon Support
One beneficiary is New Jersey-based DRS Technologies Inc., a multibillion-dollar maker of military electronics. The company entered Mr. Murtha's district a decade ago when it bought a small cable assembler. Since then, the congressman has helped fund nearly $400 million in contracts for the local DRS unit, building data-display terminals installed in Navy destroyers and submarines.
The Pentagon didn't ask for many of these contracts in its annual budget requests. Mr. Murtha assured the work would be done in his district by earmarking part of the program to DRS.
Reconstructing Murtha II: Pork and Earmarks American Thinker Nov. 22, 2005
Excerpt:
'In the House version of the fiscal 1999 defense appropriations bill, Rep. John P. Murtha (D—Pa.) has inserted $ 25 million in funding for DRS Laurel Technologies in Johnstown, his hometown. He inserted another $ 25 million or so in classified funds for a Johnstown drug intelligence center and millions more for a Johnstown research group studying 'environmental excellence' and other issues.
To be added to the Murtha Watch ping list please notify myself or RedRover.
As employees We always knew something wasn’t right now we know.. !
There sure is an awful lot of news out, about this.
Yes there is and has been for several days but our enemedia has been silent about it until his hometown paper decided to print something on it. Bet he’s not too happy his paper is the first in the enemedia to do so. LOL!
There’s an awful lot of fishy stuff. I’ve heard it said, “If it looks like dog shite, smells like dog shite, and tastes like dog shite...it ususally is dog shite.”
So the ex-Marine has dipped his dishonorable hands into another deal.
Thanks for the link, Smooth.
They seem to have the facts down pretty well. It’s hard to imagine him still being in office with the number of people that know of his corruption but the majority of the voters in his district don’t seem to mind. It’s very sad!
Agreed, Jaz.
Paul Magliocchetti, The PMA Group and Murtha are the real reason DRS gets money from the taxpayers through “earmarks”.
PMA is the parent group of DRS in Murtha’s taxpayer ripoff, campaign contribution kickback Ponzi scheme. DRS is just a member of a far larger insidious enterprise.
The only good thing to come out of this is that is opens up our defense spending to other military systems which may be superior to ours thereby saving billions in R&D time and dollars. However it also opens up more avenues of funny money to Smurffa and friends and puts him in more open contact with many huge worldwide companies under the control of Finmeccanica S.p.A.,- companies such as BAE Systemes, MBDA (world’s second largest manufacturer of millile technology after Raytheon),Quadrics (working with Bull of France to build the fastest supercomputer), and other companies...
You can smell the bacon sizzling....
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