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Boeing doesn’t expect its recovery to be impacted by trade war with China
Boeing CEO Kelly Ortberg said Wednesday that he doesn't expect the U.S. trade war with China to forestall the Arlington County-based company's financial recovery. Meanwhile, RTX and General Dynamics surpass Wall St. expectations and Northrop Grumman is below forecast.
Smooth sailing for Virginia’s publicly traded companies, except Boeing
Overall, Virginia’s largest publicly traded companies saw 2024 as a successful year, reflecting the nation’s economic upswing of about 3% each quarter. Except for Boeing and “its ghastly record,” as George Mason University’s Terry Clower memorably said late last year about the Arlington-based Fortune Global 500 aerospace and defense giant. In January 2024, a Boeing […]
Northrop Grumman receives two contracts totaling $1.4B
Northrop Grumman has received two air and missile defense contracts worth a combined $1.4 billion, the Falls Church-based Fortune 500 government contractor announced last week. The contractor received two contracts from the U.S. Army and Poland. Under the $481 million, five-year contract from the Army’s Aviation Missile Technology Consortium, Northrop Grumman will expand software development[...]
Herndon contractor to acquire NG division for $327M
Herndon tech and management contractor Serco Inc. has agreed to acquire Northrop Grumman‘s mission training and satellite ground network communications software business (MT&S) for approximately $327 million. Serco Inc., a wholly owned subsidiary of United Kingdom-based Serco Group, announced the deal Wednesday, which is expected to close in mid-2025. MT&S provides the U.S. military [...]
Northrop Grumman subsidiary scores $3.4B Navy contract
Northrop Grumman Systems, a subsidiary of Falls Church aerospace and defense giant Northrop Grumman, has been awarded a $3.459 billion contract by the Navy to engineer and manufacture new nuclear aircraft, according to announcements from the Department of Defense and the Navy last week. E-130J jets will take the place of the Navy’s current E-6B […]
Three Va. CEOs make world’s most powerful women list
Three Virginia CEOs made Fortune’s 2024 list of the world’s 100 Most Powerful Women in business, which the media company released Wednesday. Kathy J. Warden, chair, president and CEO of Falls Church-based Fortune 500 defense contractor Northrop Grumman ranked highest among the trio of Virginia leaders, taking the No. 25 spot — a drop from […]
Growth in the valley
It can take a village — or a valley — to attract a multinational corporation. Shenandoah Valley economic and workforce development officials combined forces to entice Northrop Grumman to locate a 315,000-square-foot advanced electronics manufacturing and testing facility on a 63-acre site in Waynesboro, a project announced in November 2023. Construction of the $200 million-plus […]
Former Northrop Grumman CEO’s mansion sells for $9.95M
Former Northrop Grumman Chairman and CEO Wes Bush and his wife, Natalie, sold their McLean mansion June 28 for $9.95 million, according to Fairfax County records. Steven A. Sigsbury, an attorney with the Cochran Law Group in Tysons, is listed as the buyer of 903 Turkey Run Road and Baldy’s Bait and Tackle Trust is […]
Firefly Aerospace to launch at Wallops Island
Cedar Park, Texas-based Firefly Aerospace has picked Virginia Spaceport Authority’s Mid-Atlantic Regional Spaceport located on Accomack County’s Wallops Island as a new launch site for its two-stage orbital Alpha rocket, Gov. Glenn Youngkin announced Monday. A small launch vehicle, the Alpha serves commercial, civil and national security clients and can carry 2,200 pounds to low [&he[...]
Shenandoah Valley Big Deal: Advance guard
Northrop Grumman‘s $200 million investment to establish an advanced electronics manufacturing and testing facility in Waynesboro paves the way for long-term growth for the Shenandoah Valley, local officials hope. “It is a huge win for us,” says Jay Langston, executive director of the Shenandoah Valley Partnership. “If Northrop Grumman puts faith in our footprint, that […]
Northrop Grumman breaks ground on $200M Waynesboro facility
Falls Church-based Fortune 500 defense contractor Northrop Grumman broke ground Friday on its $200 million-plus facility in Waynesboro. Gov. Glenn Youngkin announced the planned facility, which will hold advanced electronics manufacturing and testing, in November 2023. Northrop Grumman anticipates creating an estimated 300 jobs — varied engineering and manufacturing roles — over the next five [...]
Northrop Grumman to establish $200M Waynesboro facility
Falls Church-based Fortune 500 defense contractor Northrop Grumman will invest more than $200 million to establish an advanced electronics manufacturing and testing facility in Waynesboro, creating an estimated 300 jobs over the next five years, Gov. Glenn Youngkin announced Tuesday. “Northrop Grumman’s expanding Virginia footprint sends a powerful message that the commonwealth is a ma[...]
