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Kratos Secures $54M Task Order To Develop Low Cost, Limited Life Engine For Attritable And Expendable Systems

Kratos Defense & Security Solutions, Inc’s (NASDAQ:KTOS) division Kratos Turbine Technologies (KTT) Division, has been awarded a task order contract to…
byAkanksha Bakshi
July 25, 2022
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  • Kratos Defense & Security Solutions, Inc’s (NASDAQ:KTOS) division Kratos Turbine Technologies (KTT) Division, has been awarded a task order contract to develop a low-cost, limited life engine for attritable and expendable systems.
  • The contract is part of the Air Force Research Laboratory, Aerospace Systems Directorate, Turbine Engine Division (AFRL/RQT), Attritable Cost Optimized Limited Life Engine Technologies (ACOLLET) program.
  • The initial $6.8 million effort will focus on key component testing and engine optimization trade studies to validate the engine’s capabilities for future systems.
  • “The new contract allows KTT to continue the great working relationship with AFRL’s Turbine Engine Division to bring disruptive engine technology to the warfighter. Both parties are focused on increasing system mission capability while providing engines at a lower cost. All of Kratos is focused on supporting the United States warfighter and industrial base, including making significant investments in the development and production of next-generation engines and supporting STEM opportunities in the USA,” commented Stacey Rock, President of Kratos Turbine Technologies Division.
  • Price Action: KTOS shares are trading higher by 0.96% at $14.45 on the last check Monday.
 
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Credit Suisse Group Reaches Settlement in French Legacy Case; Fine Comprising a Profit Disgorgement of €65.6M, Payment of Additional €57.4Ml; €115M to French State

By Charles Gross
October 24, 4:40 AM
Credit Suisse announces today that it has reached a settlement with the Parquet National Financier (PNF) to resolve a legacy matter in relation to an investigation into historical cross-border private-banking services. The settlement provides for a public interest fine comprising a profit disgorgement of EUR 65.6 million and the payment of an additional amount of EUR 57.4 million.

CS