In April 2015, BAE Systems was awarded a USD$688 million contract for the procurement of the Paladin M109A7 artillery system. As a replacement for the M109A6 Paladin cannon, this recent upgrade offers fire-support for a variety of combat missions. This artillery system will mainly be utilized by the US Army’s Armored Brigade Combat Teams (ABCTs). The contract will include the purchase of 18.5 vehicle sets, which includes 19 M109A7 howitzers and 18 M992A3 carrier ammunition tracked vehicles. Extending to 2050, the contract calls for a total of 580 Paladin vehicles to be released, with the first estimated delivery in the summer of 2015. Research alone is estimated to cost nearly $63.9 million. Upgrades to the previous system include increased reliability, lifetime, and performance. BAE Systems will make changes to the hull, turret, engine, and suspension systems. A crew of four is necessary to operate the 9.7m tall, 3.9m wide, and 3.7m high machinery. The maximum gross weight is measured at 35,380kg, thus allowing a light-weight system to operate in harsh weather conditions, during night and day. Read more >>

Toyota Motor Corp. has decided to begin building plants again after a 3-year hiatus. With plans of spending approximately USD$1.25 billion, the new Toyota factories will be constructed in Guanajuato, Mexico and Guangzhou, China. With a final decision to be made by the end of this month, the plants have an estimated operational date in 2018 or 2019 and will increase the production capacity of Toyota by several hundred thousands of vehicles. The new production will stand as the end of a period of caution in which Toyota President Akio Toyoda called for an overhaul of manufacturing lines. With this expansion being the first major investment since its new Thailand plant in 2012, Toyota has developed innovative manufacturing equipment and engineering technology for increased factory efficiency. This technology can be used to decrease the size of new plants, provide greater efficiency, and can decrease initial plant investment by 40 percent compared to those built before 2008. Read more >>

Philips has decided to sell 80% of its holding in its lighting components business for $2.8 billion. The purchasing company, Go Scale Capital, is a technology fund that is looking to increase the company’s automotive and LED businesses. Go Scale Capital plans to expand the already existing business of selling more car lighting systems and LED lamps along with building on Philip’s customer base such as Volkswagen, BMW, and Audi. Philips recently began streamlining their business by selling off underperforming parts—this sale in particular is a preface to Philips’s next great strategic move of spinning off their main lighting division. The sale stands as a significant turning point for Philips, which has sold lighting products since 1891. Read more >>

Raytheon’s Evolved Sea Sparrow Missile (ESSM) is making its grand transition from water to air. This is a medium-range, surface-to-air missile that is currently utilized by twelve NATO nations and the US Navy. Originally, this missile was used for self-defense and high fire-power from ships. Other uses include low velocity air threats (LVATs), high-diving threats, surface-based targets, and flying targets, such as aircrafts and helicopters. First trials took place on the Nimitz-class aircraft carrier USS Theodore Roosevelt. A recent upgrade was made to create the RIM-7 Sea Sparrow Missile. Read more >>

Longtime aluminum producer Alcoa is making an audacious move forward to increase revenue and expand business. Currently headquartered in New York, Alcoa is making a global shift in production. Manufacturing of raw materials is moving to mainly Asian markets. Due to higher electricity costs in the West, they are reducing more than 500,000 tons of annual smelting capacity, which makes up nearly 14% of total annual capacity. Specifically, the production of raw aluminum makes up about 30% of electricity costs. Read more >>