Monday, June 13, 2022

L3Harris Company

 

 About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries.

Harris Corporation and L3 Technologies have completed the all-stock merger between the two companies. The combined company is called L3Harris Technologies, and it will be the sixth largest defense company in the U.S.

The new company will have approximately $17 billion in revenue and 50,000 employees.

The company announced on Monday that it has organized its businesses into four segments including Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems.

The Communication Systems Division will be led by Dana Mehnert, and it will be headquartered in Rochester.

Harris has more than 3,500 employees in the Rochester area in the Communications segment and the Space and Intelligent Systems business. There are nearly 200 employees who work for L3 Technologies in Victor.

Last fall, Senator Chuck Schumer said that he had talked with Harris CEO William Brown and the senator said that Brown told him he was committed to keeping the number of employees now employed by Harris in the Rochester area with the possibility that number will grow.

With the new management structure, Brown will serve as Chairman and CEO of L3 Harris, with Christopher Kubasik serving at Vice Chairman, President and COO.

The plan, as outlined last year, would see Brown serving as Chairman and CEO for the first two years; after that, Brown would become Executive Chairman and Kubasik becomes Chairman and CEO. Following that time, Kubasik becomes both Chairman and CEO.

L3Harris Technologies will trade on the NYSE under the ticker symbol ‘LHX.’
It was formed from the merger of L3 Technologies (formerly L-3 Communications) and Harris Corporation on June 29, 2019, and was expected to be the sixth-largest defense contractor in the United States.
 
In October 2018, L3 announced an all-stock "merger of equals" with Florida-based Harris Corporation, to be closed (subject to approvals) in mid-2019. The merger was completed on June 29, 2019, and the new company, L3Harris Technologies, Inc., is based in Melbourne, Florida, where Harris was headquartered.
 

L3Harris awarded 4-year, $482 million USD performance based contract extension to continue support of the Royal Canadian Air Force's CF-18 Hornet fighter aircraft fleet.

Highlights:

• Recognizes L3Harris’ premier in-service support capabilities and expertise

• Maintains L3Harris’ position as Canada’s only fighter aircraft center of excellence

• Marks 35 years of successful Canadian partnership on the CF-18 fleet

Sample of Job Description at this company

L3HARRIS WESCAM
 — Hamilton, ON
Test & Integration Technician (Service) - Day Shift -. From long-range covert surveillance missions to search and rescue operations,

 Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about ESG goals are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

No comments:

Post a Comment