Made in America: Farnborough Airshow in London procures more than $100 billion in new industry orders
by July 17, 2016 7:28 am 148 views
Editor’s note: Each Sunday, Talk Business & Politics provides “Made In America,” a round-up of state and global manufacturing news.
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FARNBOROUGH AIRSHOW IN LONDON PROCURES MORE THAN $100 BILLION IN NEW INDUSTRY ORDERS
At the close of the Farnborough International Airshow 5-day trade exhibition, organizers said Friday (July 15) that the show had recorded orders and options valued at $123.9 billion. Farnborough International’s internal order tracker recorded a total of 856 aircraft valued at $93.98 billion, 1407 engines valued at $22.7 billion and a variety of other business deals worth $7.2 billion, officials said.
Notable deals over the week included Virgin Atlantic concluding its purchase for 12 Airbus A350-1000 and the UK Government confirming the purchase of 50 Apache Helicopters and 9 Boeing P-8 Poseidon aircraft. Topping the order chart was AirAsia, which signed a deal to purchase up to 100 Airbus A321neos.
Gov. Asa Hutchinson and AEDC officials had a big presence at the airshow with aerospace being one of Arkansas’ leading export industries.
NEW FEDERAL PARTNERSHIP WILL EXPAND AMERICORPS ACROSS THE DELTA REGION
A new partnership for national service, DeltaCorps, will help address economic and social needs of local communities in the eight states of the Mississippi River Delta region, leaders from the Delta Regional Authority and Corporation for National and Community Service, the federal agency that administers AmeriCorps, announced Friday. This partnership, valued at $1.6 million, will deploy up to 100 AmeriCorps members to the Delta region over the next year.
According to Chris Masingill, federal co-chairman of the DRA, the added capacity that DeltaCorps brings to community organizations will help them expand and reach into traditionally underserved communities.
The Notice of Federal Funding Availability has been posted on both agencies’ websites at www.dra.gov/DeltaCorps and www.nationalservice.gov/DeltaCorps. The program is accepting applications on a rolling basis. Organizations with existing infrastructure to support the AmeriCorps program are invited to apply for DeltaCorps member slots.
U.S. UNDIES GIANT GOES DOWN UNDER TO ACQUIRE AUSTRALIA’S TOP BRAND FOR $800 MILLION
U.S. underwear, intimate apparel and activewear giant HanesBrands announced Friday (July 15) that it has completed the acquisition of Pacific Brands Limited, the leading underwear and intimate apparel company in Australia. Hanes acquired the publicly traded Pacific Brands for nearly $800 million on an enterprise-value basis, or slightly more than 10 times the Australian companies projected 2016 earnings taxes.
Hanes has made six acquisitions in the past three years. The company now holds the No. 1 or No. 2 market share position for underwear, intimate apparel or hosiery in a dozen countries, including the U.S., Australia, France, Japan, Canada, Germany, Italy, Mexico, Spain, Brazil, South Africa, and New Zealand.
The acquisition is expected to result in significant savings through the use of Hanes’ large-scale, low-cost global supply chain, adding the U.S. global product design, development and innovation capabilities that span the Americas, Europe and the Pacific Rim.