logo
L3Harris plans further Arkansas expansion for rocket motor production

L3Harris plans further Arkansas expansion for rocket motor production

Reuters17-07-2025
WASHINGTON, July 17 (Reuters) - L3Harris Technologies (LHX.N), opens new tab plans to expand the size of its Arkansas solid rocket motor production facilities, it said on Thursday, as it seeks a sixfold production increase for large solid rocket motors to meet soaring demand.
The Russia-Ukraine war and conflicts in the Middle East have seen demand for arms and military equipment balloon, with militaries around the world aiming to replenish stockpiles, benefiting contractors such as L3Harris.
The Arkansas expansion is the company's latest effort to modernize its capabilities following its acquisition of Aerojet Rocketdyne and as the U.S. government attempts to develop an expanded homeland missile defense shield dubbed Golden Dome.
The nearly $500 million investment would develop an additional 110 acres, adding more than 20 buildings and 130,000 square feet of manufacturing space to the company's existing 2,000-acre site in Camden.
"Large solid rocket motors are essential to our nation's missile and strategic defense," said L3Harris CEO Chris Kubasik in a statement. "As the Trusted Disruptor, we are strengthening our ability to produce these systems rapidly and at scale, which is essential for current demand and the Golden Dome missile defense shield."
Large solid rocket motors are used in missile defense systems, interceptors, and hypersonic vehicles.
In February, L3Harris began building four solid rocket motor production facilities for smaller tactical weapons at its Camden site in Arkansas.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Three major chemical companies agree to pay $875m to New Jersey over PFAS claims
Three major chemical companies agree to pay $875m to New Jersey over PFAS claims

The Guardian

time3 minutes ago

  • The Guardian

Three major chemical companies agree to pay $875m to New Jersey over PFAS claims

Chemours, DuPont and Corteva have agreed to pay $875m over 25 years to the state of New Jersey to settle environmental claims including pollution linked to Pfas, or forever chemicals, the companies said on Monday. Lawsuits accusing major chemical companies of polluting US drinking water with toxic Pfas chemicals led to over $11bn in settlements in 2023, with experts predicting that new federal regulations and a growing awareness of the breadth of the contamination will spur more litigation and settlements. Pfas are a class of chemicals that are used in a wide range of products including non-stick cookware and firefighting foams. They are commonly called 'forever chemicals' as these substances do not break down easily in the human body or nature, and are associated with certain cancers, hormonal dysfunction and other diseases. The payments announced on Monday, whose present value is about $500m before taxes, will start no earlier than 1 January 2026. Chemours will make half of the settlement payments, while DuPont will pay 35.5% and Corteva the rest, the companies said in a statement. In 2023, the three firms reached a settlement agreement with the US state of Ohio for $110m to resolve claims associated with Pfas. That same year, 3M agreed to pay $10.3bn to settle hundreds of claims that the company polluted public drinking water with the chemicals, while Chemours, DuPont and Corteva reached a similar deal with US water providers for $1.19bn. Of the total settlement announced on Monday, $16.5m is attributed to alleged Pfas contamination unrelated to the companies' operating sites.

Hims & Hers falls as declining subscriber base weighs on revenue
Hims & Hers falls as declining subscriber base weighs on revenue

Reuters

time3 minutes ago

  • Reuters

Hims & Hers falls as declining subscriber base weighs on revenue

Aug 5 (Reuters) - Shares of telehealth firm Hims & Hers (HIMS.N), opens new tab fell as much as 5% on Tuesday after the company reported weaker-than-expected second-quarter revenue, hurt by a loss of subscribers in its weight-loss treatment as well as the sexual health business. Hims shifted to selling smaller, "personalized" dosages of Novo Nordisk's ( opens new tab popular weight-loss drug, Wegovy, after the U.S. Food and Drug Administration suspended sales of the drug's copies it had allowed during a period of drug shortage. The company recorded $190 million in GLP-1-related revenue, down around $40 million sequentially, as it also lost subscribers on its commercially available doses of Wegovy. Novo Nordisk ( opens new tab in June terminated its partnership with Hims over the company's marketing tactics and continued sales of Wegovy copies even after FDA's ban on such sales. Leerink Partners analysts flagged the GLP-1 revenue dip as expected. However, the market reaction was negative after the results, as investor expectations were elevated, due to a surge in shares this year. Hims' stock has more than doubled so far this year, while Denmark-listed shares of Novo have fallen over 50%. The brokerage called the softness in Hims' core business, which includes treatments for conditions related to sexual health, a negative surprise. Hims & Hers reported a decline in its subscribers for its sexual health business, which sells generic drugs for erectile dysfunction. Canaccord Genuity echoed a near-term caution for the company, but remained constructive on the longer-term growth potential, citing strong year-over-year gains in newer specialties such as dermatology, weight management, and daily-use sexual health solutions. Despite the stock's sharp post-earnings pullback, the brokerage called the move a potential buying opportunity. Hims shares are priced at 95.85 times the company's estimated earnings for the next 12 months, a common benchmark for valuing stocks.

Diamondback says it should be Permian's 'consolidator of choice' as oil outlook dims
Diamondback says it should be Permian's 'consolidator of choice' as oil outlook dims

Reuters

time3 minutes ago

  • Reuters

Diamondback says it should be Permian's 'consolidator of choice' as oil outlook dims

Aug 5 (Reuters) - Shale driller Diamondback Energy (FANG.O), opens new tab said on Tuesday it should remain the Permian Basin's "consolidator of choice" as shale activity slows and the company focuses on shareholder returns following its $26 billion merger with Endeavor Energy. "We should naturally be the consolidator of choice as we execute a lower-cost and better overall development strategy," a key company executive said in a post-earnings call. "Until someone else can prove they can do it better than us, we should be the consolidator of choice." Diamondback's shares fell 3.6% to $142.67 in morning trade after it posted second-quarter profit below analysts' estimates, hit by a 20% year-on-year drop in Brent crude prices amid weak global growth, OPEC+ supply increases and geopolitical tensions. The Midland, Texas-based company said it remains focused on reducing debt and share count in 2025, and may lean more into buybacks if market conditions weaken. The company said it was hard to be bullish on oil, adding that shale producers were increasingly running scenarios based on $50–$60 oil, versus $60–$80 in recent years. Diamondback dropped four rigs in the second quarter, reducing its activity to 13 rigs and lowered its 2025 capital budget around 3% at midpoint to $3.4–$3.6 billion.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store