Textron Inc (TXT) announced that Bell Textron Inc., a Textron company, has been awarded the development contract for the U.S. Army's Future Long-Range Assault Aircraft program. The award is based on Bell's V-280 Valor tiltrotor that was developed and tested as part of the Joint Multi-Role Technology Demonstrator program that began in 2013. The V-280 progressed through design, manufacturing, and more than three years of rigorous flight testing that provided extensive data validating the technical and operational advantages of the aircraft for the long-range assault mission.
Driven Brands Holdings Inc. (DRVN) reported that it will be migrating its glass servicing offering to the Auto Glass Now brand beginning in January 2023. Since entering the U.S. glass business less than a year ago, Driven Brands has grown to approximately 175 locations and over 700 mobile units through a series of acquisitions and a growing pipeline of greenfield openings and ten acquisitions, including the acquisition of Discount Auto Glass that closed today.
In a joint announcement, TuSimple (TSP) and Navistar announced an end to their co-development under the 2020 Joint Development Agreement. The decision to end the development agreement does not preclude the companies from working together in the future.
Following its decision earlier this year to exit the Russian market, Owens Corning (OC) announced that it has completed the sale of its operations in the country to Umatex, a Russia-based producer of carbon fiber and fiber-based items. The transaction includes two manufacturing operations: a Composites manufacturing plant in Gous-Khroustalny and an Insulation manufacturing plant in Tver/Izoplit. For the nine months ended September 30, 2022, net sales in Russia were approximately $85 million.
KKR (KKR) announced that it has agreed to acquire Clinisupplies, a market leader in continence care products in the UK, from Healthium. Clinisupplies' management team will continue to hold a minority position. Financial details of the transaction were not disclosed.
