Colt Defense is expected to re-emerge from bankruptcy as Sciens Capital Management is expected to purchase almost all of its assets.
Cold filed for voluntary ‘Chapter 11 bankruptcy’ in US Bankruptcy Court for the District of Delaware on 14 June that allowed for the accelerated sale of its business operations in the US and Canada.
The company’s military product line includes small arms like the nearly ubiquitous US M16 series rifle/M4 series carbine as well as Canada’s C7 rifle and C8 carbine. But its problems were long in the making.
One of Colt Defense’s significant military market challenges
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The US Marines Corps’ Force Design 2030 is about restructure, changes to operational concepts, a refresh of equipment and new categories of equipment. The review indicates a high level of success.
The new vehicle will be based on the CV90 Mk IV chassis and turret, and will be armed with a Rheinmetall 120mm L44A1 low recoil smoothbore gun.
Speaking in the UK Parliament, Defence Minister Luke Pollard said possible changes in the country’s steelmaking industry will have little impact on defence projects; while much of the steel in British vehicles and ships is imported.
President of Ukraine Volodymyr Zelenskyy has announced the arrival of more Patriot air defence systems in his country. The development follows the Ukrainian Foreign Minister Andriy Sybiha calling for 10 more systems last month and Zelenskyy reiterating the need for more.
The country’s air defence batteries will be equipped with new command posts, wheeled communication nodes and radios. The system itself is in service with more than 14 countries with 13 systems in Ukraine.
Ukraine’s quest to replace soldiers with robots is hitting technical snags. Shephard spoke with industry leaders about difficulties in the field and what solutions are in the pipeline.
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