Huntsville company Dynetics sold for $1.6 billion
Huntsville technology company Dynetics has been sold to science and technology company Leidos for $1.6 billion, the companies announced today. The deal that will be finalized early in 2020 created “a lot of millionaires” among the Alabama company’s 2,300 employees, Dynetics CEO Dave King said. “This is a huge deal,” King said. “These don’t come about very often.” – AL.com
Lockheed awards $81.5M contract for hypersonic missile motor
Lockheed Martin has selected Aerojet Rocketdyne to provide a solid-fuel rocket motor for a hypersonic missile meant for the U.S. Air Force, according to a Tuesday news release. The $81.5 million contract award is to support Lockheed’s efforts in creating an air-launched, standoff missile that can reach Mach 5. – Defense News
Southeastern shoplifting ring busted by Alabama and Tennessee authorities
Authorities in Alabama and Tennessee have busted a shoplifting ring that utilized fraudulent UPC bar codes to toys throughout the Southeast. James Adkins, 36, of Murfresboro and Daniel Germany, 44, were arrested for theft of property last week. The two are accused of replacing bar codes on toys with fraudulent ones, making the toys worth pennies on the dollar, at a Walmart in Madison, Alabama. They completed the purchases through self-checkout lanes. – ABC3340
Council extends Birmingham self-storage ban an additional 90 days
The Birmingham City Council on Tuesday approved a 90-day extension of a measure preventing new self-storage businesses from going up in Birmingham. The council first approved the self-storage ban on July 2. That ban was to be effective for six months. The ordinance will prevent any new business licenses for self-storage in any areas zoned M-2 or I-2 (heavy industrial) for an additional 90 days. – AL.com
Fiat Chrysler, Peugeot sign deal to create world’s third largest automaker
Fiat Chrysler and Peugeot owner PSA Group have signed a binding merger agreement, solidifying a nearly $50 billion deal that will create the world’s third largest automaker. The companies said in a joint statement Wednesday that they expect the 50-50 merger to be completed within 12 to 15 months, pending approval from shareholders and regulators. – CNN
