latest news releases from the newsroom
TOUSA Enters Into Transeastern JV Settlement Agreements and Executes Financing Commitment Letter
HOLLYWOOD, Fla., June 29, 2007 (PRIME NEWSWIRE) -- TOUSA, Inc. (NYSE:TOA) announced today that it has entered into a settlement agreement with the senior and junior mezzanine lenders to the Transeastern JV and has now reached a global consensual resolution with all participants in the Transeastern JV including: the senior lenders, the mezzanine lenders, the JV partner and land bankers. The Company expects to close the global settlement on or about July 31, 2007, subject to closing conditions, including the funding under the Citibank facility described below. The Company can not provide any assurances that these closing conditions will occur.
Northrop Grumman Corp.
Northrop Grumman and L-3 Partner to Offer an Integrated, Next-Generation Communications Solution for the BAMS Program
NEW YORK, June 29, 2007 (PRIME NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) has selected L-3 Communications (NYSE:LLL) Communication Systems West (CS-West) as a key member of the Communications Integrated Product Team (IPT) for the Northrop Grumman RQ-4N Broad Area Maritime Surveillance (BAMS) offer to the U.S. Navy. The combined BAMS offering is based upon a system employing a Modular Open Systems Architecture, ensuring interoperable connectivity with Maritime Patrol and Reconnaissance Force assets and shipboard elements of the Fleet and other U.S. Department of Defense components.