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IAI, Hyundai to supply Philippines with naval radar systems

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Israel Aerospace Industries (IAI) and Hyundai Heavy Industries have signed an agreement to supply the Philippine Navy with IAI’s ALPHA 3D Radar Systems. The systems will be integrated on the Philippine Navy’s new Corvette ships.

IAI ELTA Division’s ALPHA 3D Radar System is a lightweight, multi-function 3D AESA radar, which shares technology with its larger system, the MF-STAR radar. With its modular construction and fully digital software-driven architecture, the ALPHA delivers low LCC together with the cost-effective ability to implement future upgrades, mainly through software updates, ensuring the ability to cope with new threats over the system’s extended service life. IAI’s family of naval radar technology is operational and combat-proven in navies around the world.




The ALPHA 3D Radar System will be fully integrated with the Combat Management System (CMS) supplied by Hanwha Systems, and will provide an array of advanced multi-mission capabilities for the Philippine Navy.

IAI VP and ELTA CEO Yoav Tourgeman said, “This agreement is a testament to IAI’s close partnership and cooperation with Hyundai and the defense ecosystem in Asia. Incorporating IAI’s pioneering AESA technology on the Philippine Navy’s new ships highlights the trust that the Philippine Navy and Hyundai Heavy Industries have placed in IAI. We are honored to be an integral part of this important program and supply our operational, combat-proven systems to our friends in Asia.”

IAI develops advanced naval technologies. IAI’s radar technology and air and missile defense systems are operational in navies worldwide, including in the Israeli Navy, which integrated the MF-STAR radar and the Barak MX Air and Missile Defense System on its new Sa’ar Corvettes in 2021. IAI’s tailor-made naval solutions are based on decades of technological, combat-proven expertise.

Published by Globes, Israel business news – en.globes.co.il – on April 26, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


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Ricardo Appointed to Support Transformation of the Greater Toronto Rail Network

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Experts will perform independent safety assessments during the design stage of the Go Expansion railway upgrade

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LONDON — Ricardo Certification has been appointed as the Independent Safety Assessor (ISA) for the forthcoming transformation of rail transit across the Greater Toronto and Hamilton Area (GTHA), Ontario, Canada.

As the ISA, Ricardo will provide independent scrutiny of the programme’s safety documentation during its design phase, ensuring it is in full compliance with relevant standards. Performing these assessments at this early stage will reduce the risk of delays or costly rectification works during the construction, installation and testing phases. The role was awarded by Metrolinx, a crown agency of the government of Ontario that is responsible for GO Transit, the regional network of rail and bus services in GTHA.

Richard Gibney, Certification Director, Ricardo Certification said: “We are delighted to be awarded this important safety role by Metrolinx. This is a complex, multi-faceted programme of works, with new rolling stock, a new traction system and extensive infrastructure upgrades which must be designed to the highest safety standards. Using experience of similar projects around the world, we will provide independent assessment to help ensure safety remains at the forefront throughout the key design stages.”

GO Transit’s rail network consists of seven lines operating out of Toronto’s Union Station, served by an aging fleet powered by diesel locomotives. Infrastructure limitations have imposed a variable timetable across the network, with traffic oriented towards peak rush hour direction. However, rail passenger numbers on GO Transit have steadily risen in recent years: in 2020 the network was carrying over 57 million passengers a year.

A rail upgrade programme, ‘GO Expansion’, will deliver a faster and more frequent service using modern electric-powered rolling stock. The programme also includes new track, signalling, and over 650km of electrification. The outcome will be a significant increase in services from 3500 (2019) trains per week to over 10,000, with services operating at least every 15 minutes. The new fleet is forecast to deliver a 50% reduction in operating costs per km.

As the appointed ISA, Ricardo teams will support the programme throughout the design phase to assess whether Metrolinx and ONxpress Transportation Partners have developed relevant safety documentation – including the system definition, system safety plan and safety case – in full compliance with standards such as the Canadian Method for Risk Evaluation and Assessment, and EN50126, the international standard for the specification and demonstration of Reliability, Availability, Maintainability and Safety (RAMS) for railway applications.

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As the first organisation to be accredited to ISO/IEC 17020:2012 under Canada’s new Independent Safety Assessor for Railway Systems Accreditation Program, Ricardo Certification has demonstrated its technical capabilities to the Standards Council of Canada (SCC), the national accreditation organisation.

NOTES TO EDITORS:

Ricardo plc is a world-class strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and employing close to 3,000 employees in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services together with safe and smart mobility. Our global team of consultants, environmental specialists, engineers and scientists support our customers to solve the most complex and dynamic challenges to help achieve a safe and sustainable world. Visit www.ricardo.com.

Ricardo Certification comprises a set of companies within the Ricardo Group that perform independent assurance and testing services in rail and other sectors. Companies within Ricardo Certification are accredited against inspection and certification standards enabling them to offer accredited services in line with national and international rules and approval processes.

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Andrew Foulkes
Marketing Communications Manager
Ricardo Rail
Email: andrew.foulkes@ricardo.com

Kathryn Bellamy
Group Senior Communications Manager
Ricardo plc
Email: kathryn.bellamy@ricardo.com
Telephone: +44(0)7921 941824

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Price hikes help India Inc fight margin pressure; operating profit up 20%, net profit by 34%

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Despite the inflation in inputs, India Inc seems to have managed to protect its margins reasonably well by passing on the costs to consumers. Not all companies have been able to take price hikes to offset the entire increase in costs, but aggregate numbers for Q4FY22 show they have covered some ground.

For a universe of 927 companies (excluding banks and financials), operating profit margins contracted by only 50 basis points year-on-year to 16.37%, in the three months to March. Consequently, the operating profit went up by a good 20% y-o-y and the net profits by a handsome 34%.

Management commentary suggests companies plan to either raise prices further or offer smaller volumes for the same price to protect margins. By a rough reckoning, prices have been raised by 5-15% for consumer staples, 10-12% for durables, around 10% for automobiles, 5-15% for residential properties and around 5-8% at fast food eateries. By passing on the cost increases, companies have managed to grow their top lines despite, in many cases, selling smaller volumes. For the sample of 927 firms, net sales in Q4FY22 rose 24.2% y-o-y.

Hindustan Unilever, for instance, has upped prices by about 10%, enabling it to report a revenue growth of 11% y-o-y in Q4FY22 despite volumes staying flat. Despite a 9% y-o-y drop in volumes, Eicher Motors posted a revenue growth of 9% y-o-y, thanks to a 21% y-o-y increase in the average selling prices (ASPs). At Bajaj Auto, Ebitda margins were down 80 bps y-o-y despite price hikes. Tata Steel’s margins in Q4FY22 were softer but the management is hoping better realisations will offset the cost inflation in the current quarter.

Gross margins at Asian Paints came off by 450 bps y-o-y as the company was able to only partially offset the high raw material costs with price increases of 22% y-o-y. Again, the profit performance at JSW Energy was a modest one as the higher realisations of 4% y-o-y were inadequate to offset the higher cost of generation, which rose 23% y-o-y.

While profitability may have been under some pressure, the good news is that businesses that were hit by the pandemic are bouncing back with the economy opening up. AB Fashion and Retail, for instance, reported better-than expected Q4FY22 revenue growth of 25% y-o-y as the distributor channel recovered. Avenue Supermarts posted Q4FY22 revenue growth of 18% y-o-y, driven by a revival in same store sales growth and the contribution from 21 new stores added during the quarter. Sales of big-ticket items, however, were somewhat subdued. At Titan, for instance, jewellery sales were flat, impacted by the volatility in gold prices.

The strong show by commodity players and some turnaround performances do skew the numbers somewhat. The profit growth slows to 21.6% y-o-y from 34% if Reliance Industries, Tata Steel, Tata Motors and Adani Power are excluded; the four together account for 20.2% of the sample’s revenues. Tata Motors narrowed its losses to Rs 1,033 crore in Q4FY22 from Rs 7,605 crore in Q4FY21, while Tata Steel posted a strong 47% y-o-y growth in net profits. Adani Power posted a net profit of Rs 4,645.47 crore against Rs 13.13 crore reported a year ago.

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U.S. Stocks Poised to Open Higher on Monday

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