Tag Archives: ParamountGroup
Joe Ford joins Draken International as Chief Executive Officer
Las Vegas, NV – The Board of Directors of Draken International, LLC has elected Joseph “Joe”Ford as Chief Executive Officer, effective immediately. Ford will also serve as a member of the company’s Board of Directors.
Ford previously served as President, DynAviation at DynCorp International. At DynAviation, Ford was responsible for all aspects of the segment’s profit and loss performance with functions including operations, supply chain management, finance, quality assurance, human resources, contracts and internal and external business development.
Ford will succeed Jared Isaacman who has served as Draken’s Founder and Chief Executive Officer since 2011. Isaacman will become the non-executive Chairman of the Board of Directors and will assist Ford through the transition.
“During a period of tremendous growth for our company and the commercial adversary air industry, there is no better person to lead Draken International,” stated Isaacman. “After serving
his country with distinction for 25 years and growing defense companies that support the U.S. military, Joe has the leadership, strategic vision and record of execution to fly Draken to new heights. His insight for how to apply modernization to our comprehensive fleet of fighters will prove beneficial and is exactly what Draken needs as the company enters its next
chapter of expanded growth.”
“I am beyond thrilled to join the Draken family,” stated Ford. “I understand the need to provide the U.S. military aviation community with the readiness it needs while making every taxpayer dollar go further. Draken is the best in the business and I am honored to have Jared and the Board’s support as we remain focused on supporting our nation’s military aviators every day.”
Before his career in the private sector, Ford had a distinguished military career, retiring from the U.S. Air Force as a Colonel in January of 2007 as the commander of the 401st Air Expeditionary Wing at Aviano Air Base, Italy.
Other roles during his military career include commander of the
18th Operations Group at Kadena Air Base, Japan and commander of the 35th Fighter Squadron at Kunsan Air Base, South Korea. Mr. Ford is a combat veteran with four fighter deployments to
the Middle East. His aviation career includes over 4,000 hours in aircraft including the F-4C/D,A-7D, F- 117, F-16A/B/C/D, F-15C/D, HH-60, E-3 and KC-135R.
“Draken is the kind of mission driven company with which we like to partner,” said Todd Hirsch, Senior Managing Director at Blackstone Tactical Opportunities and a member of the company’s board. “A decade ago, Draken was an idea – that commercial adversary air support
can improve readiness and reduce sustainment and training costs for the U.S. Armed Forces.
Today, Draken is the industry’s leading provider of military aviation readiness training,completing over 20,000 flight hours with a fleet of more than 100 mission capable aircraft.
Under Joe’s leadership, it will continue to set the standard in airborne adversary support, flight training, threat simulation, electronic warfare support, research, testing, as well as other missions
uniquely suited to their fleet of aircraft.” Hirsch continued: “On behalf of the rest of the board and all our employees, we thank Jared for
creating this industry leading firm and guiding it so well. We are grateful to continue to have him as a partner.”
The board also elected Bill “Sweet” Tart as Chief Operating Officer. Sweet joins Draken from DynAviation where he was Senior Vice President, Business Development. Prior to his private sector career, Sweet served in the United States Air Force for 25 years, retiring in 2014 as the Director of the Remotely Piloted Aircraft Division at the Pentagon. He previously served as the commander of the 432nd Operations/Expeditionary Operations Group at Creech Air Force Base, Nevada and the senior military assistant to the Assistant Secretary of Defense for Legislative Affairs. Sweet is a Risner Trophy winner for outstanding performance at USAF Weapons
School.
Draken International is the world’s largest operator of ex-military aircraft. With over 100 tactical fighter aircraft incorporating modern 4th generation capabilities, the company is the partner of choice to support the growing global demand for commercial air services. Draken
employs world class, military trained fighter pilots including USAF Weapons School Instructors,Fighter Weapons School Graduates, TOP GUN Instructors, Air Liaison Officers, and FAC-A Instructors. In 2019, funds affiliated with Blackstone Tactical Opportunities completed a strategic investment into Draken International to facilitate the next phase of modernization and growth.
Future of AHRLAC secured as Business Rescue nears completion
This is in line with the business rescue plans adopted by affected parties in October 2019, pursuant to which Paramount Aerospace Industries acquired the businesses of ADC and its subsidiaries in terms of the relevant business rescue plans, which included the sale of the businesses and assets of ADC and its subsidiaries, as well as the assumption of certain liabilities of these entities in accordance with the respective business rescue plan.
As the Business Rescue Plans have now been adopted, the newly formed Paramount Aerospace Industries will bring new management with a wealth of aerospace engineering and aviation industry experience to the programme. The state-of-the-art factory at Wonderboom Airport has been operational for several months under Paramount’s stewardship, with manufacturing being ramped up to ensure the timeous delivery of aircraft to customers around the world. Approximately 85% of the original staff of ADC have been retained.
Paramount has provided and facilitated significant capital as part of these business rescue processes in the form of both post commencement funding, working capital, capital investment and the assumption of liabilities and loan repayments, in accordance with the provisions of the respective plans. Further capital will be injected into the business over the coming months to support both marketing initiatives and manufacturing.
Alison Crooks, CEO of Paramount Industrial Holdings stated: “This is great news for the future of the aircraft, for Paramount, for the South African Aerospace industry, as well as for the global aircraft market. Paramount’s decision, more than a decade ago, to fund the development of the AHRLAC aircraft was a matter of national pride and came at a time when the local aerospace industry was searching for a project that would invigorate the sector. Our passion for the country and for innovation is reflected in the direct investment of almost R1 Billion into the project. We are grateful that this strategic programme is now secured and that we can focus on a brighter future. We are delighted to have retained most of the employees who worked on the AHRLAC programme for years and to have created employment for many capable people through our efforts.”
The aircraft addresses a key global security requirement by performing missions that previously required several different aircraft. It integrates designs from helicopters, surveillance platforms and reconnaissance aircraft, with the ability to carry multiple systems, such as surveillance radar and electronic systems.
Crooks added: “We are very excited about our new management team, made up of leading experts in aircraft engineering, industrialisation and production, who are focusing on the manufacturing of the aircraft and its delivery to customers. We have been encouraged by the global interest in the aircraft and we look forward to making further new customer announcements in the near future. We would like to thank all of our employees who have stood by us and have demonstrated that the resilience, innovative spirit and can-do mentality of South Africans is as strong as ever.”
The aircraft is a smart, innovative ‘command centre in the sky’ that integrates some of the world’s most advanced Multi-Function-Displays, Electro Optical Systems, Electronic Intelligence gathering and compact sensors available in the world today. AHRLAC is purpose-built to be infinitely reconfigurable. This allows the application of the aircraft in multiple roles and missions in response to diverse customer requirements around the world.
The AHRLAC aircraft will be manufactured in South Africa at the state-of-the-art factory on the Paramount Aerospace Campus in Wonderboom, north of Pretoria. This facility is a vertically integrated operation that uses latest-generation machines to fabricate all airframe components and sub-systems directly from a digital model. All fabricated components are brought together with the engine and avioinics on the final assembly line which produces an aircraft ready for flight.
In keeping with Paramount Group’s well-established portable production model, the aircraft could, depending on customer requirements, also be exported in kit format for final assembly in customer countries.
Paramount restated its committed to continue its investment in South Africa, in order to build a strong, sustainable aircraft and aerospace systems capability in the country, and this transaction supports this objective.
Leidos, Paramount USA, and Vertex Aerospace team up to pursue U.S. Special Operations Command Armed Overwatch prototype program
(Reston, Va.) May 4, 2020 – Leidos (NYSE:LDOS), a FORTUNE® 500 science and technology leader, today announced a teaming agreement with Paramount Group USA and Vertex Aerospace to pursue a new contract to deliver the Bronco II, a new purpose-built, multi-mission aircraft. The aircraft will support the U.S. Special Operations Command’s Armed Overwatch program.
This strategic relationship, with Leidos as the prime contractor and Paramount and Vertex as primary teammates, will combine decades of experience integrating, manufacturing, and delivering cutting-edge airborne solutions to the warfighter.
The Bronco II is a rugged, affordable, and sustainable multi-mission aircraft that will be manufactured in Crestview, Fla. The Leidos offering is built to meet the specific needs of U.S. Special Operations Command.
“Leidos has a long history as a premier provider of airborne solutions,” said Gerry Fasano, Leidos Defense Group president. “The Bronco II demonstrates our commitment to providing the best-of-breed in technology, as well as our agility in meeting the needs of our country’s national security missions. This offering will leverage each company’s expertise to deliver cost-effective innovations for the warfighter.”
“Our collaboration with Vertex and Leidos will present best of capabilities for what will undoubtedly be a critical program to enable U.S Air Force Special Operations Command to deal effectively with the challenges and rigors of modern day asymmetrical warfare,” said Steve Griessel, CEO of Paramount Group USA. “The Bronco II was designed specifically for asymmetrical warfare and will operate at a fraction of the procurement and lifecycle costs of an aircraft with similar mission applications and capabilities.”
“We are proud to team with Leidos and Paramount, as we share a commitment to deliver affordable state-of-the-art capabilities to combat the challenges posed by modern, multi-domain operations,” said Ed Boyington, Vertex Aerospace CEO and President. “With a long track record of delivering excellence to our customers, we look forward to producing and supporting the purpose-built Bronco II aircraft and weapons system as a transformational tool for our warfighters.”
Visit www.bronco-usa.com
About Paramount Group USA
Headquartered in Dallas-Ft. Worth, Paramount Group US Inc. is the U.S. entity of the Paramount Group, the global aerospace and technology company, providing fully integrated and turn-key air, maritime, and land solutions. Paramount Group USA is also the parent company of Paramount Aerospace Systems USA, its wholly-owned US subsidiary. Since its inception in 1994, Paramount Group has built strong relationships with governments in more than 30 countries around the world. It is a leading innovator in the design and development of state-of-the-art technologies that it manufactures in locations globally. Please visit paramountgroup.com/usa or follow us on Twitter.
About Vertex
Vertex Aerospace offers a global capability and complete solution for aftermarket aerospace services for government and commercial customers. The Company’s international presence and vast range of services has distinguished itself from competitors for over 45 years. The Mississippi-based company operates in over 100 locations worldwide and is proud to have a 50 percent veteran employee rate. Information about Vertex can be found at vtxaero.com.
About Leidos
Leidos is a Fortune 500® information technology, engineering, and science solutions and services leader working to solve the world’s toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company’s 36,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020. For more information, visit leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company’s Annual Report on Form 10-K for the period ended January 3, 2020, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
ICAD Polokwane Airshow 2019
International Civil Aviation Day was celebrated with an airshow and aviation career expedition at Polokwane’s Gateway International Airport on the 7th December 2019.
Both Friday and Saturday saw talks from both aviation community members from the civil aviation authority, South African Airforce, Flight schools and much more.
Capital sounds provided commentary from both Brian Emmenis and Elvis Manene on the afternoons aircraft lineup. Rikus Erasmus, Lieutenant Colonel Francois “Hosepipe” Hanekom were in charge of being airshow safety directors, while Cliff Lotter was ramp director.
The show opened with Major Rehan “Kaine” Venter displaying the 85 Combat Flying School Hawk Mk120 ‘vlaggie’ Flag hawk 271,as he has become the squadrons new display pilot for next years airshow season.
The Magni Gyro Copter was up next with Andre van Zyl showing off the aircrafts great abilities . Another helicopter was displayed by the South African Police Airwings H125 Squirrel, with members of the task force reacting a tasking scene.
Little Annie An2 flown by Jon Marc Hill dropped Skydivers from adventure skydive and gave a flat display, showing the tight handling capabilities of the world’s biggest bi plane.
Unfortunately due to the bad wet weather on the weekend alot of aircraft couldnt get to Polokwane.Well done for the great effort the CAA and other stakeholders put into the event!
Paramount Group Static Display
