Micron Techology is preparing for revenue losses caused by China’s recent sales restrictions on its products, saying in a recent Securities and Exchange Commission filing that Beijing “may prevent us from competing effectively with Chinese companies.” The U.S. semiconductor company said the restrictions are leading to “significant headwind” that “is impacting our outlook and slowing our recovery.”
Treasury Secretary Janet Yellen said she is “concerned” about China’s new export controls on critical minerals used to produce semiconductors (see 2307060053), saying the U.S. is still assessing the impact but that they “remind us of the importance of building resilient and diversified supply chains.” Speaking during a July 7 roundtable with American businesses in China, Yellen said the administration is working to make sure U.S. companies are competing with China on a “level playing field.”
The Committee on Foreign Investment in the U.S. recently approved a merger between U.S.-based real estate business INDUS Realty Trust and global investment firms Centerbridge Partners and GIC Real Estate, INDUS said in a recent Securities and Exchange Commission filing. The companies said they received CFIUS approval June 22, and “all required regulatory approvals to complete the Merger have now been received.”
The Bureau of Industry and Security is working with the Department of Health and Human Services on a “comprehensive assessment” of the U.S. influenza vaccine industrial base, the agency announced this week. The agencies plan to launch a survey to gather data on the industry’s “supply chain network” to better understand and respond to “supply chain deficiencies and disruptions related to production capabilities, transportation and logistics, research and development, foreign sourcing and dependencies, cyber security incidents, critical materials, and other challenges.” The survey also will help the agencies produce recommendations to “help improve the resiliency of the influenza vaccine supply chain in the face of future public health emergencies.”
The State Department on June 30 approved a potential $105 million military sale to Romania of “equipment and services to modernize thirty-two (32) F-16 Mid-Life Update Block 10/15 aircraft,” which will be procured through a third-party transfer from Norway, the Defense Security Cooperation Agency said June 30. The principal contractor will be Lockheed Martin.
The State Department approved two potential military sales to Taiwan and one to the Czech Republic, the Defense Security Cooperation Agency said June 29. A $332.2 million sale to Taiwan includes various types of 30 mm ammunition and related equipment. Alliant Techsystems Operations and General Dynamics Ordnance and Tactical Systems are the principal contractors. A $108 million sale to Taiwan includes a “Blanket Order Cooperative Logistics Supply Support Arrangement (CLSSA) Foreign Military Sales Order II (FMSO II)” and related equipment. The Defense Logistics Agency has not yet chosen principal contractors. A $5.62 billion sale to the Czech Republic includes F-35 aircraft, munitions and related equipment, and the principal contractors will be Lockheed Martin Aeronautics, Raytheon Missiles and Defense, and Boeing.
The State Department approved two potential military sales, to Poland and Norway, the Defense Security Cooperation Agency said June 28. The $15 billion sale to Poland includes an “Integrated Air and Missile Defense (IAMD) Battle Command System (IBCS)” and related equipment, and the principal contractors will be Raytheon, Lockheed Martin Missiles and Fire Control, and “another original equipment manufacturer to be selected to develop and produce generator sets.” The $293 million sale to Norway includes “Small Diameter Bomb II” and related equipment, with Raytheon Missile Systems as the principal contractor.
Netherlands-based Viterra and U.S.-based Bunge Limited, both agribusiness companies, plan to file a notice with the Committee on Foreign Investment in the U.S. on their proposed combination, Squire Patton said in a June 27 client alert. The acquisition of Bunge by Viterra and its affiliates in Sweden and Canada is valued at $8.2 billion.
The State Department approved a potential $5.9 billion sale of “P-8A Aircraft” and related equipment to Canada, the Defense Security Cooperation Agency said June 27. The prime contractor will be Boeing, but a “significant number of other companies” under contract with the Navy will provide “components, systems, and engineering services during the execution of this effort.”
The State Department June 27 authorized another drawdown of $500 million worth of U.S. arms and defense equipment to Ukraine. The package includes Bradley and Stryker vehicles, munitions for air defense systems, artillery, launch rocket systems, anti-tank weapons, anti-radiation missiles, precision aerial munitions and other "essential resources" to "support Ukraine’s ongoing counteroffensive operations."