Levitt also serves on the board of Bloomberg LP, the parent company of Bloomberg News.
Connections count
At the time of its IPO, United Defense said Carlyle's connections helped its business.
"Our Board of Directors consists of members who have served in senior positions within the US Government, such as Secretary of Defense, Chairman of the Joint Chiefs of Staff and Commander-in-Chief of the United States Central Command," it said in its October 2001 prospectus. The management and board's "unique insights into the US Department of Defense and allied militaries is one of our key assets."
The company also said it planned to buy competitors.
"We intend to continue participating in the current consolidation of the defense industry by utilizing the business relationships of our senior management team, our Board of Directors, and the Carlyle Group to acquire companies with complementary products and technologies, as exemplified by our September 2000 acquisition of Bofors Defence," the company said.
Today it said Raytheon Co awarded a US$98 million contract to its Bofors Weapon Systems AB subsidiary for helping develop and demonstrate the Excalibur artillery projectile.
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