The Commonwealth of Australia has decided to acquire an ownership interest in CEA Technologies Pty Limited, which is welcomed by the Board and management of the company. This agreement supports the continuation of the company’s dedicated focus on sovereign defence capability and gives shareholders certainty and clarity about the future strategic direction of the company, the company said in an April 27 statement.
CEA’s Chairman, Peter Robson, AO welcomes the Commonwealth as a significant shareholder in the company and thanks the departing long-term minority shareholders for their unwavering support over the last four decades. In particular the invaluable contribution of co- founder, David Gaul who has served the company in executive positions and as a valued Board member.
Robson and the company executive also want to thank the departing longstanding shareholder, Northrop Grumman, for the impartial support provided through Board representation since 2006.
The enduring support provided by all shareholders and departing Board members, leave the company in a very good financial and operational state, well positioned for future strategic growth, able to meet technology challenges and to deliver advanced capability systems to the Australian Defence Force and its allies.
The CEA Board, management and staff are supportive of the ownership changes and look forward to this new era of consolidated Australian shareholding and continuation of ‘business as usual’ for the company.
“Today’s landmark agreement secures the longevity of this Australian company and guarantees supply of critical radar systems for the ADF, now and into the future.
The approach the Commonwealth has taken, in partnership with existing shareholders, will ensure CEA is on the path to grow and develop over the long term, in order to meet the ongoing needs of Australia and its international partners,” said Deputy Prime Minister, the Hon Richard Marles MP.
“The Commonwealth’s staged investment in CEA, a longstanding and valued partner, strikes an appropriate balance between maintaining the capabilities and operational independence of CEA as a standalone company, and keeping Australians safe while achieving value for the taxpayer,” commented Minister for Finance, Senator the Hon Katy Gallagher.
“CEA is an Australian manufacturing powerhouse, with world leading know how and decades of industry experience that has led to the design and development of cutting edge radar systems.
CEA provides critical capabilities for a number of our major naval surface combatants, amongst other projects, and plays a vital role in our national security.
The phased array radar capabilities within CEA are a critical sovereign capability and today’s agreement protects the incredible capability of the CEA workforce and their unmatched ability in the field of radar technologies,” said Minister for Defence Industry, the Hon Pat Conroy MP on the acquisition.
Company Background: CEA is an Australian company with 600-staff, headquartered in Canberra and with offices around the country and a wholly-owned US subsidiary. The company has been successfully designing and manufacturing advanced technology radar and communications solutions since 1983.
CEA was recently awarded a $277 million contract to provide advanced capabilities for Australia’s electronic warfare ranges as part of Project Air 5349 Phase 6 – Advanced Growler. In AIR6500 Phase 1, CEA will design and deliver four active phased array sensors for Tranche 1 as part of the new Joint Air Battle Management System.
CEA sensors will be delivered as part the LAND 19 Phase 7B, the Army-operated component of the Joint Integrated Air and Missile Defence (JIAMD) capability. CEA’s CEAFAR phased array systems are operational on the ANZAC Frigates, delivered under the Anti-Ship Missile Defence Upgrade and Advanced Air Search Radar programs.
CEA’s phased array systems will also be supplied for the new Hunter Class Frigates. –cea/adj/mhi (Pix: CEA Technologies)