Key facts
- L3Harris Technologies is preparing to spin off its missile unit, Axyv.
- Banks have been selected to manage the initial public offering for Axyv.
- DP World is reportedly interested in operating a US container port.
- This would be DP World's first US container port operation in 20 years.
- DP World is eyeing opportunities on the US East Coast.
L3Harris Technologies, a significant US defense contractor, is moving forward with plans to spin off its missile unit, Axyv. The company has selected several banks to lead the initial public offering (IPO) for Axyv. This strategic decision indicates a potential separation of the missile business from the broader L3Harris Technologies operations. The selection of financial institutions is a key step in preparing Axyv for public trading.
In a separate development, DP World, a prominent global logistics and port operator, is reportedly considering a re-entry into the US container port market. This potential venture would mark the company's first significant operation in the US port sector in approximately 20 years. DP World is specifically looking at opportunities along the East Coast of the United States for this expansion. The company's previous involvement in US ports concluded two decades ago, making this a notable potential return.