The U.S. gross domestic product rose 3 percent in the second quarter of 2017, as consumer spending gradually ramped up and business owners reported renewed confidence in the face of tax reform and deregulation. Though no public record exists of every product sold annually in the United States, some of the biggest—be it fighter jets or tankers—simply can’t be ignored. Here, below, a random sampling of the biggest transactions of the year.
Seller: Lockheed Martin
Buyer: US and allies
Deal: F-35 jets
Value: $40 Billion
In July, Lockheed Martin sold F-35 fighter jets valued at an estimated $40 billion to the United States and 10 other allied nations, according to Reuters. The fighter jets will be delivered in three installments between 2018 and 2020. The order vastly increased Lockheed’s projected annual production and revenue for the next several years. Nations involved in the deal opted to purchase in bulk to acquire the jets at a lower price, officials told the wire service.
Seller: Hyundai Heavy Industries
Deal: 62 tankers
Value: $3.8 Billion
The auto manufacturer Hyundai announced in January that it had closed a deal valued at more than $3.8 billion for 62 tankers, to be produced for corporations across the globe. The sale represents a 500 percent increase in volume from 2016, when it received orders for 20 ships valued at $1.3 billion. To date, Hyundai has secured contracts for more than 50 percent of the world’s largest tankers.
Buyer: Aseman Airlines
Deal: 30 Boeing 737s
Value: $3 Billion
Boeing, the world’s largest aerospace company, closed a $3 billion deal with Iran-based Aseman Airlines for the sale of 30 737s, according to Bloomberg News. The deal is the second Boeing has closed with an Iranian airline and is the first since the 1970s. The first planes will be delivered in 2020, with production continuing for several years afterward, according to news reports. A Boeing spokesman said a transaction of this size will likely create and sustain more that 18,000 stateside jobs.
Deal: Cloud Services
Value: $3 Billion
Snap, the parent company of Snapchat, reached a deal with Amazon Web Services for $1 billion worth of cloud services over the next five years. Snap officials also announced the company would spend approximately $2 billion on cloud services from Google. The two deals will allow the photo-messaging application to have improved infrastructure on its platform and support greater capabilities and services for users in the future. “In the future, we may invest in building our own infrastructure to better serve our customers,” officials said in a press release.
Seller: China Telecom
Deal: Data services & center
Value: $2 Billion
China Telecom, a Chinese data and telecommunications company owned and operated by the provincial government of Guizhou, inked a deal with Apple and the Chinese government to build its first data center, according to The Washington Post. The center will house data (including iCloud data), for customers. With Apple, China Telecom will manage the center, which is expected to abide by regulations put forth by the Chinese government. Apple will retain control of its encryption technology.
Buyer: United Arab Emirates
Deal: PAC-3 missiles
Value: $430 Million
Defense system manufacturer Raytheon closed a $430 million deal with the United Arab Emirates in May for 100 Patriot Guidance Enhanced Missiles, according to reports. In interviews, Raytheon officials have described the so-called PAC-3 missiles as “the world’s most effective air and missile defense interceptor.”
Deal: Corning glass iPhone Screens
Value: $200 Million
Apple announced in May that it would award a $200 million funding deal to Corning, the glass manufacturer, in order to support research of innovative glass production methods for future iPhone models. Apple will continue to use Corning’s glass, as it has with previous iPhone models, but the new glass will support enhanced touch sensors, improved cameras and reduce screen damage. “We’re extremely proud of our collaboration over the years, and we are investing further with Corning, which has such a rich legacy of innovative manufacturing practices,” said Apple CEO Tim Cook in an announcement shortly after the deal was made.
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