MMFS big news just out.U.S. Navy task orders and expect to continue billing throughout 2003
and beyond. A successful bid by MMFS/IMPII and its affiliated
engineering partners could result in Navy contracts worth $100 - $300
MMFS (BSNS WIRE) Modern MFG Making Waves; Modern MFG Services' ``GB-Challenger''
Modern MFG Making Waves; Modern MFG Services' ``GB-Challenger'' Watercraft
Bound for Civilian and Military Contracts
Business Editors
LYNNWOOD, Wash.--(BUSINESS WIRE)--Feb. 10, 2003--Modern MFG
Services Inc.'s (OTCBB:MMFS) GB Challenger class boat and its unique,
cost-efficient manufacturing process are soon expected to result in
significant revenue-producing civilian and military contracts.
MMFS and its recently acquired subsidiary, Integrated Maritime
Platforms International Inc. (IMPII) are already billing against the
U.S. Navy task orders and expect to continue billing throughout 2003
and beyond. A successful bid by MMFS/IMPII and its affiliated
engineering partners could result in Navy contracts worth $100 - $300
million to produce several hundred sophisticated water craft for
installation on the Navy's planned DD (X) warships. Known as the
SPARTAN: Scout, this watercraft project is being developed within an
Advanced Concept Technical Demonstration (ACTD); this Research &
Development project is the cornerstone of the Navy's Future Combatant
USV.
NAVY URGENCY
Considering current world situations, it's not surprising that the
Chief of U. S. Naval Operations, who is heading the project, has
called for immediate deployment of the SPARTAN: SCOUT. In a recent
"Defense News" publication, Admiral Vern Clark called to fast track
the project for completion in late 2003, as opposed to the original
deadline of 2007. "I would like to see that deployed inside of a year
if we could," Clark stated, when he spoke during a conference
sponsored by the Naval Institute in Virginia Beach, Va. in October of
2002. SPARTAN: SCOUT program manager, Vic Ricci has been exploring
ways to implement this directive. "We take an existing capability and
add warfighting mission packages to it," Ricci said. "We hope to field
a fleet of unmanned vessels that can go off and do dangerous or
monotonous jobs on their own."
ELIMINATING CASUALTIES
A major goal set by the US Navy is to equip future warships with
unmanned vessels designed to scout ahead for dangerous situations,
thus avoiding military deaths and vessel damage. Modern MFG's
GB-Challenger platform is perfectly adaptable to this mission through
the use of interchangeable packages, including unmanned minesweepers;
intelligence, surveillance and reconnaissance; precision strike and
anti-surface warfare. The remote controlled boat would be used in
coastal waters to sweep for mines or conduct surveillance in dangerous
situations. Just as significantly, it is also applicable to an
extensive list of civilian uses. By being able to switch packages in
30 minutes or less, the GB-Challenger is able to provide
environmental, commercial, and military clients worldwide with a
flexible, multi-mission system, which performs exceptionally well in
open ocean, riverine, and near-shore environments.
ABOUT MODERN MFG SERVICES INC.
Modern MFG Services Inc., through its wholly owned subsidiary,
Integrated Maritime Platforms International, Inc., is the designer,
developer and manufacturer of a unique high-speed, long-range
multi-mission coastal patrol craft with interchangeable mission
modules.
For further information, please contact: Modern MFG Services, Inc.
1-425-315-1772 and ask for Terry Burke or visit our website at
modernmfg.com
Safe Harbor Statement:
Investors should carefully consider the preceding information, as
well as other information contained herein before making an investment
in the common stock of the Company. Information contained herein
contains "forward-looking statements" which can be identified by the
use of forward-looking terminology such as "believes," "may,"
"should," or "anticipates," or the negative thereof or given that the
future results covered by such forward-looking statements will be
achieved. The preceding matters constitute cautionary statements
identifying important factors with respect to such forward-looking
statements, including certain risks and uncertainties that could cause
actual results to vary materially from the future results covered in
such forward-looking statements. Other factors could also cause actual
results to vary materially from the future results covered in such
forward-looking statements.
--30--cla/se*
CONTACT: Modern MFG Services, Inc.
Terry Burke, 425/315-1772
KEYWORD: WASHINGTON
INDUSTRY KEYWORD: TRANSPORTATION MANUFACTURING GOVERNMENT
AEROSPACE/DEFENSE
SOURCE: Modern MFG Services, Inc.
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