Some very good news. I guess the connection was right, at least in terms of anticipated revenue.
Offshore Systems International announces approval by the US Coast Guard's Command
and Control Engineering Center of Offshore's ECPINS(R) software
VANCOUVER, Dec. 22 /CNW/ - Offshore Systems International Ltd.
Trading Symbol: OSI
John Jacobson, President and CEO of Offshore Systems International Ltd.
(Offshore) is pleased to announce that Offshore has recently passed a major
milestone with the United States Coast Guard. The US Coast Guard's Command
and Control Engineering Center has approved Offshore's latest edition of the
specialized ECPINS(R) software for the Coast Guard's WLM and WLB buoy tending
vessels. This approval opens the way for fleet-wide upgrades to the Coast
Guard's thirty vessel buoy tending fleet in 2000. The latest software release
supports Dual Global Positioning receivers and adds many other
mission-specific Buoy Tending Enhancements.
This event marks further growth in Offshore's relationship with the US
Coast Guard, with the Command and Control Engineering Center as a new
customer. This organization has a dual role within the US Coast Guard, first
supporting the command and control systems on all ships and shore units, and
second developing new integrated tactical and navigation systems. In addition
to developing enhancements to the latest ECPINS(R) software, they have also
contracted Offshore to deliver a new product, an integrated back-up system for
the buoy-tending vessels. A total of eight back-up systems have been ordered
to date, and three have been delivered and installed. OSI expects that the
balance of the WLM and WLB fleet will ultimately be equipped with these backup
systems. New ECPINS(R) and chart sales, system upgrades, the backup systems,
and related purchases are expected to generate between $3.5 million and $5
million in new orders in the 2000 fiscal year.
Jacobson said ``We are very pleased to see our relationship with the US
Coast Guard continue to expand. The Command and Control Engineering Center is
Coast Guard's centre of excellence for Electronic Charting and Radar Systems,
and we look forward to working closely with them in supporting the Buoy Tender
fleet and in exploring new business areas. Now that this current round of the
fleet upgrades is underway, we have expanded our focus towards the
requirements for the next round of ongoing specialized ECPINS(R)
enhancements.'
Offshore has more than a decade of experience providing electronic chart
systems for Navy, Coast Guard, passenger and other commercial vessels. This
gives the company a unique capability to provide ECPINS(R) systems with
specialized functions that support mission objectives in inherently high-risk
situations where precision, performance, and reliability are paramount.
Offshore Systems International Ltd. is listed on the TSE and CDNX
(Symbol: OSI). Offshore designs, develops and markets the ECPINS (Electronic
Chart Precise Integrated Navigation System) line of electronic chart
navigation systems. Worldwide, the technology has been hailed as the most
significant advance in marine navigation since the advent of radar over 50
years ago. |
