i have been long on this company for almost 2 years and it is damn frustrating hopefully this latest news will take it over $6.
Wescam Awarded C$19 Million Follow-On Order From Lockheed Martin For
U.S. Navy P-3C Contract
FLAMBOROUGH, ONTARIO--Wescam announced today that it has received
a C$19 million follow-on order from Lockheed Martin Corporation
("Lockheed Martin"), acting through its Naval Electronics and
Surveillance Systems - Eagan Division, Minnesota, pertaining to
the United States Navy P-3C Orion upgrade program. Lockheed
Martin has exercised a fourth set of options to purchase
additional variants of the WESCAM( 20 multi-sensor systems for the
U.S. Navy. This latest order is scheduled for delivery between
the first quarter of fiscal 2001 and the second quarter of 2002.
Wescam was initially contracted by Lockheed Martin to supply
systems for the "P-3" maritime patrol aircraft upgrade program in
October 1997. The total contract value to date, including today's
follow-on order announcement, is C$74 million.
"Wescam introduced its WESCAM( 20 technology into the government
and military program marketplace in 1997," stated Mark
Chamberlain, Wescam's President and Chief Executive Officer. "It
is satisfying to see the systems beginning to enter the P-3 fleet
and undergo operational deployment where they can make a positive
impact on the maritime patrol mission of the U.S. Navy."
Wescam is a world leader in the design and manufacture of wireless
visual information systems, providing real time images as
information for a variety of government and commercial customers
around the globe. Wescam captures images from moving platforms
that range from aircraft, helicopters, airships and the Space
Shuttle to racing cars, tracks, boats and cranes, and transmits
those images via wireless communication link to the end user.
Wescam is traded on The Toronto Stock Exchange under the symbol
"WSC". |
