It happens SM...big contract on EASI 34.41 -.09 today: Tuesday January 29, 9:23 am Eastern Time
Press Release
SOURCE: Engineered Support Systems, Inc.
Engineered Support Receives $67 Million Contract For U.S. Air Force Tunner Cargo Loader
ST. LOUIS, Jan. 29 /PRNewswire-FirstCall/ -- Engineered Support Systems, Inc. (Nasdaq: EASI - news) received a U.S. Air Force contract totaling $67 million for the production of its Tunner 60-K Aircraft Cargo Loader/Transporters (Tunner). Deliveries under this order are expected to commence in April of next year and will run through spring of 2004, according to Michael F. Shanahan, Sr., Chairman and CEO.
The Tunner, developed and manufactured exclusively by the Company's Systems & Electronics subsidiary, is considered the backbone of U.S. military airlift operations. It is a versatile, mobile vehicle with a unit load capacity of 60,000 pounds that is designed to quickly load and unload cargo from military transport aircraft in support of global airlift operations.
Shanahan commented, ``The rapid deployment of American military troops and equipment to destinations around the globe is largely dependent upon the efficient operations of the U.S. Air Force Air Mobility Command. Fleets of military cargo aircraft carrying vital machinery and supplies must be loaded and unloaded quickly and safely whenever and wherever America's warfighters are called into action.
``During the four years since its introduction, the Tunner has filled this critical role, dramatically reducing the time spent loading and unloading large cargo aircraft from hours to minutes. Aircraft are off the ground and back in the air more quickly, significantly improving military operational tempo. The U.S. military's rapid deployment operations begin with the Tunner.''
To date, the U.S. Air Force has ordered a total of 280 Tunners, which are now deployed at more than 50 airbases worldwide, and plans to purchase another 38 units from Engineered Support over the production term of the program. The current total contract backlog for the Tunner program stands at approximately $225 million, with production at the Company's West Plains, MO facility expected through 2005.
Engineered Support Systems, Inc. is a diversified supplier of high-tech, integrated military electronics, support equipment and logistics services for all branches of America's armed forces and certain foreign militaries. The Company also serves a variety of commercial customers. For additional information about Engineered Support Systems, please visit the Company's website at www.engineeredsupport.com .
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