Engineered Support Receives $11 Million U.S. Army Contract For Striker System Production
ST. LOUIS, Feb 7, 2002 /PRNewswire-FirstCall via COMTEX/ -- Engineered Support
Systems, Inc. (Nasdaq: EASI) has received a production contract totaling $11.0
million for its Striker system from the U.S. Army. An option exercise under an
existing contract, the award includes the production of 31 Striker systems plus
spares support, according to Michael F. Shanahan, Sr., Chairman and CEO.
The Striker, principally designed for the U.S. Army's fire support mission area,
provides field artillery units with a state-of-the-art digital command control
and battlefield communications system. It utilizes various sensors to provide
the "eyes and brains" necessary to locate enemy targets quickly and accurately
from the safety of a vehicle thus saving time, ammunition and protecting the
lives of military personnel during conflict.
Shanahan commented, "Our Striker system as well as the enhanced versions we're
currently developing greatly strengthen our military ground force's fire-support
and reconnaissance capabilities on the modern day battlefield. With Striker,
Engineered Support is playing a vital role in the U.S. Army's ongoing
transformation into a highly mobile and more lethal, technologically advanced
fighting force."
In total, the Army plans to purchase more than 800 Striker systems over the next
8 to 10 years, representing well in excess of $200 million in potential revenue
to the Company.
Representing a key product within its Electronics & Automation Systems business
segment, the Striker systems will be produced at the Sanford, FL facility of the
Company's Systems & Electronics subsidiary.
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 .
Certain statements in this press release are forward looking in nature and,
accordingly, are subject to risks and uncertainties. The actual results may
differ materially from those described or contemplated. |
