new product win
Air Methods' Products Division Awarded Contract From General Dynamics
DENVER, April 3 /PRNewswire-FirstCall/ -- Air Methods Corporation (Nasdaq: AIRM - news) announced today that its Products Division has received a contract from General Dynamics Land Systems ( www.gdls.com ) for development and production of a Litter System for the U.S. Army's Medical Evacuation Vehicle (MEV). The contract involves the development and production of 27 units to be delivered in 2002. General Dynamics has an option for the production of an additional 91 units delivered in the 2003-2007 timeframe. This contract could potentially be valued up to $5 million, if General Dynamics exercises all options.
``Air Methods continues to expand its leadership position in the development and production of state-of-the-art interior systems for a wide variety of applications,'' said Michael Prieto, President. ``We are very proud of this competitive selection and look forward to developing a long-term relationship with General Dynamics.''
George Belsey, CEO of Air Methods, commented, ``Growth in our Products Division continues to provide a substantial boost to both Air Methods' top and bottom line performance. This contract is a strong indication of the specialized expertise and the professionalism that our Products Division can provide to leading companies such as General Dynamics. We are excited with the opportunities that lie ahead.''
In November 2000, the GM/GDLS Defense Group, a joint venture between General Motors and General Dynamics Land Systems, was awarded a six-year, $4 billion contract to equip the U.S. Army's Brigade Combat Teams with 2,131 interim wheeled vehicles through a series of orders starting in 2001. These new Interim Armored Vehicles (IAV) are the centerpiece of the U.S. Army's effort to transform itself into a more agile and deployable force.
The IAV is a full-time four-wheel drive, selective eight-wheel drive, armored vehicle weighing approximately 19 tons. The IAV can reach speeds of 62 mph on the highway and has a maximum range of 312 miles. The basic Infantry Carrier Vehicle (ICV) variant has armor that protects its two-man crew and nine on-board soldiers from machine gun fire, mortar and artillery fragments. The ICV variant includes configurations such as Reconnaissance, Anti-Tank, Guided Missile, and Medical Evacuation vehicles, as well as carriers for Mortars, Engineering Squads, Command Groups, and Fire Support Teams. A Mobile Gun System variant consists of a General Dynamics Land Systems 105MM cannon mounted in a low-profile turret integrated into the General Motors LAV-III chassis. |
