Signal Technology Wins Multi-Year Production Contract From BAE Systems
DANVERS, Mass., May 21, 2002 (BUSINESS WIRE) -- Company Awarded $2.8 Million Order for State-of-the-Art Power Supplies for Electronic Warfare and Avionics on U.S. Navy's F/A-18 E/F Fighter
Aircraft Platform
Signal Technology Corporation (Nasdaq: STCO) today announced the receipt of an initial production order from BAE SYSTEMS plc for multi-output, low-voltage power supplies. These high-reliability power supplies have been designed into BAE SYSTEMS' APX-111(V) Identification Friend or Foe Combined Interrogator/Transponder and Next Generation Common Avionics Transponder for deployment on the U.S. Navy's F/A-18 E/F aircraft and other military airborne and shipboard platforms. This initial production order is part of a multi-year agreement with BAE SYSTEMS valued at $2.8 million.
"This award demonstrates that Signal Technology's aggressive investments in R&D, coupled with our lean manufacturing initiatives, have strengthened our competitive position and our presence with the nation's defense prime contractors," said Chairman and Chief Executive Officer George Lombard. "Once again, Signal Technology's ability to provide state-of-the-art design and low-cost manufacturing has bolstered our customer's drive to win major defense electronics programs. Being able to provide our customers this high level of value positions Signal Technology's defense business to continue to grow in line with the trend toward greater reliance on electronic intelligence and communications in U.S. military platform development."
The award from BAE SYSTEMS calls for the initial release of more than 1,500 power supplies to be manufactured by Signal Technology's Florida-based Keltec Operation. "In pursuing this multi-year agreement, we worked closely with the team at BAE SYSTEMS to become part of their Integrated Product Development process," said John Cotumaccio, president and chief operating officer, Signal Defense Group. "Building on the quality of the product designs that stemmed from this team-focused approach, our fully automated and low-cost manufacturing capabilities will enable Signal Technology to dramatically reduce the cycle times required for delivery of high-reliability, high-performance power supplies to this important customer |
