Signal Technology Awarded Power Supply Contract; Company Selected by Smiths Aerospace to Develop Low-Voltage Power Supplies for Defense Aircraft Platforms
DANVERS, Mass.--(BUSINESS WIRE)--June 20, 2002--Signal Technology Corporation (Nasdaq:STCO) today announced that it has been selected by Smiths Aerospace to develop a state-of-the-art low-voltage power supply for defense aircraft platforms. The award is valued at $1 million, and significant follow-on potential is anticipated.
Signal Technology will develop the power supplies for the Smiths Aerospace electronic stores management system processors onboard the U.S. Navy F-18 E/F Superhornet fighter, the U.S. Marine Corps. AV-8B Harrier strike aircraft, the Hawk family of U.S. defense helicopters and the European NH-90 helicopter. One of four businesses forming U.K.-based Smiths Group plc, Smiths Aerospace is now the largest aerospace equipment company headquartered in Europe.
"This award recognizes our ability to supply the defense electronics industry with state-of-the-art, high-reliability power supplies at commercial prices, and enables us to extend our long-term relationship with Smiths Aerospace," said Signal Technology Chairman and Chief Executive Officer George Lombard. "Most important, the contract represents an opportunity for Signal Technology to participate in yet another electronic mission suite that better enables pilots and their aircraft to perform at peak capability. Our products have been designed into many of America's defense aircraft platforms as well as numerous platforms deployed by our allies overseas."
"Our selection as the developer of this new power supply was based not only on our expertise in electronic power management systems, but also on our ability to work with our customers to satisfy the airframe manufacturer's requirements," said John Cotumaccio, president and chief operating officer, Signal Defense Group. "Once again, Signal Technology's customer focus has resulted in an important contract award and the continuation of a valuable customer relationship." The power supplies will be manufactured at Signal Technology's Keltec Division, based in Fort Walton Beach, Florida. |
