Metal Storm Signs Teaming Agreement with Curtiss-Wright/ VISTA Controls for the Customer Demonstration of a Repeatable Access Denial Weapon System
ARLINGTON, Va.--(BUSINESS WIRE)--Jan. 27, 2003--Metal Storm Limited ((NASDAQ ticker symbol: MTSX) and (ASX Code: MST)), announced today that it has signed a teaming agreement with VISTA Controls, Inc., a Curtiss-Wright company (NYSE: CW, CW.B), for research, development, construction and demonstration of the Metal Storm Repeatable Access Denial System (RADS).
Under this agreement, a Metal Storm stacked round RADS system will be combined with VISTA's stabilized weapons platform, acquisition sensor, integrating software and fully integrated user console. Metal Storm and VISTA will conduct system performance studies and functional capability assessments of this weapon system to produce a fully integrated RADS demonstrator.
The RADS system is intended to be used for very close-in defense and can be utilized against small, lethal, rapidly moving hostile threats, either on land or at sea. It also incorporates Metal Storm's new generation firing system, announced in a release by the company on 23 September 2002, which substantially reduces the complexity of the ballistic component of the weapon.
Mike O'Dwyer, president and chief executive officer of Metal Storm said, "This agreement is an excellent example of how our company is now attracting prominent and highly capable US defense companies to join with us in advancing our proprietary electronic ballistic technology. VISTA Controls is a leader in designing and producing world class fire control sub-systems and related software, as evidenced by their product placement into key defence programs such as the Abrams main battle tank, the Bradley fighting vehicle, Global Hawk and the Space Shuttle upgrade program. We believe that combining our RADS technology, across a range or combination of calibres, with VISTA's systems will provide Metal Storm with an enhanced performance capability. Our goal in 2003 is to demonstrate this fully integrated weapon system to defense agencies with a view to achieving production contracts."
Mr. Darwin Beckel, president of VISTA Controls added, "We are very pleased to be teamed with Metal Storm in taking the unique capability of their new and versatile RADS system to the next level of development. Our company continually looks for new technologies that, when integrated into a network centric architecture, provide a powerful combination of firepower and information. We know of many customers that will be pleased to witness the demonstration we will be offering with the RADS product."
Visit www.metalstorm.com
About Metal Storm
Metal Storm Limited is a research and development company based in
Brisbane, Australia. The company is capturing attention from defence
organisations worldwide with its revolutionary 100% electronic
ballistics technology, which has no known conventional equivalent.
Metal Storm currently has approximately US$50 million in research and
development funding in place to develop its technology from leading
government defence-related agencies in Australia and the United
States. Additionally, the company is well positioned to support the
U.S. government's more urgent homeland defense needs. Recently, the
U.S. Department of Defense has accelerated the programs under
development as it strengthens its counter-terrorism capabilities.
About Curtiss-Wright and VISTA Controls:
Curtiss-Wright: Curtiss-Wright Corporation has a long history with
its roots dating back to the Wright brothers' first flight in 1903.
They have taken their engineering strengths to several markets in
which they have established three business segments: Controls, Flow
Control and Metal Treatment. The Controls business segment designs,
engineers and manufactures actuation components and systems used for
leading and trailing edges wing flaps on commercial and military
aircraft; systems for opening and closing weapons bay doors on fighter
aircraft, suspension systems and turret stabilising and aiming systems
for armored vehicles, integrated mission management and flight control
computers, ammunition handling and fire control systems, and perimeter
intrusion detection systems. Through the recent acquisition of Lau
Defense Systems (LDS) and VISTA Controls, Curtiss-Wright is now a
leading provider of "turn-key" mission critical military electronics
systems, providing design, development, documentation, and support
services. In addition to its core business of providing electronics
systems to the U.S. military, Curtiss-Wright also offers perimeter
intrusion detection security systems and has a licensing agreement for
facial recognition products for certain U.S. Government and industrial
markets. www.curtisswright.com
VISTA Controls Corp. (VISTA): VISTA Controls, with operations in
Santa Clarita, Calif., and Littleton, Mass., designs and develops a
wide variety of leading-edge defence electronics systems and
board-level items including SBCs, graphics, high-speed data fabrics,
I/O, memory, chassis and security sensor products. The company
specialises in the design and development of electronics systems,
turnkey power control, security networks and distribution subsystems
with emphasis on manufacturing engineering, configuration and
obsolescence management for military programs. Applications for its
products range from mission processors, fire control and power
distribution subsystems for ground vehicles, surface and subsurface
naval platforms, and tactical and strategic fixed- and rotary-wing
aircraft, to low- and high-earth orbit space vehicles and security
sensors for fixed asset platforms. www.vistacontrols.com
Safe Harbor
Certain statements made herein that use the words "estimate",
"project", "intend", "expect", "believe" and similar expressions are
intended to identify forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks and
uncertainties which could cause the actual results, performance or
achievements of the company to be materially different from those
which may be expressed or implied by such statements, including, among
others, risks or uncertainties associated with the development of the
company's technology, the ability of the company to meet its financial
requirements, the ability of the company to protect its proprietary
technology, potential limitations on the company's technology, the
market for the company's products, government regulation in Australia
and the U.S., changes in tax and other laws, changes in competition
and the loss of key personnel. For additional information regarding
these and other risks and uncertainties associated with the company's
business, reference is made to the company's reports filed from time
to time with the Securities and Exchange Commission, including the
company's Form 20-F.
CONTACT: Metal Storm, Inc.
Charles Vehlow, 703/248-8218
ms@metalstorm.com
or
Lippert/Heilshorn & Assoc.
Investor Contact:
Jody Burfening, 212/838-3777
jks@lhai.com
Media Contact:
Chenoa Taitt, 212/838-3777
ctaitt@lhai.com
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