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Company Press Release
SOURCE: LaBarge, Inc.
LaBarge Wins New Contracts Valued at $13.7 Million to
Produce Electronic Assemblies For AEGIS Program
ST. LOUIS, Jan. 22 - LaBarge, Inc. (Amex: LB - news) announced today it has been
awarded two new contracts totaling $13.7 million to produce high performance electronic assemblies
for the AEGIS shipboard weapon system. Under the new multi-year contracts, LaBarge will supply the
assemblies through the U.S. government's 2001 fiscal year.
The awards include a $7.9 million contract from Lockheed Martin Government Electronics Systems in
Moorestown, N.J., and a $5.8 million agreement with General Dynamics in Pittsfield, Mass., and
Burlington, Vt. The new contracts bring to $18.4 million the value of new business on the AEGIS
program awarded to LaBarge in recent months. In October, the company announced that Lockheed
Martin had awarded LaBarge a $4.7 million contract to produce electronic assemblies for AEGIS
systems purchased by the Spanish government.
Under the new agreements, LaBarge will supply a variety of high performance electronic products,
including printed circuit card assemblies and the system's director controller equipment. The work will
be done at LaBarge's manufacturing facility in Huntsville, Ark.
The AEGIS system is an advanced ''total weapon'' system. It integrates missiles, rapid-fire Gatling gun
cannons and electronic countermeasures to provide anti-air, anti-surface and anti-submarine protection
to the naval fleet. AEGIS is designed to function effectively in adverse environments.
The company has manufactured electronic assemblies for the AEGIS program, its largest defense
program, since 1990. The company has received the prestigious AEGIS Excellence Award three
times. This award is given annually by the Navy and Lockheed Martin to a few select companies that
demonstrate outstanding support for the AEGIS program.
Craig E. LaBarge, chief executive officer and president, made the announcement and commented:
''We are very pleased to continue our long-standing involvement on the AEGIS program and are
gratified that Lockheed Martin and General Dynamics have selected LaBarge as their manufacturing
partner on this important defense initiative.''
LaBarge, Inc. designs and manufactures high-performance electronics and systems for specialized
applications in a variety of different industries, including geophysical, wireless telecommunications,
medical, commercial aerospace, and defense. Headquartered in St. Louis, the Company employs a
workforce of approximately 800 and operates manufacturing facilities in Missouri, Arkansas,
Oklahoma and Texas. |
