still alive, will announce numbers fri. am
Just announced a new $2 mil contract plus
Signal Technology Signs Two-Year, $13.5-Million Agreement With Raytheon Systems Company
DANVERS, Mass.--(BUSINESS WIRE)--Oct. 21, 1998--Signal Technology Corp. (ASE:STZ) Wednesday announced it has signed a two-year strategic agreement with Raytheon Systems Company to produce numerous sophisticated electronic components for Raytheon's AMRAAM, Standard Missile, Phalanx and Patriot programs.
The agreement is valued at $13.5 million, with Signal Technology's Olektron, Arizona, California and Systems Operation divisions to perform the work.
"We are very pleased to have forged this new strategic relationship with Raytheon, one of our most important customers," said George Lombard, Signal Technology's board chairman, president and chief executive officer. "This contract marks the continuation of a long and successful business collaboration, as over the years we have met the investment challenge and produced many custom, high-reliability components for Raytheon's programs."
Lombard continued: "In addition, this agreement provides a solid production base for our radio frequency (RF) and microwave operations, two of our core products. We look forward to capitalizing on our leading reputation in the defense industry to identify other similar opportunities." |
