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Technology Stocks : Metal Storm Ltd -- Ignore unavailable to you. Want to Upgrade?

To: Saulamanca who wrote (44)	4/27/2004 11:45:28 AM
From: Saulamanca	Respond to of 75

Shoulder Fired Capability Extends Metal Storm's 40mm Calibre Development ARLINGTON, Va., Apr 27, 2004 (BUSINESS WIRE) -- Metal Storm Limited (MTSX) (ASX: MST)-- Metal Storm has expanded its generic 40mm weapon system with the test firing of a shoulder fired, single barrel, multi shot weapon, which enables a soldier to repeatedly engage a moving target without reloading. Metal Storm Chief Executive Officer, Mr. Charles Vehlow, said the development of the shoulder fired, four shot Electronic Grenade System reinforced the company's technology development focus on the critically important 40mm caliber. "The outcome is a natural progression of our Metal Storm 40mm Ballistic System development and draws on recent achievements from the company's internal technical development program, particularly the work being done as part of the planned firing demonstrations in the US in coming months," Mr. Vehlow said. The Electronic Grenade System utilizes the same lightweight non-metallic material and multi shot cartridge that formed part of other Metal Storm 40mm Ballistic System developments announced by the company in March this year. Mr Vehlow said that the Electronic Grenade System highlighted the portability of the company's 40mm Ballistic System development between various applications, including those used for unmanned ground vehicles, UAVs, access denial systems and shoulder fired weapons. "Metal Storm is very focused on developing specific product applications which have the best commercial potential, and which are capable of producing numerous product applications from the company's core 40mm development program," Mr Vehlow said. Metal Storm will apply the test outcomes in the development of a more advanced system, including increased firepower, rapid reload and a recoiling barrel design. The advanced system is intended to fire a range of different types of grenades, including stun, high explosive, and less-than-lethal. Metal Storm expects that future shoulder fired systems will be developed as a clip on/off attachment for existing military small arms.