DRS Technologies Receives New U.S. Army Special Operations Contract to Produce Intelligence Broadcast Receivers for Military Aircraft.Business Editors PARSIPPANY, N.J.--(BUSINESS WIRE)--Nov. 18, 2003 Contract Valued at $62 Million, Including Options DRS Technologies DRS Technologies, Inc. (commonly known as DRS; formerly known as Diagnostic/Retrieval Systems, Inc.) is a supplier of defense electronic products and systems to the United States Air Force, Army, Coast Guard, Marine Corps, Navy, aerospace and defense prime , Inc. (NYSE NYSE See: New York Stock Exchange : DRS DRS Drives (street suffix) DRS Dispute Resolution Service DRS Doctorandus DRS Department of Rehabilitative Services DRS Direct Registration System (securities) DRS Department of Rehabilitation Services ) announced today that it has been awarded a new contract, valued at $62 million including options, to develop and produce Concord(TM) Intelligence Broadcast Receivers (IBRs) for installation on military helicopters, as well as a variety of other aircraft. The indefinite delivery/indefinite quantity (ID/IQ ID/IQ Indefinite Delivery/Indefinite Quantity ID/IQ Indefinite Duration/Indefinite Quantity ) contract was awarded to DRS by the Technology Application Contracting Office (TAKO) in Ft. Eustis, Virginia, in support of the Technology Applications Program Office (TAPO TAPO Technology Applications Program Office TAPO Traded Average Price Option ), U.S. Army Special Operations Command A subordinate unified or other joint command established by a joint force commander to plan, coordinate, conduct, and support joint special operations within the joint force commander's assigned operational area. Also called SOC. See also special operations. (USASOC USASOC United States Army, Special Operations Command (US DoD) ). Work for the initial $3.8 million order will be accomplished by the company's DRS Engineering Development Labs unit in Dayton, Ohio. Product deliveries are expected to commence in 2004 and continue through 2008. For this award, DRS will modify its Concord(TM) Tactical Receiver design, perform qualification and first article testing, and manufacture IBR IBR see infectious bovine rhinotracheitis. IBR/IPV see infectious bovine rhinotracheitis/infectious pustular vulvovaginitis. production units. "This award strengthens DRS's position as a key supplier of avionics equipment and aircraft integration for the digital battlefield and is expected to provide other opportunities for us to participate on additional aircraft integration programs that can use the IBR," said Steven T. Schorer, president of DRS's Electronic Systems Group. "We have a solid foundation in this technology and a proven product line, having spent more than eight years developing and integrating tactical receivers. Our extensive experience will result in a low-cost, low-risk IBR solution." DRS is a recognized leader in the development and integration of airborne tactical receivers, building on more than eight years of experience and making the company uniquely qualified for meeting the requirements of IBR. The engineering team of DRS Engineering Development Labs received the U.S. Air Force Association's highest award for science and technology, the Theodore von Karman Award, in 2001 for its participation in the Operation Northern and Southern Watch Bolt-On Multi-Mission Advanced Tactical Terminal (MATT) Receiver Integration program. DRS Technologies, headquartered in Parsippany, New Jersey, provides leading edge products and services to defense, government intelligence and commercial customers. Focused on defense technology, DRS develops and manufactures a broad range of mission critical systems. The company employs 5,700 people worldwide. For more information about DRS Technologies, please visit the company's web site at www.drs.com. |
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