Harris Corporation Awarded $19 Million Production Contract for U.S. Army Multiple Launch Rocket System Electronics.
MELBOURNE, Fla.--(BUSINESS WIRE)--April 1, 2002
Harris Corporation (NYSE:HRS), a world leader in advanced electronics and communications systems for airborne platforms and mobile rocket launchers, today announced that it has been awarded a $19 million contract by Lockheed Martin Missiles and Fire Control, Dallas, Texas, for production of Improved Fire Control System (IFCS) electronics for the U.S. Army's Multiple Launch Rocket System (MLRS) M270A1 launcher. The current award is a follow-on to a series of IFCS program contracts which were first awarded in 1992, and which now total nearly $140 million. Further production and retrofit awards could increase the overall contract value for Harris to $500 million by 2010.
The MLRS M270A1 is a combat-proven, self-contained, highly mobile artillery weapon currently capable of deploying 12 surface-to-surface rockets or two Army Tactical Missile System (ATACMS) missiles. The rockets can be fired individually or ripple-fashion using the new automated fire control system.
Under terms of this contract, the fifth Low Rate Initial Production (LRIP) lot, Harris will provide three Line Replaceable Units (LRUs) that will vastly improve the accuracy, speed, and reliability of the MLRS launchers. The Harris-manufactured electronics, consisting of the Launcher Interface Unit, Power Switching Unit, and Weapon Interface Unit, also will increase the types of munitions that the MLRS can fire once the system is fielded.
"Harris participated in key programs and partnerships with Lockheed Martin and the U.S. Army to infuse commercial (COTS/NDI) technologies into this program in order to field a lower-cost fire control system with greater capability," said Bob Henry, president, Harris Government Communications Systems Division (GCSD). "We are excited about the award of yet another IFCS production lot and are working hard to leverage our MLRS experience to help provide Lockheed Martin with a similar solution for the next-generation High Mobility Artillery Rocket System (HIMARS)."
Lockheed Martin, prime contractor for the MLRS, announced in December 2001 that it signed a contract with the U.S. Army Aviation and Missile Command (AMCOM) to produce the MLRS M270A1 launchers. Delivery of the launchers, complete with the improved fire control equipment provided by Harris, is expected to take place in calendar year 2004.
Harris GCSD conducts advanced research studies, develops prototypes, and produces and supports state-of-the-art, highly reliable communications and information systems that solve the mission-critical communications challenges of its military and government customers, and provides the technology base for the company's diverse commercial businesses.
Harris Corporation is an international communications equipment company focused on providing product, system, and service solutions for commercial and government customers. The company's five operating divisions serve markets for microwave, broadcast, network support, tactical radio, and government systems. Harris has sales and service facilities in more than 90 countries. Additional information about Harris Corporation is available at http://www.harris.com.
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the expected value of the program to Harris are forward-looking and involve risks and uncertainties. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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|Date:||Apr 1, 2002|
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