Harris Corporation Awarded $22 Million Production Contract for U.S. Army Mobile Rocket Launcher Electronics.
MELBOURNE, Fla.--(BUSINESS WIRE)--May 5, 2003
Harris Corporation (NYSE:HRS) today announced that it has been awarded a $22 million contract by Lockheed Martin Missiles and Fire Control, Dallas, Texas, for production of electronics for the Improved Fire Control System (IFCS) used in the U.S. Army's Multiple Launch Rocket System (MLRS) M270A1 and High Mobility Artillery Rocket System (HIMARS) launchers. The Harris-manufactured electronics vastly improve the accuracy, speed, and reliability of the launcher systems. This is a follow-on to a series of IFCS program contract awards that began in 1992, and which now total nearly $170 million. Further production and retrofit awards could increase the overall contract value for Harris to $500 million by 2016.
Under terms of this sixth production lot contract, Harris will provide three Line Replaceable Units (LRUs) consisting of the Launcher Interface Unit, Power Switching Unit, and Weapon Interface Unit. In addition to improving accuracy, speed and reliability, the IFCS also increases the types of munitions that the MLRS can fire.
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 HIMARS, currently in full-scale development, is a wheeled version of the MLRS that is capable of firing six surface-to-surface rockets or one ATACMS. The rockets of both vehicles can be fired individually or in ripple-fashion using the new automated fire control system.
"We are excited about the award of yet another IFCS production lot and are leveraging our MLRS experience to help provide Lockheed Martin with a similar solution for the next-generation HIMARS," said Bob Henry, senior vice president, Harris Corporation and president, Harris Government Communications Systems Division (GCSD). "Both the MLRS and HIMARS mobile rocket launcher programs are critical to the U.S. warfighters' ability to maintain the edge over combatants when it comes to superior mobility and more rapid delivery over greater distances of ordnance on targets."
Lockheed Martin, prime contractor for the MLRS, announced in March 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, one of five divisions within Harris Corporation, conducts advanced research studies, develops prototypes, and produces and supports state-of-the-art, assured communications and information systems that solve the mission-critical communications challenges of its military and government customers, while serving as the technology base for the company's diverse commercial businesses. Harris Corporation, which also provides tactical radio, broadcast, microwave, and network support products and systems, provides sales and services to customers in more than 150 countries. For more information, visit http://www.harris.com
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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. Other factors that may impact the company's results and forward-looking statement may be disclosed in the company's filings with the SEC. 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:||May 5, 2003|
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