L-3 Communications Acquires TCS Design and Management Services.NEW YORK -- L-3 Communications (NYSE NYSE See: New York Stock Exchange : LLL LLL abbr. left lower lobe (of the lung) ) announced today that it acquired TCS (Transportation Control System) A widely used integrated information system for railroad transportation developed by the Missouri Pacific Railroad Company in the late 1960s and early 1970s. It was later implemented by Union Pacific when the companies merged. Design and Management Services (TCS) on January 26, 2006. The terms of the transaction were not disclosed. The business, which has been renamed L-3 TCS, will report to L-3's Integrated Systems Group and will be included in L-3's Aircraft Modernization and Maintenance (AM&M) reportable segment. The acquisition is expected to add approximately $45 million to L-3's sales in 2006 and be slightly accretive to L-3's earnings. Headquartered in Warner Robbins, GA, TCS specializes in fixed and rotary wing aircraft and avionics system engineering services for the U.S. Air Force Special Operations community. The company provides software development and integration, modification, testing, documentation, inspection and depot maintenance services to its customers, which also include prime aerospace contractors and the U.S. Army. TCS also has a major facility in Fort Walton Beach, Florida Fort Walton Beach is a city in Okaloosa County, Florida, United States. As of 2004, the population estimate for Fort Walton Beach, Florida is 19,992 recorded by the U.S. Census Bureau.[2] Fort Walton Beach is a year round fishing and beach resort. . Founded in 1988, TCS has nearly two decades of experience with special operations forces Those Active and Reserve Component forces of the Military Services designated by the Secretary of Defense and specifically organized, trained, and equipped to conduct and support special operations. Also called SOF. (SOF) service, including aircraft and avionics systems hardware and software integration, test and evaluation and program office support, as well as reliability and maintainability and integrated logistics support A composite of all the support considerations necessary to assure the effective and economical support of a system for its life cycle. It is an integral part of all other aspects of system acquisition and operation. Also called ILS. . TCS has provided services in support of the H-60 (U.S. Air Force, U.S. Army, U.S. Navy), MH-53J, H-1, CV-22, H-3, C-130 (and its variants), C-141, DHC-6, DHC-7 and DHC-8 air platforms. "TCS strengthens L-3's capabilities as a provider of critical services and products to our important SOF customer," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "TCS focuses on configuring and upgrading new systems onto existing platforms for SOF use, which is highly synergistic with L-3's existing work with U.S. 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. (USSOCOM USSOCOM United States Special Operations Command )." Mr. Lanza also noted that TCS' capabilities are in the fast-growing SOF niche of aircraft sustainment and that the business has a strong reputation within the customer community. "TCS has a skilled workforce with legacy SOF expertise and knowledge of important missions, particularly Big Safari, which is an existing L-3 program. Along with expanding our presence in the SOF market, the acquisition also increases the market opportunities available to TCS as a part of L-3." "This is a vertical acquisition in a strong segment and adds substantial horizontal programs to the SOF niche," continued Mr. Lanza. "Being part of L-3's substantially larger base and market penetration, TCS will help maintain our own organic growth in out years." Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance Intelligence, Surveillance and Reconnaissance may refer to:
Homeland Security executive department - a federal department in the executive branch of the government of the United States , selected U.S. Government intelligence agencies and aerospace prime contractors. To learn more about L-3 Communications, please visit the company's web site at www.L-3com.com. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and OF 1995 Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates" and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements. |
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