L-3 Communications WESCAM Receives Four-Year $8.4 Million Contract for U.S. Army Airborne Standoff Minefield Detection System -Astamids-.
NEW YORK--(BUSINESS WIRE)--July 15, 2003
L-3 Communications (NYSE NYSE
See: New York Stock Exchange : LLL LLL
left lower lobe (of the lung) ) announced today that its wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , L-3 Communications WESCAM (L-3 WESCAM), has received a contract from Northrop Grumman Integrated Systems Sector, Melbourne, Fl. L-3 WESCAM is contracted to supply state-of-the-art M11 digital video electro-optic/infrared (EO/IR EO/IR Electro-Optical/Infra-Red ) countermine step-stare sensor systems over the four-year System Development and Demonstration (SDD (Software Design Description) The architecture of an information system. See IDD. ) for the U.S. Army's Airborne Standoff Minefield Detection System. The total contract is valued at $8.4 million, of which $1.6 million is funded, with the balance expected to be funded over the four-year period.
L-3 WESCAM's multi-spectral step-stare gyrostablized system will provide the Army with the capability to methodically capture extremely high-resolution digital stills at high speed and combine them into a large, high-resolution composite image.
"We are delighted with Northrop Grumman's and the U.S. Army's confidence in our development capabilities and the effectiveness of our equipment to support the U.S. Army's missions," said Mark Chamberlain, president of L-3 WESCAM. "This contract confirms L-3 WESCAM as the world leader in technology, development and production of high-performance EO/IR countermine sensor systems for small UAVs such as those specified for the U.S. Army's Future Combat System and the Extended Range Multi-Purpose (ERMP) UAV."
WESCAM is a world leader in the design and manufacture of wireless visual information systems, with capabilities that include the capture of images from mobile platforms and/or transmission of those images in real time to tactical command sites for interpretation, or to production facilities for live broadcast.
To learn more about L-3 WESCAM, please visit the company's Web site at www.wescam.com.
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 merchant supplier of Intelligence, Surveillance and Reconnaissance Intelligence, Surveillance and Reconnaissance may refer to:
executive department - a federal department in the executive branch of the government of the United States , selected U.S. Government intelligence agencies, aerospace prime contractors and commercial telecommunications and wireless customers.
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. 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.