Offshore Systems, Kelvin Hughes and Lockheed Martin UK Form Alliance to Pursue Warship Navigation Systems Market.
HAVANT, United Kingdom--(BUSINESS WIRE)--June 24, 2003
Lockheed Martin has teamed with two of the world's leading maritime navigational equipment suppliers to pursue the expanding UK and international military market for electronic chart and navigation systems.
Lockheed Martin UK has teamed with Kelvin Hughes Ltd and Offshore Systems Ltd to bid into the initial competitive stage of the MOD's requirement for Warship Electronic Chart Display and Information Systems (WECDIS), which is being considered for installation into all Royal Navy ships. The team includes Babcock Design and Technology Ltd who would manage the task of ship-fitting design and the installation of the systems into the Fleet. If successful, the team would integrate their latest off-the-shelf products - developed and in-service with many navies worldwide - to provide the RN with an immediately available solution to meet the military WECDIS requirement.
Electronic charts are replacing traditional paper charts in many of the world's navies for their ease of use. It is anticipated that WECDIS will also replace existing electro-mechanical chart tables in a significant number of Royal Navy and Royal Fleet Auxiliary ships and submarines.
Ron Christenson, Group Managing Director of Lockheed Martin UK Ltd Systems Integration said: "We have formed a powerful alliance combining the programme management and systems integration skills of Lockheed Martin with the world's top navigational hardware and software suppliers. Our proposal for the UK's WECDIS requirement will provide enhanced situational awareness and improved safety benefits in a package that is both cost-effective and user-friendly. This team gives us a strong position to exploit the expanding market sector for military navigation equipment on a global scale."
The world market for military maritime navigational equipment is estimated to be in excess of $500 million over a 10-year period.
Lockheed Martin UK, a unit of Lockheed Martin Corporation, is a leader in systems integration working on major programmes spanning the aerospace, defence, civil and commercial sectors with significant capabilities in the transport infrastructure market. In the UK, Lockheed Martin has annual sales in the range of Pounds Sterling 400-600 million working with more than 75 business partners. Lockheed Martin employs approximately 1,000 people at over 10 UK facilities including London, Havant, Southampton, Yeovil, Swindon, Hertford, Bristol and Cornwall.
Headquartered in Bethesda, Maryland, Lockheed Martin employs about 125,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The Corporation reported 2002 sales of $26.6 billion.
Notes to Editors:
1. It is estimated that paperless navigation will be achieved across major RN platforms by 2008.
2. Offshore Systems International Ltd. (OSI) provides precise electronic display systems and geo-spatial data for geographic situational awareness. Founded in 1977, OSI maintains a position of technological leadership in its field, a record appreciated by military, government, and commercial customers around the world. OSI conducts its operations through two business units: Offshore Systems Ltd. provides systems for the dynamic display of geo-spatial data for mission-critical operations such as fleet navigation; and OSI Geomatics which provides analysis, production, and distribution of geo-spatial data for electronic display. OSI is listed on the Toronto Stock Exchange (TSX: OSI) and in the United States of America on the Over the Counter Bulletin Board (OTCBB: OFSYF).
3. Kelvin Hughes Limited is part of Smiths Marine Systems and, is one of the world's leading designers and manufacturers of marine navigation systems. The naval Business has supplied more than 30 Navies with Navigation Tactical Displays, Plotting Tables and Specialised Submarine Radar Navigation Systems. The company is also the world's largest maritime chart and corrections agent supplying paper and electronic chart to vessels and worldwide shipping companies. Based in the UK, Kelvin Hughes Limited has a network of over fifty agents around the world. For more information, visit www.kelvinhughes.com.
4. Babcock Design & Technology Limited (BD&T) is part of Babcock Engineering Services who are one of the trading arms of the Babcock International Group. BD&T operate out of two UK locations Rosyth and Weymouth and provide complete Through-Life Engineering and Support for new and existing assets particularly in the Defence market. BD&T's capabilities provide complete engineering and support solutions from concept through to disposal, offering professional and practical services. BD&T specialise in Shipfitting Design and Installation Engineering and provide a proficient service in platform design and installation of equipment and systems into varying types of ships and submarines.
Contact Lockheed Martin: Jeremy Greaves, on: +44(0)2392 44 3977 (mob) +44(0)7887 506338 email: firstname.lastname@example.org.
Or Chris Trippick +44(0)207 798 2856 (mob) +44 (0)7905 356 646 or email: email@example.com.
For additional information on Lockheed Martin UK visit: www.lockheedmartin.co.uk.
For additional information on the Lockheed Martin Corporation, visit our Web site: www.lockheedmartin.com.
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws including Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, OSI's analysis of opportunities in the acquisition and development of various project interests and other matters. These statements are made under the 'safe harbour' provisions of the Private Securities Litigation Reform Act of 1995 and, as such, involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Although Offshore Systems International believes the expectations reflected in such forward-look statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, uncertainties associated with contract negotiations, industry supply.
ECPINS and COP-IDS are trademarks of Offshore Systems Limited. All other trade names mentioned are trademarks and/or registered trademarks of their respective owners.
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|Date:||Jun 24, 2003|
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