TITAN WINS $18 MILLION NAVY WARGAMING CONTRACT.The Titan Corporation's 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. Titan System Corporation has been awarded a contract to design and execute complex, computer simulated war games for advanced tactical training of the U.S. Navy's Pacific Fleet. With an initial base year award and four one-year options, if exercised, the contract has a potential value of over $18 million.
"Titan has been providing this computer simulation expertise to the Navy for the past 13 years," said Gene Ray, Titan's president, chairman, and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The work plays a vital role in preparing and training our forces for the wide variety of scenarios and uncertainties that they may have to face in today's war time environment."
Under this contract, Titan will execute over 150 war games each year to support a training curricula and pre-deployment work-up training for the ships, submarines, squadrons and Marine units of the Fleet. Titan will create, build, test, execute and analyze very complex and realistic scenarios that include all aspects of modern maritime operations including expeditionary warfare Expeditionary warfare is used to describe the organistion of a nations military to fight abroad, especially when deployed to fight away from its established bases at home or abroad. , anti-terror warfare, force protection, information warfare, and the traditional elements of modern fleet and joint operations across the globe. Players in these war games are senior officers of the U.S. Navy, U.S. Marine Corps, other Services and our Allies in the Pacific Theater of Operations This article concerns the Pacific Theater of Operations'' as defined by the U.S. military. For information on campaigns and battles in Asia and the Pacific during World War II, see Pacific War. . Titan will use the Navy's Enhanced Naval Warfare Gaming System and the Marine Corps' Marine Air-Ground Task Force The Marine Corps principal organization for all missions across the range of military operations, composed of forces task-organized under a single commander capable of responding rapidly to a contingency anywhere in the world. Tactical Warfare Simulation to provide a realistic simulation of the war game's battle space.
The work will be accomplished in San Diego and at other US Pacific Fleet locations as required.
Headquartered in San Diego, The Titan Corporation creates, builds and launches technology-based businesses, offering innovative technical solutions. For more than 20 years, Titan has provided comprehensive information systems solutions and services to the Department of Defense and intelligence agencies. Today, three of Titan's four core businesses develop and deploy communications and information technology solutions and services for both government and commercial customers. In addition, Titan's subsidiary SureBeam markets the leading technology for the electronic pasteurization pasteurization (păs'chrĭzā`shən, -rīzā`shən), partial sterilization of liquids such as milk, orange juice, wine, and beer, as well as cheese, to destroy of food products and Titan is continually identifying promising technologies suitable for commercialization. The company has 10,000 employees and annualized annualized
Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. sales of approximately $1.3 billion.