AEL RECEIVES $5.2 MILLION ON NAVY AWARD
AEL RECEIVES $5.2 MILLION ON NAVY AWARD LANSDALE, Pa., Sept. 8 /PRNewswire/ -- AEL Industries, Inc.
(NASDAQ-NMS: AELNA) today announced that its AEL Defense Corp. subsidiary has received $5.2 million for additional quantities of the Type-18 Periscope Mounted Automatic Direction Finding system from the Naval Sea Systems Command, Department of the Navy, Washington.
This award brings the total number of AEL-produced systems to 24. Each system includes equipment such as antenna subsystems, radio frequency receiving devices, a digital processor and a display. Work on the Type-18 program is an example of AEL's capabilities in the field of radar warning and detection systems. The system will be integrated on U.S. Navy SSN 688 class attack submarines. The total value of the contract currently exceeds $17.5 million. AEL is a leading supplier of electronic defense systems and subsystems. The company designs and manufactures sophisticated countermeasures, simulation and radar warning receiver systems; installs and integrates electronic and avionic equipment in military aircraft, and provides state-of-the-art antenna, microwave and integrated circuit components. The Class A common stock of AEL Industries, Inc. is traded in the Over-the-Counter market on the NASDAQ National Market System under the symbol AELNA. /delval/ -0- 9/8/92 /CONTACT: AEL Industries Corporate Communications, 215-822-2929/ (AELN) CO: AEL Industries, Inc. ST: Pennsylvania IN: ARO SU: CON
LJ-MP -- PH025 -- 7092 09/08/92 14:57 EDT
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|Date:||Sep 8, 1992|
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