AEL SUBSIDIARY WINS $4.4 MILLION OPTION EXERCISE
AEL SUBSIDIARY WINS $4.4 MILLION OPTION EXERCISE LANSDALE, Pa., Oct. 8 /PRNewswire/ -- AEL Industries, Inc.
(NASDAQ-NMS: AELNA) announced today that the Cross Systems Division of its AEL Defense Corp. subsidiary, has received a $4.4 million award from the U.S. Army Communications-Electronics Command (CECOM) for additional quantities of the Aviation Night Vision Heads-Up Display (ANVIS/HUD) shipsets. Elbit Computers Ltd. of Israel was the original developer of the ANVIS/HUD System and is the major sub-contractor on this program.
The contract calls for the manufacture of ANVIS/HUD devices and helicopter modification kits for the U.S. Army and U.S. Marine Corps. These night vision systems incorporate an advanced, electro-optical capability that combines the image seen by a helicopter pilot through his night vision goggles with computer-generated graphic and digital symbology of the critical information needed for safe operation of the aircraft. This award increases the current contract value to $15.1 million for delivery of 487 shipsets. The program has the potential of requiring up to 3,000 shipsets over the next five years for use on 11 different types of helicopters for a value that could exceed $80 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 on the NASDAQ National Market System under the symbol AELNA. /delval/ -0- 10/8/92 /CONTACT: Corporate Communications of AEL Industries, 215-822-2929/ (AELN) CO: AEL Industries, Inc.; AEL Defense Corp.; U.S. Army Communications- Electronics Command ST: Pennsylvania IN: ARO SU: CON
CC-JS -- PH028 -- 7894 10/08/92 13:14 EDT
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|Date:||Oct 8, 1992|
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