DAEDALUS ANNOUNCES MAJOR INTERNATIONAL CONTRACT
DAEDALUS ANNOUNCES MAJOR INTERNATIONAL CONTRACT ANN ARBOR, Mich., Feb. 19 /PRNewswire/ -- Daedalus Enterprises, Inc.
(NASDAQ: DDEI) announced today the receipt of a major international product development contract that has been under negotiation for many months.
The contract was awarded by the National Research Council of Italy and entails the development of a unique new airborne hyperspectral imaging system and an innovative visualization and image processing system to be used to establish a new leading edge remote sensing research center in Italy. Daedalus will be the prime contractor and will develop and produce the airborne hyperspectral imaging system and peripherals. The ground- based visualization and image processing system will be developed and produced by TASC of Reading, Mass., under subcontract to Daedalus. Total value of the new contract is approximately $5 million, with final delivery of all systems in approximately 18 months. Receipt of this contract raises the company's backlog to a record level. Daedalus Enterprises, Inc. is a leading developer and manufacturer of remote sensing instruments used for environmental measurements and monitoring. The company's stock is traded in the over-the-counter market under the symbol "DDEI." -0- 2/19/92 /CONTACT: Vincent J. Killewald, vice president-finance, or Thomas R. Ory, president, Daedalus Enterprises, Inc., 313-769-5649/ (DDEI) CO: Daedalus Enterprises, Inc. ST: Michigan IN: SU: CON
JG -- DE010 -- 0385 02/19/92 11:09 EST
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|Date:||Feb 19, 1992|
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