DRS Announces $8 Million in Orders from Tesco Corp.
DRS Technologies Inc. today announced orders valued in excess of $8 million from Tesco Corp. of Calgary, Alberta, Canada, for high-performance, lightweight permanent magnet motors and electric drives to be used in oil and gas drilling applications.
For the orders, DRS will produce its permanent magnet PA44 Motors and MD500 Motor Drives to support Tesco's equipment. Work will be accomplished by the company's DRS Power Technology unit, located in Hudson and Fitchburg, Mass. Delivery of the equipment is expected to be completed by March 2007.
"Our PA44 motors have logged more than 400,000 drilling hours in locations around the world," said Roger N. Sexauer, president of DRS's Power Systems. "These new orders strengthen our commercial base as a leading designer and manufacturer of high-performance, lightweight, permanent magnet electric motors and drives."
The DRS motors and drives supporting the orders are rugged, lighter weight and approximately 50 percent smaller than comparable electric motors. They also provide superior control of the drill strings. They are designed to perform in extremely cold, high-humidity, heavy-load and high-shock environments of drill sites from the Canadian Rockies to the Indonesian jungles.
Tesco Corporation markets deep-well drilling equipment to many of the major drilling companies in the oil and gas industry.
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((Distributed via M2 Communications Ltd - http://www.m2.com))
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|Date:||Oct 10, 2006|
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