PACIFIC SCIENTIFIC RECEIVES FOLLOW-ON CONTRACT FROM HUGHES AIRCRAFT
PACIFIC SCIENTIFIC RECEIVES FOLLOW-ON CONTRACT
FROM HUGHES AIRCRAFT
NEWPORT BEACH, Calif., July 9 /PRNewswire/ -- Pacific Scientific Co. (NYSE: PSX) today announced that it has been awarded by Hughes Aircraft Co. an order which will provide for the continuing production of electrical power systems for the U.S. Navy's MK48 ADCAP torpedo. The award, with an order value in excess of $10 million, covers the sixth through eighth production phases of the program. The multiyear contract is for 366 shipsets, each consisting of an alternator and a regulator. The MK48 "smart" torpedo, which has its own self-contained computers, is used in anti-submarine warfare.
According to Edgar S. Brower, Pacific Scientific chairman, president and chief executive officer, "We are particularly pleased with the confidence expressed by Hughes in the production capabilities previously demonstrated by Pacific Scientific in producing the MK48 ADCAP torpedo power system." Brower added, "With award of this contract, we are approaching $50 million in total awards for the production of this system."
Pacific Scientific Vice President Richard Knoblock said, "We have enjoyed a long working relationship with Hughes Aircraft on the MK48 ADCAP torpedo since the pre-production phase in 1986. We are currently in production on the fourth phase of the program, which was awarded in June 1990, and will begin production of the fifth phase in September 1992. Production under this new contract will start in mid-1993."
Pacific Scientific designs, manufactures and markets technology- based proprietary products. The principal markets served include factory and office automation, commercial and military aircraft, electrical utilities, semiconductor manufacturers and pharmaceutical companies.
/CONTACT: Joseph Allen of South Coast Communications Group, 714-731-4341, for Pacific Scientific/
(PSX) CO: Pacific Scientific Co.; Hughes Aircraft Co. ST: California IN: CPR ARO SU: CON CH-EH -- LA001 -- 7677 07/09/92 07:34 EDT