L-3 BT Fuze Products Receives $22 Million 105mm Ammunition Contract from the U.S. Army
NEW YORK, NY, March 19, 2007 – L-3 Communications (NYSE: LLL) announced today that its BT Fuze Products (L-3 BT Fuze) division has been selected by the U.S. Army Armament Research, Development and Engineering Center (ARDEC) to produce 105mm M1040 Canister Cartridges under a $22 million firm-fixed-price contract. The multi-year contract consists of one base year and four option year awards and work is expected to be completed by July 31, 2011.
The award of the M1040 contract complements the M393A3 HEP-T 105mm and M467A1 TP-T 105mm cartridge work currently underway by L-3 BT Fuze for the U.S. Army. With the addition of the M1040 Canister round, L-3 BT Fuze has further secured its position as a provider of Large Caliber ammunition in support of the Project Manager for Maneuver Ammunition Systems (PM-MAS) and the U.S. Army's Stryker Mobile Gun System (MGS).
“This is a major award for our division, further expanding our product portfolio and helping us diversify beyond our traditional role as an ammunition fuzing provider,” said Joe Homko, President of L-3 BT Fuze.
The M1040 is an anti-personnel round that will provide the Stryker MGS with the capability to effectively provide rapid, lethal fire against massed assaulting infantry at close range. The M1040 Canister round has received type classification and material release.
L-3 BT Fuze is an ordnance systems manager, a premier designer and a manufacturer of fuzing for the U.S. and its allies, providing a broad array of electronic time, point-detonating and self-destruct fuzes. Additionally, L-3 BT Fuze assists its international allies with plant design for their in-country armament infrastructure.
To learn more about L-3 BT Fuze Products, please visit the company's web site at www.L-3Com.com/ btfuze.
Headquartered in New York City, L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services. The company is a leading merchant supplier of a broad array of high technology products, including guidance and navigation, sensors, scanners, fuzes, data links, propulsion systems, simulators, avionics, electro optics, satellite communications, electrical power equipment, encryption, signal intelligence, antennas and microwave components. L-3 also supports a variety of Homeland Security initiatives with products and services. Its customers include the Department of Defense, Department of Homeland Security, selected U.S. Government intelligence agencies and aerospace prime contractors.
To learn more about L-3 Communications, please visit the company's web site at www.L-3Com.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
CONTACT: L-3 Communications Cynthia Swain, 212-697-1111 Vice President, Corporate Communications Or Financial Dynamics Investors: Eric Boyriven / Alexandra Tramont, 212-850-5600 Or Media: Evan Goetz, 212-850-5600
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