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ITT and Thales NL sign SMART-S Mk2 License Agreement

18 December 2007

ITT Corporation and Thales Nederland have signed an exclusive agreement for ITT to build and market the SMART-S Mk2 radar system in the United States.

The license agreement was officially signed earlier this year and the two teams recently met on November 28 for a signing ceremony. ITT Vice President and General Manager Willam Devlin hosted the event at the companies' Gilfillan radar facilities in Van Nuys, California. During the visit the teams toured the ITT factory, discussed opportunities within the US, and participated in an executive seminar on "Lean Six Sigma" implementation in ITT.

The agreement opens the door for Thales to offer the SMART-S Mk2 radar through a US radar company effectively doubling the number of potential SMART-S Mk2 opportunities. "Our business model was to offer a win-win partnership and ITT was very enthusiastic about working with Thales on SMART-S Mk2. ITT believes so much in the product that they have self funded their own Powerbook design ahead on any signed sales contract, " said Frank Biemans. According to William Devlin "This agreement will enable ITT to immediately field another modern product and expand our services to the US Navy, especially on emerging platforms including the Littoral Combat Ship."

Based upon current projections the first US contract for SMART-S Mk2 is anticipated to occur in late 2008 or 2009.

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