L-3 Supplies U.S. Army with Handheld Mine Detectors Valued at $26 Million
NEW YORK--(BUSINESS WIRE)--April 7, 2008--L-3 Communications (NYSE: LLL) announced today that it will provide AN/PSS-14 mine detection systems and accessories to the U.S. Army. This order totals $26 million and represents the fourth full-rate production contract for this product. Since this contract was awarded in 2006, the total value of orders received exceeds $90 million, with an overall anticipated value in excess of $300 million over 10 years.
A pioneering development in handheld countermine technology, the AN/PSS-14 combines ground-penetrating radar and advanced data fusion algorithms with highly sensitive metal detection to identify lethal land mines with vastly increased speed and accuracy. Developed by L-3 CyTerra under the U.S. Army Handheld Standoff Mine Detection System (HSTAMIDS) program, the AN/PSS-14 differentiates live mines from metal debris and clutter with life-saving efficiency.
"The rapid acceptance of this groundbreaking technology by the U.S. Armed Forces demonstrates their confidence in L-3 and an unwavering commitment to utilize the best equipment available to protect our troops in the Middle East and around the world," said Craig Coy, president of L-3's Homeland Security Group. "Mine detection and clearance is an extraordinarily dangerous mission. We are proud to produce a device that will improve the reliability and scope of detection to help save lives."
To learn more about L-3 CyTerra, please visit the company's Web site at www.cyterracorp.com.
Headquartered in New York City, L-3 Communications employs over 64,000 people worldwide and is a prime contractor in aircraft modernization and maintenance, C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2007 sales of $14 billion.
To learn more about L-3, 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," "will," "could" 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 CyTerra
Jim Bergen, 781-697-2505
|Join the GlobalSecurity.org mailing list|