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DRS Technologies Awarded Contract

Mar-22-2004 » Filed Under: General Military

[Link to Full Article]

PARSIPPANY, N.J.--(BUSINESS WIRE)--March 22, 2004--DRS Technologies, Inc. (NYSE:DRS) announced today that it was awarded a $24.3 million subcontract to provide major subsystems for the U.S. Army's Long Range Advanced Scout Surveillance System (LRAS3). LRAS3 provides the U.S. Army Brigade Reconnaissance Troops, Armor and Infantry Battalion Scout Platoons, and the Stryker Brigade Combat Teams (SBCT) with a long-range detection, recognition, identification and far-target location capability.

The contract was awarded to DRS by Raytheon Company's (NYSE:RTN) Network Centric Systems business in McKinney, Texas. The company's DRS Optronics unit in Palm Bay, Florida, will perform all work associated with the award at its state-of-the-art electro-optical design and production facilities. Product deliveries are expected to commence in May and continue through May 2005. Including the latest award, DRS received more than $88 million in orders on the LRAS3 program.

LRAS3 provides heavy battalion, Light Cavalry Squadron and IBCT Scouts with the capability to conduct 24-hour surveillance and reconnaissance missions at a safe distance outside the acquisition and engagement ranges of the threat. These Long Range Advanced Surveillance Systems are expected to bridge the gap between currently fielded systems and the U.S. Army's Future Combat System (FCS).

(Thanks to Lorraine for the link)


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