Radix Marine Signs Contract to Build Prototypes

Wednesday, August 18, 2004
Radix Marine, Inc., a marine vessel development company specializing in port and homeland security and defense initiatives, signed a contract to build two prototype manned vessels with a marine technology company, Advanced Marine Concepts, formed by Philip Whitener, a retired Boeing test engineer and Eric Anderson, CEO of Art Anderson Associates. The boats will be built in Radix Marine's new manufacturing facility, making them the first such orders to be produced by the facility.

The prototype vessels are for a proprietary project being developed by Advanced Marine Concepts, and will use patented technology designed by the firm. Production on the vessels, codenamed "Dragonfly," will begin immediately. According to Advanced Marine Concepts, the Dragonfly prototype will demonstrate new ultra high efficiency technology for high-speed passenger and car ferries. The design combines surface effect ship and hydrofoil technologies. This is the third in a series from Radix Marine on its continuing move to build its in-house manufacturing capabilities. Earlier this month, the company acquired the equipment and facility for its own manufacturing plant -- the first of its own. The company plans to use the new facility primarily to support research and development, such as that represented by the contract with Advanced Marine Concepts, while continuing to outsource other areas of manufacturing. "This is exactly the type of order we envisioned when we made the decision to add our own manufacturing plant," said Kathy Bright, president and CEO of Radix Marine.

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