TM Systems Awarded $2.1M Contract

Wednesday, March 12, 2003
TM Systems has been awarded a contract worth $2.1 million to supply two Stabilized Glide Slope Indicator (SGSI) systems to National Steel and Shipbuilding Company (NASSCO). The SGSI systems will be used by NASSCO on ships being constructed for the U.S. Naval Sea Systems Command (NAVSEA). These systems are becoming a critical component for the Navy as they allow helicopter pilots to land safely on ships at sea at a time when the Navy needs increased flexibility to engage in military maneuvers from international waters rather than continuing to depend on foreign states to provide landing permissions or allow U.S. military installations. "This important order clearly illustrates TM Systems' superiority in supplying critical parts and systems for the defense sector," said Tom Mills, President and COO of API Electronics. "We believe this contract further validates our decision to acquire TM Systems as well as our belief that the company's product line will continue to be a major growth driver for API going forward." TM Systems will supply the first SGSI system to NASSCO in December 2003. The second system (and spare parts) is scheduled for delivery in July 2004. TM Systems will begin recognizing revenue in March 2003, when progress payments are scheduled to begin. In addition, the contract gives NASSCO an option to purchase an additional $6-million in systems and parts.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Teekay Petrojarl Contracts Damen for FPSO Upgrade

Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion (DSC), has been awarded an EPC contract by Petrojarl I LLC for the upgrade of its FPSO Petrojarl I.

Contract Awarded for US Aircraft Carrier Dismantling

The U.S. Navy awarded a contract, Dec. 22, for the towing and dismantling of the decommissioned aircraft carrier Ranger (CV 61) to International Shipbreaking, Ltd.

EXMAR Orders Second FLNG from Wison

EXMAR NV has placed an order for a second Floating LNG Liquefaction Unit (FLNG) at Wison Offshore & Marine. Under the agreement, Wison will be responsible for the turnkey engineering,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3856 sec (3 req/sec)