Raytheon, U.S. Navy Sign $259.9m Contract
Raytheon Company (NYSE:RTN) is being awarded a $259.9m U.S. Navy contract to overhaul and upgrade 57 Phalanx Close-In Weapon Systems and to provide ancillary equipment, spares, as well as additional technical support. The agreement calls for 40 sea-based Phalanx systems and 17 Centurion Land-Based Phalanx Weapon Systems. Phalanx is a rapid-fire, computer-controlled radar and 20 mm gun system that automatically acquires, tracks, and destroys enemy threats that have penetrated all other ship defense systems. More than 890 systems have been built and deployed in the navies of 25 nations. Centurion LPWS defends ground forces and high value sites against rocket, artillery and mortar attacks. Twenty-two have been delivered to the U.S. Army and 10 to the United Kingdom's Ministry of Defence.
OSI Geospatial Signs $29m Contract to Deliver W-AIS Systems
OSI Geospatial Inc. (OSI) announced that its international systems business has now signed the prime contract with the United Kingdom Ministry of Defence to deliver Warship Automated Identification Systems (W-AIS). On November 2, 2006, the company announced its selection as the preferred bidder for a contract valued at approximately US$29 million, including all options. The company will begin delivery immediately and will recognize a portion of the revenue from this contract in fiscal 2006. The U.K. Royal Navy W-AIS will be installed in platform Operations and Control Rooms and integrated into the Warship Electronic Chart Display and Information System (WECDIS) located on the bridge of the naval ship.
