DRS Technologies Gets Navy Contracts

Defense contractor DRS Technologies Inc. received contracts worth $18.3m to manufacture parts to be used in Navy ships. The contracts, awarded by a subsidiary of defense contractor General Dynamics Corp., are for fan coil assemblies and units to be used in air conditioning systems on guided-missile destroyers. Work for these orders will be performed by the company's DRS Marlo Coil unit in High Ridge, Mo. DRS said it plans to begin work on the contracts in 2008 and continue through 2016. (Source: MSN)