DRS Technologies Receives $120 Million Army Order
April 17, 2009 (FinancialWire) — Finmeccanica S.p.A.’s (OTC: FINMF) DRS Technologies, Inc. unit said it has received a $120 million order from the U.S. Army for thermal weapon sight bridge systems to be used by U.S. military forces.
The order is a follow-on to an existing five-year, $2.3-billion indefinite delivery indefinite quantity bridge contract the U.S. Army awarded to DRS in 2007. Orders against the contract now exceed $230 million, according to DRS.
DRS said that the product named in the order, it TWS II Bridge line of light-, medium- and heavy-weapon sights, offer uncooled thermal imaging sensors that enable warfighters to see through darkness, smoke, dust, fog, and degraded weather conditions.
Company president Terry Murphy said it is delivering the systems “on schedule and at rates growing beyond 2,000 systems per month.”
The systems are currently deployed by the U.S. Army, Marine Corps, Air Force and Special Operations forces.
Parsippany, New Jersey-based DRS Technologies is a supplier of products, services and support to military forces, intelligence agencies and prime contractors.
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