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Article: DRS Technologies Awarded U.S. Navy Contract to Produce Radar Systems for Surface Ships; Multi-Year Contract Valued at $24 Million, Including Options.
- Article from:
- Business Wire
- Article date:
- April 15, 2003
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Business Editors
PARSIPPANY, N.J.--(BUSINESS WIRE)--April 15, 2003
DRS Technologies, Inc. (NYSE: DRS) announced today that it has been awarded a multi-year U.S. Navy contract with a maximum value of approximately $24 million to provide AN/SPS-67(V)3 Surface Search Radar Systems, engineering support services and installation kits for the Navy's new DDG-51 Aegis class combatants.
The initial $7.7 million contract was awarded to DRS by the Naval Sea Systems Command (NAVSEA) in Washington, D.C. Work for this award will be performed by the company's DRS Technical Services unit in Chesapeake, Virginia, DRS Electronic Systems unit in Gaithersburg, ...