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Article: Offshore Systems Announces Canadian Navy Contract for Submarine Navigation Systems.
- Article from:
- Business Wire
- Article date:
- April 1, 2003
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Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--April 1, 2003
Offshore Systems International Ltd (OSI) (OTCBB:OFSYF)(TSX:OSI), announced that its Systems Division, Offshore Systems Ltd. (OSL), has received a contract from the Canadian Navy to develop submarine navigation systems for deployment on the Canadian Navy's Victoria Class Navy submarines.
"We're very proud that the Canadian Navy has come to us with this challenging requirement," said John Jacobson, President and CEO of OSI. "Submarine navigation is complex as the boat has no contact with GPS satellites when it's submerged, and because the navigation hazards change as it ...