August 23, 1999:
L-3 Communications Wins Sonar Contract From Agusta
NEW YORK, USA ( L-3 Communications Press Release ) -
L-3 Communications announced that it has signed a design and development phase contract for its Helicopter Long Range Active Sonar (HELRAS) for Agusta (a Finmeccanica-owned company).
The initial funding is valued at $7.5 million this year, with the potential of $50 million.
HELRAS was selected as the basis of the SONICS system for the four-nation (France, Germany, Italy and The Netherlands)
Agusta is the prime contractor for the NATO Frigate version of the NH-90.
``This is the first contract award for our new, state-of-the-art HELRAS technology,'' said Steven T. Schorer, president of L-3 Communications Ocean Systems. ``We are very pleased that Agusta has recognized the superiority of our technology and selected it for their helicopter fleet.''
Mr. Schorer noted that HELRAS is the highest performance helicopter dipping sonar in the world, offering long-range deep and shallow water capability against extremely quiet, small diesel electric submarines. The system has been successfully demonstrated in sea tests conducted by the US Navy, Royal Australian Navy, German Navy, Italian Navy and Royal
Norwegian Navy in waters ranging from the Timor Sea, Mediterranean, Atlantic and Pacific Oceans and the North Sea to the Vestfjorden.
The SONICS system is offered by the EUROSONAR consortium, led by Whitehead Alenia Sistemi Subacquei (WASS), a Finmeccanica-owned company. Also part of the consortium are L-3 Communications ELAC Nautik of Germany; SP Aerospace of The Netherlands; STORK Fokker Elmo of the Netherlands; and L-3 Communications Ocean Systems. Additional subcontractors will provide the technology to add Sonobuoy capability to the NH-90 SONICS system.
L-3 Communications Ocean Systems, located in Sylmar, California, is one of the world's leading suppliers of acoustic undersea warfare systems for a wide range of platforms, including helicopters, submarines and surface ships.
L-3 Communications is a leading merchant supplier of secure communications systems and products, avionics and ocean systems, microwave components and telemetry, instrumentation, space and wireless products. Its customers include the Department of Defense (DoD), U.S. government intelligence agencies, aerospace and defense prime contractors and commercial telecommunications and cellular customers.
To learn more about L-3 Communications, please visit the company's website at www.L-3Com.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters set forth in this news release are forward- looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement,
including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-looking Statements included in the company's final prospectus, dated February 4, 1999, which discussion is incorporated herein by this