Finmeccanica DRS Technologies new orders to provide equipment to US and Canadian Armed Forces
- USD 100 million contract with General Dynamics for surveillance systems for Canadian Army
- Two IDIQ (Indefinite Delivery, Indefinite Quantity) agreements with the U.S. Navy for a potential ceiling value of about USD 440 million
Rome, 8 April 2015 – U.S. and Canadian Armed Forces choose DRS Technologies systems. The Finmeccanica Company has been awarded three new contracts to provide equipment to the Canadian Army armoured vehicles and to U.S. Navy submarines and vessels.
The first contract, worth USD 100 million, has been signed with General Dynamics Land Systems-Canada and concerns the production of surveillance systems to equip the armoured vehicles LAV 6.0 (produced by General Dynamics) used by the Canadian Army. The eight-year agreement includes the supply of mast mounted, long-range surveillance suites and service support within the Canadian Army LRSS (Light Armoured Vehicle – Reconnaissance Surveillance System) project.
The other two agreements, signed with the U.S. Navy, are IDIQ (Indefinite Delivery, Indefinite Quantity) contracts and have a total potential ceiling value of about USD 440 million. The first order, with a potential ceiling value of USD 384 million, includes development, production and integration of latest generation electronic equipment to modernize systems currently installed on various classes of U.S. Navy submarines. This agreement moves the company into a prime-contractor role with the U.S. Navy and expands DRS’s role as a major submarine combat systems supplier. The other agreement, signed with the U.S. Navy, has a potential ceiling value of USD 55 million and concerns the modernization of integrated voice communications systems (IVCS) for the U.S. Navy AEGIS cruisers and destroyers.
NOTE TO EDITORS:
Finmeccanica is Italy’s leading manufacturer in the high technology sector and ranks among the top ten global players in Aerospace, Defence and Security. Listed on the Milan Stock Exchange (FNC IM; SIFI.MI), in 2014 Finmeccanica generated revenues of about 14 billion Euro. With 273 locations and production facilities in 20 countries, Finmeccanica is a multinational and multicultural group which boasts a significant presence in four domestic markets: Italy, the United Kingdom, the U.S. and Poland. Finmeccanica’s core business activities are in the following sectors: Helicopters (AgustaWestland), Defence Electronics and Security (Selex ES, DRS Technologies), Aeronautics (Alenia Aermacchi). The company also has a significant position in Space (Telespazio, Thales Alenia Space), Defence Systems (OTO Melara, WASS, MBDA) and Transportation (Ansaldo STS, AnsaldoBreda).
DRS Technologies, with headquarters in Arlington, Virginia (USA), is leader in the supply of products, services and integrated support to the armed forces, intelligence agencies and prime contractors around the world. The company operates in the key-technology sectors linked to prime defense requirements: infrared technology, surveillance, combat management, energy technology, satellite networks and communications infrastructure, support and assistance for troops.