Wednesday, September 19, 2007
NEW YORK, Sep. 19, 2007 (Business Wire) -- On September 14, the Department of Defense announced that EDO Corporation (NYSE: EDO) has received orders for 2,250 additional 'CREW 2.1' vehicle-mounted electronic jammers, to be delivered by April 2008. The systems will be used by forces in each of the military services of the Central Command Area of Responsibility.
This fixed-price award of $172 million is for the EDO model known as the CVRJ (CREW Vehicle Receiver/Jammer) system. CREW is an acronym for an electronic warfare system that counters radio-controlled improvised explosive devices. This award is in addition to the 4,100 CVRJ units and the 1,100 MMBJ (Mobile Multi-Band Jammer) units ordered earlier this year.
In making this award, the Naval Sea Systems Command and the Program Executive Office for Littoral and Mine Warfare exercised options included in the original contract competitively awarded to EDO on April 6. That contract includes options for up to 10,000 units. On September 7, the Department of Defense announced their intention to award an additional contract with options for up to 15,000 units.
'We are fully prepared, along with our component suppliers, to accelerate production to meet the urgent and compelling need for this equipment,' said James M. Smith, EDO's chief executive officer. 'We are also prepared to open production lines in multiple EDO facilities, should the government increase the ceiling of this contract.'
EDO Corporation (www.edocorp.com) designs and manufactures a diverse range of products for defense, intelligence, and commercial markets. Major product groups include: Professional and Engineering Services, Defense Electronics, Communications, Aircraft Armament Systems, Undersea Warfare, and Integrated Composite Structures. EDO's advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities.
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