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| EOS Wins Weapon System Contract for Holland |
Electro
Optic Systems Holdings Limited (ASX:EOS) is pleased to announce
that it has won
an order to supply remote weapon systems for use by the Netherlands
Army. The contract
was awarded to EOS by Thales Australia for fitting to Bushmaster
Infantry Mobility
Vehicles manufactured by Thales for the Netherlands Army.
The contract is valued at $AUD5.8 million, and will be fulfilled
by EOS within 60 days using
production facilities in Australia and the USA.
The remote weapon systems to be provided by EOS enable a weapon
to be fired quickly
and accurately by a gunner from inside a vehicle. Thales Australia
is responsible for the
integration of the weapon systems onto the Bushmaster vehicle, and
delivery of the
completed systems to the Netherlands. The weapon system selected
by the Netherlands
is identical to equipment provided to the US and Australian armies
who have deployed
hundreds of systems to Iraq and Afghanistan. EOS is delivering 450
systems to the US
Army under the CROWS program.
Announcing the order, EOS CEO, Dr Ben Greene said:
"This contract represents a breakthrough for EOS. It is the
first open procurement by a
NATO country of this technology, and our first sale of any kind
to a NATO country. It
signals EOS’ market entry into the NATO and European markets.
The award was made
after an international competition, and extensive testing and qualification
by the
Netherlands and Thales."
"EOS’ success again demonstrates the market strength
of EOS and its industry partners in
one of the fastest-growing markets for military technology. In competitive
procurements
over the past 12 months EOS has faced intense international competition,
but no program
so far contested by EOS has been awarded to another company."
"A key sub-contractor to EOS on this program is Recon Optical
Inc., an Illinois (USA)
company which is also collaborating closely with EOS in the US Army
CROWS program,
where Recon is prime contractor. Recon and EOS are currently producing
remote weapon
systems for the CROWS program under contract arrangements which
expire in late 2007.
EOS has previously announced it is collaborating with Recon for
a new multi-year US
Army order that, if won, could exceed AUD$110 million in annual
revenue for EOS."
"The award for the Netherlands Army further demonstrates the
strong market position of
EOS and its international partners in the rapidly-expanding market
for remote weapon
systems. EOS now has a strong presence in remote weapon programs
in the USA, Asia
and Europe, where orders exceeding AUD300 million are expected to
be placed in the 12
months ending 31 December 2007."
"EOS expects to maintain its competitive position and market
share through ongoing
investments in technology and high-quality production, and by forging
further strategic
relationships with key partners in each market."
Further information:
Dr Ben Greene: +61 2 6222 7901
www.eos-aus.com
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