U.S. Navy Selects L-3 for Installation of Undersea Warfare Training Range
NEW YORK--(BUSINESS WIRE)-- L-3 Communications (NYS: LLL) announced today that its MariPro division has been awarded a multi-year contract with a potential value of $127 million, if all options are exercised, to install an Undersea Warfare Training Range off the coast of Jacksonville, Fla., for the U.S. Navy. The scope of this contract includes design, manufacturing and installation of a state-of-the-art undersea warfare training system that will ultimately span 500 square nautical miles.
Phase I of the program will provide the initial infrastructure, including shore facilities and equipment, as well as near-shore cable and seabed sensors to instrument an area of approximately 200 square nautical miles. The second phase of the program will instrument the remaining 300 square nautical miles. The installed system will provide the U.S. Navy with the latest technology to maximize training and testing, particularly in shallow water. The system has a 20-year design life.
"This is an exciting win for our group as we continue to focus our business on priority DoD areas," said Robert E. Leskow, president of L-3's Marine & Power Systems Group. "L-3 is a world leader in ocean bottom acoustic technology systems, and we are committed to the continuous development of these critical technologies as we expand our market position as a specialized player in this arena."
"This award is a strategic win for the development of maritime ranges, a core business area for us," said John Fox, president of L-3's Ocean Systems sector. "We look forward to continuing to enhance the Navy's training capability as we have for many decades, providing the most reliable undersea training technology."
L-3 MariPro, a division of L-3 Marine & Power Systems, provides reliable concept-through-operations marine systems for military, commercial and academic customers, including fixed and portable maritime training range systems, surveillance systems, marine services, reliable acoustic through-water communications and ocean-observing infrastructure. For over 50 years, L-3 MariPro has provided nearly all of the U.S. Navy's currently operational maritime ranges, many of them operating into their third decade, in thousands of meters of water, at various locations around the world. To learn more, please visit the company's website at www.L-3com.com/MariPro.
Comprising 25 operating companies, L-3 Marine & Power Systems (L-3 M&PS) is a worldwide leader in maritime automation and control, navigation, communications, dynamic positioning, and power distribution and conditioning for the U.S. Navy, allied foreign navies and commercial customers worldwide. With over 80 locations in 20 countries, L-3 M&PS is a cohesive, global partner with extensive capabilities and a proven track record in delivering the highest level of technology, service and integration. To learn more about L-3 Marine & Power Systems, please visit its website at www.L-3com.com/MPS.
Headquartered in New York City, L-3 employs approximately 51,000 people worldwide and is a prime contractor in C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and national security solutions. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms.
To learn more about L-3, please visit the company's website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company's website and is readily accessible.
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. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "will," "could" and similar expressions 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 recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
KEYWORDS: United States North America New York
The article U.S. Navy Selects L-3 for Installation of Undersea Warfare Training Range originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.