Exelis Wins $102 Million Australian Navy Contract

McLean, Va.-based Exelis has won a $102 million contract to supply the Royal Australian Navy with Electronic Support Measures (ESM) for its ANZAC frigates and Canberra class landing helicopter dock (LHD) warships.

Exelis describes its ES-3701 ESM as a system designed to detect radar signals emitted from aircraft and other surface ships, improving "situational awareness, targeting, self-protection and surveillance." The company noted further that the system is already being installed on Australia's new Hobart-class Air Warfare Destroyer.

Exelis shares are receiving no boost from the good news, however, falling 0.6% Thursday, to trade around $10.88.

The article Exelis Wins $102 Million Australian Navy Contract originally appeared on Fool.com.

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