SubscribeDRS Technologies, Inc. (NYSE: DRS) announced today that it was awarded several new contracts with a combined value of approximately $40 million to design and produce power conversion, distribution and control equipment for next-generation and existing classes of U.S. Navy combatant surface ships and submarines.
The contracts were awarded to DRS by various U.S. Navy shipyards and prime defense contractors. For these orders, DRS will design, manufacture and test advanced instrumentation and control equipment, power distribution components and power conversion equipment for low- and medium-voltage shipboard electric plants supporting U.S. Navy combatant submarines and surface ships.
Work for these contracts will be performed by the company’s DRS Power & Control Technologies unit in Milwaukee, Wisconsin, and Danbury, Connecticut. Design work and product deliveries have commenced in the company’s current fiscal quarter and are expected to be completed in fiscal 2007.
"These new orders sustain our strategic intent to become a full-line supplier of comprehensive shipboard electric power plants systems and all associated integration and support services for new and updated legacy fleets," said Steven T. Schorer, president of DRS’s C4I Group. "As a leading supplier of power systems to the U.S. Navy shipbuilding industry, DRS remains a major participant in shaping the future of the Navy’s high-performance integrated electrical systems. Through these and other contracts, the company’s ship propulsion, power control, conversion and distribution systems will continue to be key elements of current and future classes of surface and submarine combatants."
Vital to supporting shipboard propulsion, machinery, power control and low- and medium-voltage distribution systems for current and future classes of Naval ships and submarines, the company’s equipment is integral to the control of main propulsion and ship auxiliaries, and integrates advanced monitoring and controls across the electric plant.
DRS’s equipment will facilitate realization of the U.S. Navy’s vision of an electric warship utilizing a common ship power system architecture that can transfer electric power from propulsion and ship service systems to advanced electric weapons, sensors and countermeasures. The company’s integrated power systems equipment will provide increased efficiency, reliability and commonality of an electric ship architecture, which will lead to new stealthier hull forms, reduced reliance on logistics, larger payload capacity and reduced crew sizes. Development of the electric warship will provide an affordable leap-ahead capability, allowing U.S. Navy forces to maintain technical superiority in the 21st century.
DRS is a leading supplier of high-performance power generation, conversion, electric propulsion and distribution equipment, networks, control systems, tactical displays and specialty nuclear reactor plant instrumentation for the U.S. Navy’s combatant fleet and specialized industrial customers. The company has installed equipment on every U.S. Navy combatant ship since World War II, including nuclear-powered and conventionally-powered ships.
DRS Technologies, headquartered in Parsippany, New Jersey, provides leading edge products and services to defense, government intelligence and commercial customers. Focused on defense technology, DRS develops and manufactures a broad range of mission critical systems. The company employs 5,800 people worldwide.
