United Industrial's AAI Corporation Receives Unmanned Systems Contracts
17 10월 2006 - 7:00AM
PR Newswire (US)
HUNT VALLEY, Md., Oct. 16 /PRNewswire-FirstCall/ -- United
Industrial Corporation (NYSE:UIC) announced today that its AAI
Corporation defense subsidiary has received three significant
orders from the U.S. Army for production, refurbishment, and repair
of equipment for Shadow(R) 200 Tactical Unmanned Aircraft Systems
(TUAS). Total potential value of the three orders is $102.6
million, with $57.7 million funded immediately. -- The first order
is a not-to-exceed contract for five RQ-7B Shadow 200 systems, the
Army's latest and most advanced fielded TUAS. The award commits
$32.6 million to production now, with up to an additional $30.9
million added by the first quarter of 2007. -- The second contract,
with a potential value of $27.6 million, authorizes initial funding
of $13.5 million and calls for the purchase of component equipment,
including an upgrade of the electro- optical/infra-red payload
equipment to the newest POP-300 configuration for the existing
fleet of Shadow aircraft, additional engines for fleet retrofit,
and enhancement of One System(R) ground control stations to a
single configuration, consistent with the current production
baseline. Additional funding is expected by the first quarter of
2007. -- The third order, issued as a fully funded, not-to-exceed
contract for $11.5 million, authorizes repair and refurbishment of
Shadow systems used in support of Operation Iraqi Freedom (OIF) and
the Global War on Terrorism. "The Shadow has proven itself to be an
outstanding asset to U.S. forces," said United Industrial and AAI
President and Chief Executive Officer Frederick M. Strader. "Shadow
systems are making major contributions in Iraq and Afghanistan,
providing brigade commanders with critical intelligence and
superior situational awareness." "With these latest contracts,"
Strader added, "the Army and AAI are building on the system's
capabilities to ensure that Shadow will continue to support U.S.
and allied warfighters for many years to come." In addition to the
production and upgrade of Shadow systems, AAI provides
performance-based logistics support and sustainment operations for
fielded and deployed U.S. Army TUAS units. Since December 1999,
when the U.S. Army selected AAI to be its TUAS prime contractor,
the company has been awarded a series of annual production
contracts now totaling 70 Shadow systems. Fifty-one systems have
been delivered to the customer, and system deliveries from backlog
now extend through September 2008. Work will be performed at AAI's
manufacturing facilities in Hunt Valley, Md. Worldwide, Shadow
systems have flown more than 33,900 missions in excess of 129,000
flight hours - more than 85 percent in support of U.S. and allied
operations in OIF and Operation Enduring Freedom. In addition to
the Shadow 200, AAI manufactures a number of other unmanned
aircraft systems and is recognized for its design and development
of advanced ground control stations and interoperable network
technologies. The company has delivered a variety of aircraft
systems to allied armed forces. Furthermore, AAI manufactures
Aerosonde unmanned aircraft systems for an array of military and
civil aviation uses. Customers include the Australian Defence
Science and Technology Organisation, NASA and the National Oceanic
and Atmospheric Administration in the United States, and the
Meteorological Institutes of Japan and Korea. AAI's One System
ground control station is compatible and interoperable with
multiple unmanned aircraft systems, including Shadow, Pioneer(R),
Hunter, Warrior(TM), Fire Scout, Eagle Eye, and Aerosonde.
Commonality will reduce future training and operating costs for
U.S. and allied armed forces. United Industrial Corporation
designs, produces, and supports defense systems. Its products and
services include unmanned aircraft systems, training and simulation
systems, automated aircraft test and maintenance equipment,
armament systems, logistical and engineering services, and other
leading-edge technology solutions for defense needs. The company
also manufactures combustion equipment for biomass and refuse
fuels. For more information, visit http://www.unitedindustrial.com/
and http://www.aaicorp.com/. Except for the historical information
contained herein, information set forth in this news release may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Words such as
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and variations of such words and similar expressions
that indicate future events and trends are intended to identify
such forward-looking statements, which include, but are not limited
to, projections of revenues, earnings, segment performance, cash
flows, and contract awards. These forward-looking statements are
subject to risks and uncertainties, which could cause the company's
actual results or performance to differ materially from those
expressed or implied in such statements. The company makes no
commitment to update any forward-looking statement or to disclose
any facts, events, or circumstances after the date hereof that may
affect the accuracy of any forward-looking statement. For
additional information about the company and its various risk
factors, please see the company's most recent annual report on Form
10-K as filed with the Securities and Exchange Commission.
DATASOURCE: United Industrial Corporation CONTACT: IR Contact:
Stuart F. Gray, +1-410-628-8686 or ; or Media Contact: Sharon C.
Corona, +1-410-628-3184 or , both of AAI Corporation Web site:
http://www.unitedindustrial.com/ http://www.aaicorp.com/ Company
News On-Call: http://www.prnewswire.com/comp/113559.html
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