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Textron Marine & Land Systems Awarded Armored Security Vehicle Reset Contract

Dépèche transmise le 12 octobre 2011 par Business Wire

NEW ORLEANS--(BUSINESS WIRE)--Textron Marine & Land Systems, an operating unit of Textron Systems, a Textron Inc. (NYSE: TXT) company, announced today that it has been awarded a competitive contract by the United States Army Tank-automotive and Armaments Command (TACOM) to reset 392 M1117 Armored Security Vehicles (ASV). The base contract value is $19.8 million but could expand with the exercise of two option years and for emergent work, depending on the condition of vehicles inducted into the program.

“We value the trust our Army customer has in our team to apply its knowledge and experience in getting these ASVs back into the hands of our Soldiers as quickly and efficiently as possible”

The Reset Program, administered by TACOM Life Cycle Management Command, is designed to reverse the effects of combat stress on ASVs while also giving the Army, if desired, the ability to apply vehicle survivability, safety and mobility enhancements. The program’s objective is to return these ASVs to fully mission-capable, combat-ready assets, regardless of their current condition. Work will be performed at Textron Marine & Land Systems in New Orleans.

There are two one-year contract options—option year one includes work on an additional 225 vehicles, and option year two involves work on another 167 ASVs. If both options are exercised, reset activities could continue through August 2014.

In 2008, Textron Marine & Land Systems, in collaboration with Red River Army Depot, executed a six vehicle ASV reset pilot program for TACOM. In 2010, Textron successfully refurbished an additional 12 ASVs.

“We value the trust our Army customer has in our team to apply its knowledge and experience in getting these ASVs back into the hands of our Soldiers as quickly and efficiently as possible,” said Textron Marine & Land Systems Senior Vice President and General Manager Tom Walmsley.

“As the result of our initial ASV reset work, we’ve developed a comprehensive set of procedures, tooling and test equipment for M1117 vehicles. These resources, together with personnel uniquely qualified to apply lessons learned from ASV production and reset efforts, decreases execution risk, and reduces overall program costs for the Army,” added Walmsley.

Textron Marine & Land Systems has delivered 3,327 M1117 ASVs to the U.S. Army, as well as related vehicles to military and police forces in Iraq, Colombia and Bulgaria. These vehicles have consistently achieved exceptional operational readiness and combat availability rates greater than 90 percent over the life of the U.S. Army program. Through September of this year, Textron Marine & Land Systems also has achieved 73 consecutive months of on-time ASV deliveries to the U.S. Army.

Current U.S. Army ASV missions include Military Police operations in support of convoy protection, checkpoint security, perimeter security and reconnaissance, as well as Field Artillery Combat Observation and Lasing Teams (COLT) with the M1200 Armored Knight configuration.

About Textron Marine & Land Systems

Textron Marine & Land Systems designs, produces and supports advanced wheeled combat vehicles and cutting-edge maritime craft used by U.S. and international armed forces, as well as civilian entities around the globe. Its family of Armored Security Vehicles offers enhanced survivability and highly mobile combat security vehicles with unmatched capabilities. Textron Marine & Land Systems’ innovative turret technology and related subsystems also deliver outstanding performance and reliability. Its strategic business, MillenWorks, operates an Engineering Center of Excellence with a reputation as a highly sought-after solution center, which designs and develops advanced mobility solutions for demanding on- and off-road applications. Textron Marine & Land Systems is an operating unit of Textron Systems. More information is available at www.textronmarineandland.com.

About Textron Systems

Textron Systems has been providing innovative solutions to the defense, homeland security and aerospace communities for more than 50 years. Headquartered in Wilmington, Mass., the company is known for its unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment and operational services. Textron Systems includes AAI Logistics & Technical Services, AAI Test & Training, AAI Unmanned Aircraft Systems, Advanced Systems, Aerosonde, ESL Defence, Lycoming Engines, Medical Numerics, MillenWorks, Overwatch, Textron Defense Systems and Textron Marine & Land Systems. More information is available at www.textronsystems.com.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the following:

• Changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries;
• Our ability to perform as anticipated and to control costs under contracts with the U.S. Government;
• The U.S. Government’s ability to unilaterally modify or terminate its contracts with us for the U.S. Government’s convenience or for our failure to perform; and
• The risk that contract options will not be exercised.