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L-3 Wins Contracts Worth $52 Million for U.S. Navy LCAC Service Life Extension Program

Dépèche transmise le 2 avril 2012 par Business Wire

L-3 Wins Contracts Worth $52 Million for U.S. Navy LCAC Service Life Extension Program

NEW YORK--(BUSINESS WIRE)--L-3 Communications (NYSE: LLL) announced today that its L-3 Unidyne division has been awarded two firm-fixed-price contracts valued at $52 million to execute the U.S. Navy’s FY11 and FY12 Service Life Extension Program (SLEP) efforts for the Landing Craft Air Cushion (LCAC). The awards include provisions for additional work, which if exercised, would bring the total value of the contracts to approximately $64 million. Work will be performed both in Virginia Beach, Va., and Camp Pendleton, Calif., and is expected to be completed by February 2014.

“Having already successfully completed 15 LCAC SLEP availabilities it is tremendously gratifying to again be able to assist in breathing new life into these vital ship-to-shore mobilization assets.”

The LCAC SLEP scope of work includes repair and upgrade of the buoyancy box, gas turbine engine replacement, installation of a new skirt and an integrated C4N equipment package, as well as select craft alterations and repair work.

“This is a significant competitive new business win for us – the L-3 team is extremely pleased to be selected to upgrade the U.S. Navy’s amphibious connectors,” said John Greene, president of L-3’s Marine Service Sector. “Having already successfully completed 15 LCAC SLEP availabilities it is tremendously gratifying to again be able to assist in breathing new life into these vital ship-to-shore mobilization assets.”

The purpose of the LCAC SLEP is to extend the platform’s service life for another decade, increasing its life expectancy to 30 years by sustaining and enhancing craft capability, replacing obsolete electronics, repairing corrosion damage, increasing survivability and establishing a common configuration baseline.

L-3 Unidyne, a division of L-3 Marine & Power Systems, is located in Norfolk, Va., and provides cutting-edge engineering, analytical, technical and industrial support services for DoD maritime activities and related commercial businesses.

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 61,000 people worldwide and is a prime contractor in C³ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2011 sales of $15.2 billion.

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.