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| REMEC Announces $20.3 Million F/A-22 LRIP Award From Northrop Grumman |
SAN DIEGO, Sep 22, 2003 (BUSINESS WIRE) -- REMEC, Inc. (Nasdaq: REMC) today announced that it has been awarded subcontracts totaling $20.3 million from Northrop Grumman Corporation's (NYSE:NOC) Space Technology sector in support of the integrated communications, navigation and identification (CNI) system for the U.S. Air Force's F/A-22 Raptor fighter program. REMEC will deliver 17 types of microwave and RF modular assemblies for a total of 5,564 modules in support of the F/A-22 Low Rate Initial Production (LRIP) program for the next two years. REMEC module deliveries began in 2003 and are scheduled to complete in September 2005. The F/A-22 Raptor is the planned Air Force replacement aircraft for the F-15 Eagle air superiority fighter, providing a revolutionary leap in technology and mission capability. By combining stealth design with supersonic flight, high maneuverability with dual engines, the F/A-22 can be configured for either air-to-air or air-to-ground missions, both with lethal results. The F/A-22 Raptor will provide the Air Force complete air dominance for the foreseeable future as it is the most advanced tactical aircraft in the world. More than 280 production aircraft are planned for procurement over the next decade, with more than 1,000 subcontractors in more than 40 states supporting this effort. "The F/A-22 program is critical in maintaining the U.S. air advantage for future armed conflicts that may arise," Jack A. Giles, president of REMEC Defense & Space, stated. "We are proud to be a supplier on the F/A-22 team by providing our advanced integrated microwave technology for the CNI, Radar, and Electronic Warfare avionics systems. This program award will add important manufacturing jobs to the San Diego regional area." About REMEC: REMEC provides design and manufacture of microwave and millimeter wave subsystems used in the transmission of voice, video and data traffic over wireless communications networks and provides advanced microwave subsystem solutions for defense and space electronics applications. REMEC is located at 3790 Via de la Valle, Del Mar, CA 92014. For more information, visit the company's Web site at http://www.remec.com or call 858-505-3713. Statements in this press release that are not historical are forward-looking statements, which involve known and unknown risks and uncertainties. Actual results could differ materially from those implied by such forward- looking statements due to a variety of factors, including, general and industry economic conditions, competition, development factors, operating costs and other risks and uncertainties that are detailed from time to time in our filings with the Securities and Exchange Commission. REMEC is a registered trademark of REMEC, Inc. Other brand or product names are registered trademarks or trademarks of their respective holders. (C) REMEC, Inc., 2003. All rights reserved. SOURCE: REMEC, Inc. CONTACT: |