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| REMEC Announces $2.7 Million Integrated Defensive Electronic Countermeasure System Low Rate Production Award |
SAN DIEGO--(BUSINESS WIRE)--Oct. 20, 2003--REMEC Inc. (Nasdaq: REMC) today announced that it has received a $2.7 million Low Rate Initial Production (LRIP) award for Integrated Microwave Assemblies (IMA's) for the Integrated Defensive Electronic Countermeasure System (IDECM) from ITT Industries. This award is the third LRIP release for IMA's in support of approximately 17 IDECM systems. Under the current release, REMEC will build 208 IMA's which are scheduled to commence delivery in 2004 with completion scheduled in 2005. The AN/ALQ-214 RF Countermeasures System was developed by ITT Industries for BAE Systems in support of the Navy's IDECM Program. The ALQ-214 provides on-board electronic defensive countermeasures against radio frequency threats through the incorporation of high sensitivity receivers and transmitters. "We are proud to continue in our support of providing advanced integrated microwave technology to help enable the F/A-18 E/F Super Hornet electronic warfare system to provide self-protection capability to our pilots," stated Jack A. Giles, president of REMEC's Defense & Space Group. This work will be performed by the REMEC Defense & Space Group with headquarters in San Diego. The REMEC Defense & Space Group employs over 1,000 people developing and producing advanced microwave products for defense, space and avionics systems for radar, electronic warfare, communication, navigation and identification purposes. 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 statement, 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 filing 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.
CONTACT: SOURCE: REMEC Inc. |