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| REMEC Announces $6.0 Million F/A-22 Award From BAE Systems |
SAN DIEGO--(BUSINESS WIRE)--Oct. 21, 2003--REMEC, Inc. (Nasdaq:REMC) today announced that it has been awarded subcontracts totaling $6.0M from BAE Systems in support of the Electronic Warfare system for the F/A-22 Raptor fighter program. REMEC will deliver 20 different types of microwave & RF modular assemblies for a total quantity of 1,624 modules in support of the F/A-22 production program under this order. REMEC module deliveries are scheduled to begin in 2004 and will complete by 2006. The F/A-22 aircraft includes a radar warning receiver and missile launch detector as part of the Electronic Warfare System. The F/A-22 Raptor is the planned United States Air Force (USAF) replacement aircraft for the currently deployed F-15 Eagle air superiority fighter, providing a revolutionary leap in technology and mission capability. The F/A-22 Raptor will provide the USAF complete air dominance for the foreseeable future as it is the most advanced tactical aircraft in the world. Over 280 production aircraft are planned for procurement over the next decade with over 1,000 subcontractors in over 40 states supporting this effort. The F/A-22 project is sponsored by the Aeronautical Systems Center located at Wright Patterson Air Force Base. "The F/A-22 program is an ideal program for insertion of REMEC's advanced, lightweight integrated microwave packaging capability," stated Jack A. Giles, President of the REMEC Defense & Space Group. "This program is in the early stages of production and is expected to continue over the next decade." These subcontracts bring the total defense awards announced this quarter to $38.8 million. This work will be performed by the REMEC Defense & Space Group, with headquarters in San Diego, California. 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 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 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. |