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ITT Extends Counter-IED Leadership with JCREW 3.3 Phase III Contract - The U.S. Naval Sea Systems Command has exercised the third option of the Joint Counter Radio-Controlled Improvised Explosive Device Electronic Warfare (JCREW) 3.3 contract and has awarded ITT the development of this next generation counter-IED system
ITT Extends Counter-IED Leadership with JCREW 3.3 Phase III Contract

 

PRZOOM - /newswire/ - Clifton, NJ, United States, 2010/12/16 - The U.S. Naval Sea Systems Command has exercised the third option of the Joint Counter Radio-Controlled Improvised Explosive Device Electronic Warfare (JCREW) 3.3 contract and has awarded ITT the development of this next generation counter-IED system. NYSE: ITT

   
 
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ITT is the sole recipient of the contract option which is valued at $29 million.

JCREW 3.3 is a System of Systems (SoS) that enables the networking of several jammers to address threats in a more efficient and strategic way. The SoS includes devices that are man-portable, vehicle-mounted and fixed site (for installations such as military bases) that all work together to prevent the detonation of IEDs. ITT will develop all three capabilities under this contract.

As the IED threat continues to evolve, the SoS is designed to be flexible and features data collection and networking functions to provide improved situational awareness to U.S. and allied forces while enabling new reconnaissance, signals intelligence and electronic attack capabilities. Its open architecture and modular design includes enhanced performance beyond the sum capability of the currently fielded systems.

In Phases I and II of the competition, ITT and Northrop Grumman both produced designs for JCREW 3.3. Phase III of the program marks the U.S. government's decision to execute an option to complete the final design of the SoS.

"ITT's leadership in counter-IED technology is built upon multiple decades of operational CREW and tactical battlefield communications experience demonstrated by our production and deployment of more than 30,000 CREW systems, including the first ground-mobile and man-portable systems, and more than 500,000 tactical radios," said Chris Bernhardt, president of ITT's electronic systems business. "We are committed to leveraging this experience to develop a more capable counter-IED solution to help our customers achieve their mission more safely and effectively."

ITT provides JCREW 2.1 systems for use by all four branches of the military: Army, Navy, Air Force and Marines, specialized systems for U.S. Special Operations Command (SOCOM), and was awarded the production contract for JCREW 3.2 vehicle-mounted systems in August 2010.

ITT Electronic Systems is a leading supplier of information and electronic warfare (EW) technologies, systems and services that enable mission success and survivability. Key technologies include integrated EW systems for a variety of aircraft, reconnaissance and surveillance systems for air and sea-based applications, force protection and counter-IED systems, precision landing and air traffic systems for military applications, and under sea systems encompassing mine defense, naval command and sonar systems, and acoustic sensors. In addition, ITT Electronic Systems produces aircraft armament suspension and release equipment, electronic weapons interface systems, and advanced composite structures and subsystems.

About ITT Corporation
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company reported 2009 revenue of $10.9 billion. www.itt.com
Safe Harbor Statement

Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements that describe the Company's business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. Whenever used, words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target" and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements are uncertain and to some extent unpredictable, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements. Factors that could cause results to differ materially from those anticipated include: Economic, political and social conditions in the countries in which we conduct our businesses; Changes in U.S. or international government defense budgets; Decline in consumer spending; Sales and revenue mix and pricing levels; Availability of adequate labor, commodities, supplies and raw materials; Interest and foreign currency exchange rate fluctuations and changes in local government regulations; Competition, industry capacity and production rates; Ability of third parties, including our commercial partners, counterparties, financial institutions and insurers, to comply with their commitments to us; Our ability to borrow or to refinance our existing indebtedness and availability of liquidity sufficient to meet our needs; Changes in the value of goodwill or intangible assets; Our ability to achieve stated synergies or cost savings from acquisitions or divestitures; The number of personal injury claims filed against the company or the degree of liability; Uncertainties with respect to our estimation of asbestos liability exposures, third party recoveries, and net cash flow; Our ability to effect restructuring and cost reduction programs and realize savings from such actions; Government regulations and compliance therewith, including compliance with and costs associated with new Dodd-Frank legislation; Changes in technology; Intellectual property matters; Governmental investigations; Potential future employee benefit plan contributions and other employment and pension matters; Contingencies related to actual or alleged environmental contamination, claims and concerns; Changes in generally accepted accounting principles; Other factors set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our other filings with the Securities and Exchange Commission.

The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact: Thomas Scalera / T: +1 914 641 2030 / E: thomas.scalera[.]itt.com.

 
 
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Agency / Source: ITT Night Vision and Imaging

 
 

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ITT Extends Counter-IED Leadership with JCREW 3.3 Phase III Contract

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Contact: Jenny Schiavone - ITT.com 
914-641-2160 jennifer.schiavone[.]itt.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ITT Night Vision and Imaging securities in any jurisdiction including any other companies listed or named in this release.

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