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ITT Awarded Contract for Band C Counter Radio-controlled IED Systems - The U.S. Naval Sea Systems Command has awarded ITT Corporation (NYSE: ITT) a contract to produce 425 Band C systems and their related spares and equipment for $16.7 million
ITT Awarded Contract for Band C Counter Radio-controlled IED Systems

 

PRZOOM - /newswire/ - Clifton, NJ, United States, 2011/01/05 - The U.S. Naval Sea Systems Command has awarded ITT Corporation (NYSE: ITT) a contract to produce 425 Band C systems and their related spares and equipment for $16.7 million. NYSE: ITT

   
 
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Band C is an upgrade for the U.S. military's installed base of vehicle-mounted systems that prevent the detonation of radio-controlled improvised explosive devices (RCIEDs). This award brings the total number of Band C systems on contract to 1,121 for a total contract value of $39 million to date. The initial contract was awarded in April 2010.

The Band C system will work with the currently fielded Counter-RCIED Electronic Warfare (CREW) Vehicle Receiver Jammers (CVRJs) to address a broader frequency range of the evolving spectrum of electronic warfare threats. This upgrade will provide greater capabilities while the longer term development of the next generation of counter-IED systems matures.

"As threats evolve, our technologies must keep pace," said Chris Bernhardt, president of ITT's electronic systems business. "Our Band C systems are critical technology upgrades designed to respond to more threats and give our forces enhanced capabilities to perform their missions more safely."

The CVRJ and Band C programs are satisfying an urgent Department of Defense requirement for increased system production in order to prevent the detonation of radio-controlled IEDs. These counter-IED devices are being used by soldiers, sailors, airmen and Marines on various armored vehicles and other military transport equipment, and are deployed to current military operations in Iraq and Afghanistan.
ITT's electronic systems business 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 undersea systems encompassing mine defense, naval command and sonar systems, and acoustic sensors. In addition, the business produces aircraft armament suspension and release equipment, electronic weapons interface systems, and advanced composite structures and subsystems.

About ITT Corporation

ITT Corporation (itt.com) 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.
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 Awarded Contract for Band C Counter Radio-controlled IED Systems

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ITT |
Contact: Courtney Reynolds - ITT.com 
973-284-5382 courtney.reynolds[.]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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