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FINANCIAL NEWS
Egyptian Navy awards $24m deal to L-3
26 Sep 2010
(MENAFN) L-3 Ocean Systems said that it has won a $24 million firm fixed-price order from the Egyptian Navy for its Low Frequency Active Towed Sonar (LFATS) system.
LFATS is a long-range active/passive variable depth sonar used by surface ships to detect modern diesel-electric submarine threats. The contract is valued at $24 million with options, if exercised, which would increase the value to $27 million.
The LFATS system is small, lightweight and can be easily installed on any class of ship without structural modifications. It consists of an operator console, power amplifier, towed body and handling system.
Designed with an open architecture configuration to accommodate future technology, LFATS can be used in a standalone mode or integrated into the ship’s combat system.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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