|
L-3 COMMUNICATIONS TO PROVIDE CRASH
RECORDER FOR F-35 JOINT STRIKE FIGHTER
NEW YORK--(BUSINESS WIRE)--May 26, 2004
L-3 Communications (NYSE: LLL - News) announced today that
its business unit, Electrodynamics, Inc., has been selected
by Lockheed Martin Aeronautics Company, Fort Worth, TX, to
design and manufacture a state-of-the-art Crash Survivable
Memory Unit (CSMU) for the F-35 Joint Strike Fighter. Electrodynamics
has partnered with another L-3 business unit, Aydin Yazilim
ve Elektronik Sanayi, a high technology software and electronics
company based in Ankara, Turkey, on this important international
program.
The System Development and Demonstration (SDD) phase of this
contract will start immediately and be completed in 2005.
It is expected to be followed by Low Rate Initial Production
(LRIP) in 2007 and Full Rate Production (FRP) in 2012. With
an estimate of over 2,500 aircraft to be built for the U.S.
and its international partners, the value of the program to
L-3 Communications could be as much as $40 million.
"We are very pleased by Lockheed Martin's decision to
select us as the CSMU supplier for the F-35," said Donald
Spetter, president of Electrodynamics. "Their selection
reinforces our position as the market leader for crash protected
memory and we are excited to be part of the Lockheed Martin
team."
Based in Rolling Meadows, IL. Electrodynamics, Inc, a wholly-owned
subsidiary of L-3 Communications, has been a major supplier
of Flight Data Recorders and Crash Survivable Memory Units
for tactical military aircraft including the Lockheed Martin
F/A-22, the Saab JAS-39, the B-1B and B-2 bombers, and the
Boeing T-45 Goshawk.
Aydin Yazilim ve Elektronik Sanayi is a high technology software
and electronics company, with its most distinctive expertise
in the field of real time Software Engineering and hardware/software
Systems Integration. The unit also has major business in Custom
Manufacturing involving electronic assembly, metalwork fabrication,
Ruggedizing Equipment, communications hardware, Shelterization,
radar data integration, real time C3 Systems, data fusion,
and command center design and installation. It is licensed
to manufacture the electronic equipment and products of a
major shareholder, L-3 Communications, benefiting from its
research and development department and overall capabilities.
Headquartered in New York City, L-3 Communications is a leading
provider of Intelligence, Surveillance and Reconnaissance
(ISR) systems, secure communications systems, aircraft modernization,
training and government services and is a merchant supplier
of a broad array of high technology products. Its customers
include the Department of Defense, Department of Homeland
Security, selected U.S. Government intelligence agencies and
aerospace prime contractors.
To learn more about L-3 Communications, please visit the
company's web site at www.L-3Com.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
Except for historical information contained herein, the matters
set forth in this news release are forward-looking statements.
The forward-looking statements set forth above involve a number
of risks and uncertainties that could cause actual results
to differ materially from any such statement, including the
risks and uncertainties discussed in the company's Safe Harbor
Compliance Statement for Forward-looking Statements included
in the company's recent filings, including Forms 10-K and
10-Q, with the Securities and Exchange Commission. The forward-looking
statements speak only as of the date made, and the company
undertakes no obligation to update these forward-looking statements.
--------------------------------------------------------------------------------
Contact:
L-3 Communications
Cynthia Swain, 212-697-1111
or
Financial Dynamics
Investors:
Eric Boyriven / Olivia Pirovano, 212-850-5600
Media:
Evan Goetz, 212-850-5600
|
