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ITT Receives 2 Orders for Systems to thwart IEDs
(White Plains, N.Y., May 1, 2008) -- ITT Corporation (NYSE:ITT) announced today it has received two follow-on orders, together worth $70 million, for its CREW 2.1 Vehicle Receiver Jammers, vehicle-mounted systems designed to prevent the detonation of improvised explosive devices (IEDs). The contracts valued at $25 million and $45 million were awarded by the U.S. Naval Sea Systems Command, and announced recently by the U.S. Department of Defense. Under the two contracts, ITT will build and deliver an additional 900 CREW 2.1 devices, plus spares and related equipment.
The CREW program is helping the Department of Defense meet urgent system requirements and increased production demands to prevent the detonation of radio controlled IEDs. These counter-IED devices will be mounted on Mine Resistant Ambush Protected (MRAP) armored vehicles, and other military transport equipment, and deployed to current military operations in Iraq and Afghanistan.
"These two follow-on orders demonstrate our customer's confidence in ITT to meet the aggressive demands for this critical equipment," said Chris Bernhardt, president of ITT's Electronic Systems business. "We are proud to be developing the advanced technologies that provided increased protection to the men and women who put their lives at risk in support of U.S. and allied military operations."
Source : ITT Corporation
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