LaBarge Secures $9.7 M for Missile Decoy Program
Miniature Air Launch Decoy (MALD) set to enter low-rate production this year
(St. Louis, August 20, 2008) -- LaBarge, Inc. (AMEX: LB) has received the initial award in a multiyear agreement from Raytheon Missile Systems to provide complex interconnect harnesses for the new Miniature Air Launch Decoy (MALD) program. The Company anticipates the full value of the award will be approximately $9.7 million through September 2011 with low-rate initial production beginning this year and full-rate production scheduled to begin in the fall of 2010. Production will take place at LaBarge's Joplin, Mo., operation.
MALD is a low-cost, air-launched programmable missile that accurately duplicates the combat flight profiles and signatures of U.S. and allied aircraft. In addition to protecting valuable aircraft, MALD offers counter air operations to neutralize, if not destroy, air defense systems that pose a threat to U.S. and allied pilots. MALD successfully completed government and Raytheon seamless verification team flight testing in January, setting the stage for the program to enter low-rate initial production (LRIP) this year.
Source : LaBarge Inc.
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