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DRS Technologies Wins 43 Million in Army Contracts

For these awards, DRS will produce light, medium and heavy thermal weapon sights, which will utilize the company’s uncooled infrared technology.DRS Technologies (NYSE: DRS), a Parsippany maker of military electronics, said Tuesday it has received $43 million in new orders to produce a family of next-generation thermal weapon sights for U.S. Army ground force applications.

DRS received the new orders from the U.S. Army”s Communications-Electronics Command (CECOM) in Fort Monmouth, acting on behalf of Program Executive Office Soldier. For these awards, DRS will produce light, medium and heavy thermal weapon sights, which will utilize the company”s uncooled infrared technology.

Work for the contracts will be done by the company”s DRS Optronics facilities in Palm Bay and Melbourne, Florida, and DRS Infrared Technologies facilities in Dallas, Texas. Deliveries of more than 4,000 thermal weapon sights will commence in October and continue through October 2006.

The orders are part of a competitively secured five-year contract awarded to DRS in March 2004. The contract has a base value of $118 million and a total value of $375 million, including options.

At the close of trading, shares of DRS Technologies were up $0.04 at $47.22.