DRS Wins Navy Contract

Parsippany-based DRS Technologies has been awarded new manufacturing contracts by the U.S. Navy.Parsippany-based DRS Technologies (NYSE: DRS) has been awarded new manufacturing contracts by the U.S. Navy for an estimated $18.3 million to provide fan coil assemblies and units for use in the air conditioning system on board the Navy”s DDG-1000 Zumwalt Class guided-missile destroyers. Maine’s Bath Iron Works awarded the contracts to DRS. Work for these orders will be performed by the company”s DRS Marlo Coil unit in High Ridge, Mo. Shares of DRS shed 34 cents to $46.43 this morning.

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