ST Kinetics Secures US$46m Defence Export Contract to Supply Patented SRAMS
Singapore Technologies Engineering Ltd (ST Engineering) today announced that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has secured an order to supply its 120mm Super Rapid Advanced Mortar Systems (SRAMS) to an overseas customer. The contract, worth approximately US$46m (about S$58m), involves the supply of ST Kinetics' patented 120mm SRAMS and spares with delivery to be completed by 2014.
"The 120mm SRAMS offers its operators superior battle proven firepower through its high rate of loading and increased mobility made possible with its extremely low recoil force. This order is affirmation of the compelling and effective solutions we offer to our customers, which are built upon the high standard and quality we demand of our products." ~ SEW Chee Jhuen, President, ST Kinetics
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The 120mm SRAMS is the world's first 120mm patented mortar system with a recoil load of less than 26 tonnes when firing at maximum charge. This allows it to be mounted onto a wide range of light weight 4x4 vehicles for rapid shoot and scoot missions and heli-portability. The SRAMS is also equipped with a semi automatic ammo loader allowing for a high firing rate of 10 rounds per minute, thereby enabling missions to be accomplished with fewer mortar systems. Together with its own command and control, fire control system and ammunition on board the vehicle, the SRAMS offers the warfighter on the ground total direct control of its own firepower.
This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
Source : Singapore Technologies Engineering Ltd (SGX: ST Engg)