Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its newly acquired subsidiary, Composite Engineering, Inc. (CEI), has received an $11.9 million single award baseline contract from Swedish FMV for the supply of unmanned aerial target and associated hardware to the Vidsel Test Range. Specialized hardware and equipment in support of the contract will be provided by three Kratos entities:
Performance on the baseline contract will commence immediately, with deliveries scheduled to complete in 2013. In addition to the baseline contract, options exercisable for hardware through 2017 are valued at up to an additional $8.3 million. Unmanned aerial target drone systems are utilized as high fidelity enemy threat surrogates, simulating performance characteristics of the threat aircraft and missiles, by militaries around the globe for weapons testing and training requirements.
Richard Selvaggio, President of Kratos Unmanned Systems Solutions Division, said, "Providing target drones to the Swedish FMV marks yet another milestone in CEI's already impressive penetration into international markets. With this award, CEI products will support friendly forces from around the world that deploy to this international location for test and training activities. The systems we will provide are planned to remain in service for decades to come at one of the finest test and evaluation ranges in Europe, located near the Arctic Circle."
Date: Jul 10, 2012