PORTLAND, OR, Jul 20, 2005 (MARKET WIRE via COMTEX) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has received a contract from a team led by Korea Aerospace Industries to supply its most advanced airborne thermal imaging system, the Star SAFIRE(R) HD(TM), to the Republic of Korea (ROK) as part of the Korean Navy's P-3 Lot II Maritime Patrol Aircraft program.
The ROK Navy P-3 program is a multi-billion dollar effort that includes the competitive procurement of the Star SAFIRE(R) HD(TM) system. Deliveries will begin in 2006. Total contract value is in excess of $5 million (USD), with the potential to be in excess of $10 million including follow on options. This contract also provides for potential future deliveries of additional systems in support of the Republic of Korea Navy's existing P-3 aircraft.
"The selection of the Star SAFIRE(R) HD(TM) system for this program underscores our leading position in providing stabilized airborne imagers to the international P-3 community. We are delighted that the Korea Aerospace Industries and its team have selected our newest, most advanced system for this critical program to help upgrade the Republic of Korea Navy's maritime patrol capability," said Earl Lewis, CEO and President of FLIR Systems.