Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Composite Engineering, Inc. (CEI) subsidiary has received a $6.3 million single award baseline contract from the Korean Agency for Defense Development (ADD) for the supply of unmanned aerial targets and associated hardware. Specialized hardware and equipment in support of the contract will be provided by three Kratos entities:
Performance on the contract will commence immediately, with deliveries scheduled to complete in 2013. 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, "Continuing to provide target drones to the Korea ADD marks yet another milestone in CEI's expanding access to 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."
Date: Oct 25, 2012