Exelis Awarded Contract to Support US Navy Minesweeping Solutions

Exelis (NYSE: XLS) has received a contract valued at more than $13 million to provide the Naval Surface Warfare Center, Crane, Ind., with depot level repair, maintenance and modifications for two mine defense systems currently fielded with the U.S. Navy. The IDIQ (indefinite-delivery, indefinite-quantity) contract includes options, which if exercised, would bring its total value to more than $53 million.

The Exelis MK-105 Minesweeping System and Airborne Mine Neutralization System provide the capability to conduct quick-response, high-speed airborne mine countermeasures. The MK-105 has been successfully supporting the U.S. Navy’s mine clearance mission since 1972. The MH-53E Sea Dragon helicopter tows the system through the water as it detonates mines and enables safe passage of military and commercial vessels.

“The MK-105 minesweeping system is an essential technology for the U.S. Navy’s mine countermeasure operations,” said Dave Prater, vice president and general manager of the Exelis radar, reconnaissance and undersea systems business. “As the original manufacturer, we have the knowledge and expertise to perform technology insertion, maintenance and depot repairs to ensure continued effectiveness of this critical capability.”

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More than 40 years ago, Exelis pioneered the development of minesweeping solutions for naval applications and remains the leading global supplier of minesweeping systems for military use. Exelis mine countermeasure technologies help counter maritime anti-access, area denial (A2/AD) challenges, ensuring naval forces can gain access to strategic operating environments. They also enable safe passage of commercial vessels through global waterways, ports and harbors. Work under this contract will be performed in Panama City, Fla., and is expected to be completed by December 2014.

Source: Exelis
Date: Feb 24, 2014