Will, interesting you just mentioned US Military, both CAE and Cymat are listed in the US Defence document roadmap as potential strategic company contractors for various expertises. CAE was just given a contract to remanufacture more than 300 Bradley vechicles with additional armour. Hoping there is some sort of connection back to Cymat. Can we expect the Canadian military to be active now as well?
By Kaveri Niththyananthan
Of DOW JONES NEWSWIRES
LONDON -(Dow Jones)-
BAE Systems PLC (BA.LN) Monday was awarded a $742 million U.S. Army deal to
remanufacture more than 300 Bradley vehicles with additional amour to protect soldiers.
The value of BAE Systems' Bradley remanufacturing contracts this year now total $1.3 billion.
The defense and aerospace company Monday said it will remanufacture an additional 189 M2A3 vehicles, 115
M3A3 vehicles and 22 M3A3 Bradley fire support team vehicles in conjunction with the Red River Army Depot
through a public private partnership.
Remanufacturing involves disassembly and structural modifications, including equipping vehicles with improvised
explosive device armor, Bradley urban survivability kits and several engineering changes designed to increase
soldiers' chances of surviving attacks.
BAE Systems in May was awarded a contract for 252 Bradley vehicles. The option for additional vehicles was
awarded in July this year.
BAE Systems said work will begin immediately with last deliveries expected in February, 2011.
The contract is managed by the Army's TACOM Life Cycle Management Command.
At 1327 GMT, shares were down 15.25 pence, or 3.4%, at 429.8 pence in a London market that was trading up
0.4%.
Company Web site:
www.baesystems.com
-By Kaveri Niththyananthan, Dow Jones Newswires; 4420 7842 9299; kaveri.niththyananthan@dowjones.com
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Dow Jones Newswires
09-22-08 1020ET
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