Cobham PLC (LSE: COB) said a team it formed with Northrop Grumman Corp (NYSE: NOC) has been selected to provide the VIS-X Vehicular Intercommunication System Expanded for the US Army, with a total value of the 10-year contract capped at US$2.4 billion, with Cobham receiving 50 percent of the revenue.
Under the terms of this Indefinite Delivery/Indefinite Quantity (ID/IQ) contract, the NGCI team is required to be able to deliver up to 500 VIS-X systems per month during the first year following and up to 2,000 systems per month in subsequent years.
VIS-X will provide vehicle crew members and occupants with improved speech intelligibility and hearing protection. VIS-X can be used in both new production and legacy vehicle platforms, allowing the warfighter to utilise the same, state-of-the-art equipment regardless of vehicle type or age, Cobham said in a statement.
Northrop Grumman and Cobham will continue to supply VIC-3 systems to support the large installed base of more than 85,000 vehicles.
Cobham CEO Allan Cook said: “Given that our Defence Communications and Mission Equipment businesses have been subdued in the first half of 2009, this excellent news underpins our confidence in the organic revenue growth of the Defence Systems Division for the full year.”www.proactiveinvestors.com
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