WHITE PLAINS, N.Y., July 1 /PRNewswire/ -- ITT Night Vision, a business
unit of ITT Industries (NYSE: IIN) has received a contract award from the U.S.
Army Communications Electronics Command (CECOM) to supply Generation (Gen) III
night vision equipment to the U.S. military for the next two years. The total
value of this contract, including all options, is $172 million.
Deliveries on this contract, referred to as OMNIBUS V, will commence in
April 1999 and continue through 2001. Requirements include production and
delivery of AN/PVS-7D and AN/PVS-14 infantry night vision goggles and spare
MX-11620 image intensifier tubes.
"For over a decade now, ITT Night Vision has been delivering high-quality
Gen III night vision devices to U.S. armed forces," stated Jim Flanary, ITT
Night Vision President & General Manager. "We look forward to continuing this
support of our number-one customer as we enter the next century."
Under the OMNIBUS IV contract (awarded in 1996), ITT Night Vision already
has delivered 18,000 high-performance image intensifier tubes and is scheduled
to deliver another 48,000. The tube is the "heart," or primary component, of
every night vision product. The tube that ITT Night Vision has supplied under
OMNIBUS IV offers the highest low-light-level performance ever achieved in a
night vision device. Under the OMNIBUS V contract (base and options), the
Company has the potential to deliver another 44,500 of these tubes.
During 1997, ITT Night Vision won the two largest international contracts
ever received by the local Division of ITT Defense & Electronics, one of three
businesses that comprise ITT Industries. With a combined value of over $100
million, these contracts - one from Switzerland ($26 million) and one from
Australia ($80 million) - firmly established ITT Night Vision as the leading
supplier of Gen III night vision devices worldwide.
The increase in international business also prompted a $20 million
expansion to the existing manufacturing facility as well as the hiring of 150
additional personnel. This facility expansion will enable ITT Night Vision to
double its production capacity by the year 2000.
"Our continued growth in international and commercial/consumer markets,
combined with this most recent U.S. Army contract award, illustrates our
commitment to meeting a wide range of night vision requirements around the
globe," Flanary commented.
ITT Night Vision is the world's leading supplier of Gen III night vision
devices for U.S. and allied military forces, as well as for law enforcement
and select consumer applications. It annually produces and delivers more Gen
III image intensifier tubes than all of its competitors - worldwide -
ITT Industries ( http://www.ittind.com ) is a leading worldwide-
diversified manufacturing company, with 1997 sales of $8.8 billion from its
three primary business segments: automotive, defense & electronics, and fluid
technology. In the automotive area, ITT Industries is one of the largest
independent suppliers of systems and components to automotive manufacturers.
ITT Industries' defense & electronics business is a leader in the design,
manufacture and support of high technology electronic systems and components
for defense and commercial markets. ITT Industries' fluid technology business
is the world's leading manufacturer of pumps, systems and services for the
movement, measurement, and control of fluids. Based in White Plains, New
York, ITT Industries employs more than 58,000 people around the world.
In addition to the New York Stock Exchange, ITT Industries' stock is
traded under the symbol ("IIN") on the Midwest, Pacific, London, Frankfurt and
SOURCE ITT Industries
Web site: http://www.ittind.com
CONTACT: Tom Glover, 914-641-2160, or Laurel Holder,
540-362-7374, both for ITT Industries