CANADIAN, U.S. CONTRACTS FOR DRS TECHNOLOGIES

DRS Technologies is supplying electronic equipment to Canadian and U.S. military services under three separate contracts with a combined worth of $540 million.

April 9, 2015 (UPI) -- DRS Technologies is supplying electronic equipment to Canadian and U.S. military services under three separate contracts with a combined worth of $540 million.

The first contract, worth $100 million, was signed with General Dynamics Land Systems-Canada for production of surveillance systems for the Canadian Army's LAV 6.0 armored vehicles. The surveillance systems include mast-mounted, long-range surveillance suites and service support within the Canadian Army's Light Armored Vehicle - Reconnaissance Surveillance System project.

The term of the contract is eight years, said Finmeccanica, DRS Technologies' parent company.

The second contract is an indefinite-delivery/indefinite-quantity award from the U.S. Navy for development, production and integration of latest-generation electronic equipment to modernize systems installed on various classes of U.S. Navy submarines.

The potential value of the contract is $384 million. The systems to be modernized were not identified.

The company also received a contract for modernization of integrated voice communications systems for the U.S. Navy AEGIS cruisers and destroyers. It has a potential value of $55 million.

DRS Technologies is headquarted in Arlington, Va.