Restore Regulatory News (RST)

13 Mar 2006 07:01

Radstone Technology PLC13 March 2006 Immediate Release 13 March 2006 Radstone Technology plc Radstone Receives $13 Million Contract Extension from Harris Corporation Radstone Technology PLC, announced today that it had received authorisation todisclose that the company had received a $13 million (approximately £7.5million) extension to an existing LTA (Long Term Agreement) from Harris GCSD(Government Communications Systems Division) of Melbourne, Florida. The extension, which was received in December, relates to the supply ofRadstone's PowerXtreme PPC7EP executive processor which will be used as part ofthe upgrade to the Universal Fire Control System (UFCS) for Lockheed Martin'sHigh Mobility Artillery Rocket System (HIMARS). A variant of the PPC7EP, whichwill include Radstone's PMCGA4C graphics card, will also be supplied to Harris,who have been contracted by Lockheed Martin to perform the upgrade. Jeff Perrin, Chief Executive of Radstone Technology PLC, said: "We are delighted that Harris has awarded Radstone this extension. HIMARS, likethe Multiple Launch Rocket System (MLRS) before it, is a programme that placesenormous demands on its computing infrastructure in terms of performance andreliability. We feel that the selection of the PPC7 processor by Harris is atestament to the market-leading qualities of our products. We look forward toworking with Harris to ensure the success of the upgrade programme." Radstone was originally selected by Harris Corporation in 1999 to provideprocessors and mezzanine cards as part of a program to upgrade over 900 units inservice with the US Army. The U.S. Army's battle-proven HIMARS is the newest member of the MLRS family.Developed originally by Lockheed Martin in 1996, HIMARS entered service in June2005. Three prototype HIMARS launchers were successfully used in combat duringOperation Iraqi Freedom. The purpose of HIMARS is to engage and defeatartillery, air defence concentrations, trucks, light armour and personnelcarriers, as well as support troop and supply concentrations. HIMARS is able tolaunch its weapons and move away from the area at high speed before enemy forcesare able to locate the launch site. For further information contact: Jeff Perrin, Chief ExecutiveKevin Boyd, Group Finance DirectorRadstone Technology PLCTel: +44 (0) 1327 359444Fax: +44 (0) 1327 322815E-mail: jeff.perrin@radstone.co.uk; kevin.boyd@radstone.co.uk Tim Thompson, Nicola CronkBuchanan CommunicationsTel: +44 020 7466 5000Fax: +44 020 7466 5001E-mail: timt@buchanan.uk.com; nicolac@buchanan.uk.com About Radstone Technology PLC Radstone Technology PLC is a global provider of computer products and servicesat the leading edge of the IT and electronics industry. The Group's mainbusiness, Radstone Embedded Computing, designs and manufactures embeddedcomputer products for defence and aerospace applications. Radstone's productsare all based on leading-edge commercial technologies. Radstone Embedded Computing includes Radstone Digital Processing, which leadsthe market in the development and delivery of rugged, high performance singleboard computers, communications and networking modules and digital signalprocessors; ICS (Interactive Circuits and Systems), a leader in the field ofdata acquisition and processing; and Octec, a developer and manufacturer of highperformance real-time video tracking and image processing solutions. Foundation Technology is the Group's Electronics Manufacturing Servicesbusiness, and provides a wide range of electronic manufacturing servicesincluding design, development and fast-track prototype build, through tocomponent procurement, automated assembly and test. For more information about Radstone Technology PLC and its business, productsand services, visit the company's web site at: http://www.radstone.co.uk. This information is provided by RNS The company news service from the London Stock Exchange