Finmeccanica Wins $540 Million Contracts To Provide Equipment To US, Canadian Forces

The Finmeccanica has won three new contracts of total $540 Million to provide equipment to the Canadian Army armoured vehicles and to U.S. Navy submarines and vessels.

The Finmeccanica announced in its press release on Wednesday that the first contract, worth $100 million, has been signed with General Dynamics Land Systems-Canada and concerns the production of surveillance systems to equip the armoured vehicles LAV 6.0 (produced by General Dynamics) used by the Canadian Army.

The eight-year agreement includes the supply of mast mounted, long-range surveillance suites and service support within the Canadian Army LRSS (Light Armoured Vehicle –Reconnaissance Surveillance System) project.

The other two agreements, signed with the US Navy have a total ceiling value of about $440 million. The first order, with a potential ceiling value of $384 million, includes development, production and integration of latest generation electronic equipment to modernize systems currently installed on various classes of U.S. Navy submarines.

This agreement moves the company into a prime-contractor role with the US Navy and expands DRS’s role as a major submarine combat systems supplier.

The other agreement, signed with the US Navy, has a potential ceiling value of $55 million and concerns the modernization of integrated voice communications systems (IVCS) for the US Navy AEGIS cruisers and destroyers.