L-3 Awarded Multi-Million Dollar Contract to Manufacture Medium Voltage Converter Transformers
ANAHEIM, Calif. - August 17, 2010 - L-3 Power Paragon announced today that its Power Magnetics division has been awarded a multi-million dollar contract by Siemens Industry, Inc. The contract calls for L-3 to manufacture an undisclosed number of Siemens' 17-megawatt Perfect Harmony Medium Voltage Converter Transformers, which Siemens will use for a large pipeline project in Asia.
"This award is a great opportunity for Power Magnetics to grow in the offshore market," said Bruce R. Moore, president of Power Paragon. "Power Magnetics has been providing reliable, quality transformers for over 80 years in various environments for both military and private sectors, and continues to expand its business base into the oil and gas production industry."
L-3 Power Paragon is a leader in the engineering, development, manufacture and integration of power conversion and distribution systems for defense, government and advanced industrial applications. The company's power conversion, conditioning and protection solutions can be found in a wide range of demanding military and commercial environments around the world, including surface ships, planes, tanks, submarines and helicopters, as well as Internet-related or corporate high-volume data processing centers.
Comprised of 20 operating companies, L-3 Marine & Power Systems (L-3 M&PS), is a worldwide leader in maritime automation and control, navigation, communications, dynamic positioning, and power distribution and conditioning for the U.S. Navy, allied foreign navies and commercial customers worldwide. With over 86 locations in 18 countries, L-3 M&PS is a cohesive, global partner with extensive capabilities and a proven track record in delivering the highest level of technology, service and integration. To learn more, please visit www.L-3com.com/MPS.
Headquartered in New York City, L-3 Communications employs approximately 67,000 people worldwide and is a prime contractor in C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2009 sales of $15.6 billion. To learn more about L-3, please visit the company's website at www.L-3com.com.
To learn more about L-3 Marine & Power Systems, visit www.L-3com.com/MPS.
Headquartered in New York City, L-3 Communications employs over 64,000 people worldwide and is a prime contractor in aircraft modernization and maintenance, C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2008 sales of $14.9 billion.
To learn more about L-3, please visit the company's Web site at www.L-3com.com.
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Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as "expects," "anticipates,""intends," "plans," "believes," "estimates," "could" and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.