OSI Geospatial Signs Contract to Provide Navigation Systems to the U.S. Navy 4/26/2007
VANCOUVER, BRITISH COLUMBIA, Apr 26, 2007 (MARKET WIRE via COMTEX News Network) -- OSI Geospatial Inc. (TSX: OSI)(OTCBB: OSIIF) announced today that its U.S. Systems Operations has signed a US $500,000 contract to provide the U.S. Navy with military navigation systems. The systems will be installed on 12 new vessels that are being built to support homeland defense initiatives.
"This is a very important win for us, as the U.S. government is planning to build hundreds of small vessels over the next three to five years to support homeland defense and other military requirements. This contract positions us well for further wins," said Ken Kirkpatrick, president and CEO. "We are pleased that our world leading ECPINS(R)-M navigation system has been selected for this project."
The U.S. government and many other governments around the world are committing substantial resources towards coastal and harbor defense initiatives. There is an increasing demand for small vessels that can be deployed quickly to identify and respond to security threats. OSI's warship navigation technology and market leadership position provides the company with a clear advantage in pursuing this market.
About OSI Geospatial
OSI Geospatial Inc. delivers advanced systems and software to address the growing need for enhanced situational awareness in command, control, communications, and intelligence applications. By providing essential tactical and geospatial information, the company's systems and software help decision-makers know the precise location of mission operations across all military forces while integrating information with allies. OSI Geospatial systems are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange (OSI) and the Over the Counter Bulletin Board (OSIIF). For additional information please visit www.osigeospatial.com.Posts: 1364 | From: Somebody from Europe | Registered: Sep 2005
| IP: Logged |