FOR IMMEDIATE RELEASE
60 East 42nd Street, Suite 5010,
New York, NY 10165, 212-716-2000
Company Contact:
William J. Frost
Vice President - Administration
(212) 716-2000
investor.relations@edocorp.com
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FOR IMMEDIATE RELEASE |
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Company Contact: |
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EDO CORPORATION
TO SUPPLY BOMB RACK UNITS
FOR BOEING F-15K
NEW YORK, NEW YORK - August 29, 2002 - EDO Corporation (NYSE:EDO) announced today that it has signed a contract with The Boeing Company to produce 600 Bomb Rack Units (BRU-46/A and BRU-47/A) for the 40 F-15K aircraft Boeing is producing for the Republic of Korea.
EDO's Marine and Aircraft Systems Division in Amityville, N.Y, will produce these units with deliveries extending into 2008. This order brings the total quantity of Bomb Rack Units produced to over 7,300.
Financial terms of the agreement aren't being publicly disclosed. Boeing is pursuing additional F-15 orders, which could mean future orders for EDO Bomb Rack Units.
"The development and production
of aircraft armament systems has been a part of our core business
for several decades," said James M. Smith, Chairman, President
and Chief Executive Officer of EDO Corporation. "We are proud
of the prominent position our weapons suspension and release equipment
has attained over the years and which, with the Joint Strike Fighter,
will extend through 2026."
About EDO Corporation
EDO Corporation (www.EDOcorp.com)
supplies highly engineered products for governments and industry
worldwide, including advanced electronic, electromechanical and
information systems and engineered materials critical to the mission
success of its customers. The Company's Defense Segment provides
integrated front-line war fighting systems, including radar countermeasure
systems, reconnaissance and surveillance systems, aircraft weapons
suspension and release systems, airborne mine countermeasures
systems, and integrated combat systems and sonar systems and professional,
operational, technical and information technology services. EDO's
Communications and Space Products Segment addresses the needs
of the remote sensing, communication, navigation, and electronic
warfare industries with ultra-miniature electronics and systems
and a broad line of antennas. The Company's Engineered Materials
Segment supplies piezoelectric and advanced composites for the
communication, navigation, chemical, petrochemical, paper and
oil industries, for civilian infrastructure and military applications.
Forward-Looking Statements
This press release
contains statements that are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on current expectations, estimates
and projections about the Company's business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and assumptions
that are difficult to predict. Therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements due to numerous factors, including
those described above and the following: changes in demand for
the Company's products, product mix, the timing of customer orders
and deliveries, the impact of competitive products and pricing,
difficulties encountered in the integration of acquired businesses
and other risks discussed from time to time in the Company's Securities
and Exchange Commission filings and reports. In addition, such
statements could be affected by general industry and market conditions
and growth rates, and general domestic and international economic
conditions. Such forward-looking statements speak only as of the
date on which they are made, and the Company does not undertake
any obligation to update any forward-looking statement to reflect
events or circumstances after the date of this release.
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