SOURCE: Esterline Technologies

Esterline Technologies

September 08, 2015 16:05 ET

Esterline Awarded $21 Million Contract by General Dynamics UK for Displays and Video Processing Units on SCOUT Vehicle Program

Esterline's Codis™ Brand of Rugged Visualization Products Adds Key Capabilities for the Company in Markets Including Armored Vehicles Such as SCOUT SV

BELLEVUE, WA--(Marketwired - Sep 8, 2015) - Esterline Corporation (NYSE: ESL) (www.esterline.com), a leading specialty manufacturer serving global aerospace and defense markets, today announced that its Codis™ high-performance visualization products have been selected by General Dynamics UK for the armored SCOUT Specialist Vehicle (SV) program, for a total contract value of $21 million over seven years. Products being supplied include turret crew-station displays, triple-head driver's displays and specialized video-processing hardware.

"Esterline is proud to have been competitively selected by General Dynamics UK to provide our visualization products for the SCOUT SV," said Esterline President & CEO Curtis Reusser. "We are pleased to participate in this important program that will provide British troops with state-of-the-art protection and technology."

Specific Esterline hardware to be delivered includes:

  • Codis TX-335S turret crew-station displays to present gunners and commanders with logistics, mission-system and gun-control information.
  • Codis TX-321S triple-head driver's displays to render a near-seamless 120-degree image of the route with selectable front or rear view in day or night vision.
  • Codis VPU-101 video-processing units to receive and interpret data from multiple vehicle-mounted sensors, then process, reformat and distribute it to displays.

Hardware deliveries will begin in 2016, continuing for seven years. Esterline will manufacture the Codis hardware in its Kortrijk, Belgium facility. The Codis brand was added to Esterline's product portfolio as part of the company's most recent acquisition in February 2015 of high-technology display products for aerospace and defense markets.

SCOUT SV will be a highly agile, tracked, medium-weight armored fighting vehicle. General Dynamics UK was competitively selected in 2010 for the Design phase of the program and subsequently in September 2014 the option for the manufacturing phase to build the 589 SCOUT SV variants for the British Army was invoked.

About Esterline:

Esterline Corporation is a leading worldwide supplier to the aerospace and defense industry specializing in three core areas: Advanced Materials; Avionics & Controls; and Sensors & Systems. With annual sales approaching $2 billion, Esterline employs roughly 13,000 people worldwide. 

Operations within the Advanced Materials segment focus on technologies including high-temperature-resistant materials and components used for a wide range of military and commercial aerospace purposes, and combustible ordnance and electronic warfare countermeasure products. 

Operations within the Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, cockpit integration systems, secure communications systems, specialized medical equipment, and other high-end industrial and gaming applications. 

The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, specialized harsh-environment connectors, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. 

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should" or "will," or the negative of such terms, or other comparable terminology. These forward-looking statements are only predictions based on the current intent and expectations of the management of Esterline, are not guarantees of future performance or actions, and involve risks and uncertainties that are difficult to predict and may cause Esterline's or its industry's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Esterline's actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements due to risks detailed in Esterline's public filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.