SOURCE: ITT Industries

April 07, 2005 14:31 ET

ITT Wins Contract for Enhanced Night Vision Goggles

ROANOKE, VA -- (MARKET WIRE) -- April 7, 2005 -- ITT Industries Night Vision (NYSE: ITT) announced a contract award from the U.S. Army Research, Development & Engineering Command Acquisition Center, Unique Missions Division, for Enhanced Night Vision Goggles (ENVGs). The contract has a potential estimated value of $560M during a five-year period, and the Army has initially exercised the base award for program year one of $10M.

The ENVG optically combines an image intensification (I2) image and next generation infrared (IR) image, allowing for improved mobility and situational awareness -- through clear target identification ( I2) and improved target detection ( IR).

"This contract win marks another milestone in our quest to remain at the forefront of vision-enhancing technology," said ITT's Vice President & Director of Business Development, Larry Curfiss. "We are committed to the continuous advancement of our technologies so warfighters can do their jobs more safely and effectively."

While I2 and IR technologies have allowed the U.S. military and its allies to own the night for years, both technologies have strengths and limitations. The ENVG combines the strengths of both technologies into one unit, allowing soldiers to complete their missions more effectively, even when confronted by low-light conditions or obscurants such as smoke and fog.

To make this advanced technology a reality, ITT took its I2 and integration experience and partnered with Raytheon -- another defense leader -- that supplied the IR expertise and components.

The initial units will be used by Program Executive Office Soldier -- the organization tasked with developing, producing, fielding and sustaining everything that the Soldier wears, carries and operates -- for testing purposes. The ENVGs will be sent through a rigorous qualification process to ensure they are ready to be fielded. The testing is expected to last through April 2006.

About ITT Industries

ITT Industries Night Vision, based in Roanoke, Va., is the world's leading developer, producer and supplier of Generation 3 image intensifier technology for U.S. and allied military forces as well as Federal, state and local law enforcement.

ITT Industries, Inc. (www.itt.com) supplies advanced technology products and services in key markets including: fluid and water management including water treatment; defense communication, opto-electronics, information technology and services; electronic interconnects and switches; and other specialty products. Headquartered in White Plains, NY, the company generated $6.8 billion in 2004 sales.

In addition to the New York Stock Exchange, ITT Industries stock is traded on the Midwest, Pacific, Paris, London and Frankfurt exchanges.

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