Bei (NASDAQ:BEIQ)
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BEI Technologies, Inc. Awarded F-35 Joint Strike Fighter Contract
for Electro-Optical Sensor Components From Lockheed Martin Missiles and Fire
Control Division
SAN FRANCISCO, July 15 /PRNewswire-FirstCall/ -- BEI Technologies, Inc.
(NASDAQ:BEIQ) announced its Precision Systems and Space Division (PSSD) in
Maumelle, Arkansas has been awarded a contract for up to $2 million by Lockheed
Martin Missiles and Fire Control Systems for the F-35 Joint Strike Fighter. The
contract is to design, test and manufacture electro-optical sensor components
for the F-35 Electro-Optical Targeting System (EOTS) through the system
development and demonstration phase.
"We are very pleased to be part of the Lockheed Martin F-35 team. This contract
represents an opportunity to establish our next generation encoder technology
into a multi-year program of international stature," said Dr. Asad Madni,
President and COO of BEI Technologies, Inc. The future production phases would
require sensors for a projected 3000 F-35 aircraft.
The EOTS is an affordable, high-performance, lightweight, multi-functional
system for precision air-to-air and air-to-surface targeting. Lockheed Martin
is developing the F-35 with its principal industrial partners, Northrop Grumman
and BAE SYSTEMS. Companies worldwide are participating in the F-35's
development.
BEI Technologies, Inc. (the "Company" or "Technologies") is an established
manufacturer of electronic sensors, motors, actuators, optical encoders and
motion control products used for factory and office automation, medical
equipment, military, aviation and space systems. In addition, sales to
manufacturers of transportation equipment including automobiles, trucks and
off-road equipment have become a significant addition to the Company's business
in recent years. The Company's micromachined quartz yaw rate sensors are being
used in advanced vehicle stability control systems and a significant increase
in the production of those sensors had been in progress from the middle of 1998
to FY 2003 except for a decrease in production in fiscal 2002 due to increased
competition. The Company is currently transitioning to its next generation of
automotive inertial quartz based sensor products, remotely mounted multi-sensor
clusters with CAN Bus and a multi rate sensor package suitable for
incorporation into electronic systems modules. The Company also manufactures
electronic steering wheel position sensors, seat-memory modules, throttle
position sensors, pressure sensors, and other devices used in transportation
systems. BEI Precision Systems and Space Division is an operating division of
BEI Technologies, Inc.
DATASOURCE: BEI Technologies, Inc.
CONTACT: John LaBoskey, Senior Vice President/CFO of BEI Technologies,
Inc., +1-415-956-4477
Web site: http://www.bei-tech.com/