Rutter Inc. is pleased to announce that Rutter Technologies has been awarded a $7.5 million sub-contract by General Dynamics Land Systems - Canada (GDLS-C) to manufacture electronic subassemblies needed to fulfill their $464 million order for US Army Stryker light armoured vehicles.
The Stryker is an eight-wheel-drive combat vehicle capable of traveling at speeds up to 62 mph on highways with a range of 312 miles and is the U.S. Army's highest-priority production combat vehicle. It operates with an integrated armor package protecting soldiers against improvised explosive devices, rocket propelled grenades and a variety of infantry weapons. Significantly lighter and more transportable than existing tanks and armored vehicles, Stryker fulfills an immediate requirement to equip strategically and operationally deployable brigades capable of rapid movement anywhere on the globe in a combat-ready configuration. Since signing its initial contract with the US military in 2000, GDLS has delivered over 1,500 such vehicles, with this latest contract ultimately taking that number to over 2,300.
"This is a new contract that extends our business activity with GDLS well into 2007," stated Paul Griffin, Rutter Technologies President of Manufacturing Services, "We are very pleased that coming with this extension, are a number of new assemblies added to what we have historically manufactured for them. This increases our contribution per vehicle and is viewed by us as a vote of confidence from the customer."
Commenting on this contract award, Donald I. Clarke, Chairman and CEO of Rutter Inc. noted, "I am extremely proud of the personnel in our St. John's plant whose hard work and attention to quality earned us that vote of confidence. The strength we have in manufacturing is the result of many years of shaping the business processes and systems needed to deliver reliable, high quality products that stand up to use under extremely harsh conditions. That is what goes into every Rutter product and enables us to deliver exceptional value to our manufacturing customers as well."
About Rutter Technologies - A division of Rutter Inc., Rutter Technologies provides Voyage Data Recorders, advanced radar signal processing technology, interfacing solutions, digital video and audio capture technology and other innovative products. In addition to offering its own product lines, Rutter Technologies is a fully integrated outsource manufacturing services provider. Its overall mission is to deliver world class technologies and outsource manufacturing services that enhance the safety, security and efficiency of customer operations.
About General Dynamics - General Dynamics, headquartered in Falls Church, Virginia, employs approximately 72,200 people worldwide and had 2005 revenue of $21.2 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation. More information can be found online at www.generaldynamics.com
This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements reflect our current expectations and are subject to a number of risks and uncertainties including, but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.
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For further information: please contact: Paul Snow, Director of Communications & Investor Relations, Rutter Inc., (709) 368-3174; Paul Griffin, President, Manufacturing Services, Rutter Technologies, (709) 576-6666