LaBarge, Inc. (NYSE Amex: LB) has received a $1.3 million contract from Raytheon Missile Systems (NYSE: RTN) to continue to provide complex cable assemblies for the upgraded Rolling Airframe Missile (RAM) Guided Missile Weapon System.
RAM is a supersonic, lightweight, quick reaction, fire-and-forget missile providing defense against anti-ship cruise missiles, helicopter and airborne threats, and hostile surface craft. The missile's autonomous dual-mode, passive radio frequency and infrared guidance design provides a high-firepower capability for engaging multiple threats simultaneously. Produced in partnership by Raytheon and RAMSYS of Germany, RAM is aboard more than 100 ships as an integral self-defense weapon for the navies of the United States, Germany, Korea, Greece, Egypt, the United Arab Emirates and Turkey. The cable assemblies built by LaBarge will be used in the RAM launcher on all ships.
LaBarge, a Raytheon preferred supplier, will perform the work at its Berryville, Ark., facility. Production is expected to begin in May 2010 and continue through April 2013.
LaBarge, Inc. is a broad-based provider of electronics to technology-driven companies in diverse markets. The Company provides its customers with sophisticated electronic and electromechanical products through contract design and manufacturing services. Headquartered in St. Louis, LaBarge has operations in Arkansas, Missouri, Oklahoma, Pennsylvania, Texas and Wisconsin. The Company's Web site may be accessed at http://www.labarge.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect LaBarge, Inc.'s operating results. These risks and factors are set forth in documents LaBarge, Inc. files with the Securities and Exchange Commission, specifically in the Company's most recent Annual Report on Form 10-K and other reports it files from time to time. These forward-looking statements speak only as of the date such statements were made, or as of the date of the report or document in which they are contained, and the Company undertakes no obligation to update such information.
Contacts:
LaBarge, Inc.
Colleen Clements, 314-997-0800, ext. 409
colleen.clements@labarge.com
