CPS Technologies Corporation Announces Contract With Raytheon Corporation
(firmenpresse) - NORTON, MA -- (Marketwired) -- 10/15/14 -- CPS Technologies Corporation (OTCQB: CPSH) announced today that it has been awarded a $600 thousand subcontract from Raytheon Integrated Defense Systems to produce a metal-matrix composite cold plate as part of the U.S. Navy''s next-generation integrated Air and Mission Defense Radar (AMDR) Program. This component, to be delivered in the third and fourth quarters of 2014, will support the Engineering and Manufacturing Development (EMD) Phase of Raytheon''s contract with the U.S. Navy''s for the AMDR Program.
In 2013 Raytheon was awarded a $385 million contract for the EMD phase of the AMDR Program. The contract includes options which, if exercised by Raytheon, would bring the cumulative value of the contract to over $1.6 billion. CPS expects its involvement with the EMD Phase will result in production opportunities during the future production phases of the AMDR Program.
"This contract validates the technological advantage of integrating high performance inserts in our metal matrix composites. It is also a great example of our ability to work successfully with customers over an extended period of time in the design phase of major programs," said Grant Bennett, President and Chief Executive Officer.
About CPS
CPS Technologies Corporation is a global leader in producing metal-matrix composite components to improve the reliability and performance of various electrical systems. CPS products are used in motor controllers for hybrid and electric vehicles, high-speed trains, subway cars and wind turbines. They are also used as heatspreaders in internet switches, routers and high-performance microprocessors. CPS also develops and produces metal-matrix composite armor.
CPS Technologies Corporation
Ralph Norwood
Chief Financial Officer
111 South Worcester Street
Norton, MA 02766
Telephone: (508) 222-0614
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Datum: 15.10.2014 - 06:00 Uhr
Sprache: Deutsch
News-ID 1309982
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