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Metal Storm is Awarded USMC Contract for Weapon System
Sydney, July 13, 2006 (ABN Newswire) - Metal Storm (ASX: MST)(NASDAQ: MTSX) announced today it was awarded a US$331,426 (approximately A$442,125) contract by the United States Marine Corps Warfighting Lab, Ground Combat Element (GCE) Branch for the design, fabrication and test of 18mm stacked round firing systems.
Under the terms of the contract, Metal Storm will explore the feasibility of employing 18mm fin stabilized high explosive projectiles from an accessory under-barrel weapon for the M-16A4 service rifle. The firing technology will be a test bed potentially leading to Marine Corps experimentation with larger diameter finned projectiles than are possible with shotgun-launched munitions.
The signing of the contract follows previous advice to the market, on 10 May 2006 that the US Marine Corps (USMC) Systems Command had placed a notice on the US Federal Business Opportunities website that it intends to award a Sole Source Research and Development Contract to Metal Storm.
About METAL STORM LIMITED
Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in Australia. Metal Storm Limited technology and products are represented in the USA by Metal Storm Inc., which has offices in Arlington Virginia.
Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.
Metal Storm's weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.
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