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Canberra, Oct 13, 2010 (ABN Newswire) - Electro Optic Systems Holdings Limited (
ASX:EOS) (PINK:EOPSF) has completed the upgrade of its Tucson, Arizona facility for a new scalable and flexible production capacity in the US.
Recognising the increasing importance of its US production base, EOS has invested to consolidate, expand and extensively upgrade its US facility. The upgraded EOS facility for production and support of remote weapon systems that was completed this week in Tucson is designed to provide production that is scalable from 10 production units per week to 75 units per week, and to produce each member of the EOS weapon system family.
The expanded Tucson plant enables US based production for future military contracts expected to be in US dollars and to minimise the effects of an appreciating Australian dollar against the US dollar.
The Chief Executive of EOS' Arizona subsidiary, EOS Technologies, Inc., Hugo Keyner said:
"EOS has now completed the consolidation in Tucson of all its US-based weapon system production, including the large capacity acquired in November 2009 from Recon Optical Inc. The consolidation by itself will lead to improvements in production efficiency, and the new plant and technology we have injected will add to this."
"A new element will be the flexibility of the plant to scale up or down as needed to meet production targets. An emerging trend in defence business is the use of short-term appropriations to fund long term procurements, resulting in stop-start funding and, until now, sharp reductions in the overall efficiency of delivering program outcomes. For the first time EOS will be able to surge production volume over a wide range, and be price-competitive at any point in that range."
Commenting from EOS' production plant in Tucson today, EOS' Chief Executive Officer Ben Greene added:
"The new plant is positioned to meet US domestic demand and also to take advantage of any long-term weakness in the US dollar for regional exports. EOS expects that this scalable US capacity will provide a competitive advantage for some time."
"This new facility also allows EOS to meet any future production requirement for the US Army CROWS program, which specifies production rates of up to 75 units per week. New technology means that the large capacity has not been achieved by degrading the plant's competitiveness at lower volumes."
"The expansion of the US production facility does not signal any reduction in Australian operations. The Australian plants continue to manufacture and service remote weapon systems for strong growth markets in Asia, Europe and the Middle East as well as meeting the needs of the Australian Defence Force."
ASX:EOS) (PINK:EOPSF) has completed the upgrade of its Tucson, Arizona facility for a new scalable and flexible production capacity in the US.Recognising the increasing importance of its US production base, EOS has invested to consolidate, expand and extensively upgrade its US facility. The upgraded EOS facility for production and support of remote weapon systems that was completed this week in Tucson is designed to provide production that is scalable from 10 production units per week to 75 units per week, and to produce each member of the EOS weapon system family.
The expanded Tucson plant enables US based production for future military contracts expected to be in US dollars and to minimise the effects of an appreciating Australian dollar against the US dollar.
The Chief Executive of EOS' Arizona subsidiary, EOS Technologies, Inc., Hugo Keyner said:
"EOS has now completed the consolidation in Tucson of all its US-based weapon system production, including the large capacity acquired in November 2009 from Recon Optical Inc. The consolidation by itself will lead to improvements in production efficiency, and the new plant and technology we have injected will add to this."
"A new element will be the flexibility of the plant to scale up or down as needed to meet production targets. An emerging trend in defence business is the use of short-term appropriations to fund long term procurements, resulting in stop-start funding and, until now, sharp reductions in the overall efficiency of delivering program outcomes. For the first time EOS will be able to surge production volume over a wide range, and be price-competitive at any point in that range."
Commenting from EOS' production plant in Tucson today, EOS' Chief Executive Officer Ben Greene added:
"The new plant is positioned to meet US domestic demand and also to take advantage of any long-term weakness in the US dollar for regional exports. EOS expects that this scalable US capacity will provide a competitive advantage for some time."
"This new facility also allows EOS to meet any future production requirement for the US Army CROWS program, which specifies production rates of up to 75 units per week. New technology means that the large capacity has not been achieved by degrading the plant's competitiveness at lower volumes."
"The expansion of the US production facility does not signal any reduction in Australian operations. The Australian plants continue to manufacture and service remote weapon systems for strong growth markets in Asia, Europe and the Middle East as well as meeting the needs of the Australian Defence Force."
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About Electro Optic Systems Holdings Limited
Electro Optic Systems Holdings Limited (EOS)(ASX:EOS) develops, manufactures and sells sophisticated aerospace technology with a wide range of applications through two business divisions - military and space.
EOS' remote weapon systems enable a weapon to be fired rapidly and accurately by a gunner safely relocated away from the weapon. Typically the technology is applied for mounting weapons on the top of an armoured vehicle, and the gunner inside the vehicle. EOS remote weapon systems have been produced in significant numbers for US Army, NATO forces, Australia, and other countries around the world.
EOS' space division is as a manufacturer of telescopes and technology to support space surveillance and space debris management, including removal. In space surveillance, EOS's laser tracking systems and computer technology can simultaneously track tens of thousands of orbiting objects - as small as 2 cm in diameter -while its space ablation technology and systems can potentially alter the orbits of objects (e.g. satellites) in space
EOS has around 140 employees, based in Canberra (Australia), Tucson (Arizona), Singapore and Deggendorf (Germany). The company also has manufacturing centres in Queanbeyan and in Tucson, Arizona.
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