17 Maret 2011

OSI Geospatial Announces $1.4 Million Contract in Australia

17 Maret 2011

OSI Geospatial offers tactical navigation and situational awareness solutions for military users of small craft and surface-navigation submarines that are IMO and NATO STANAG compliant. (image : OSI Geospatial)

Vancouver, Canada - OSI Geospatial Inc. (TSX Venture: OSI) is pleased to announce that it has signed a $1.4 million contract to support the OSI navigation and tactical system used fleet-wide within the Royal Australian Navy (RAN). The contract makes provision for technical support as well as software upgrades for ECPINS-W sub (Electronic Chart Precise Integrated Navigation System – Warship submarine). The agreement also contains provisions for hardware support and maintenance for the ECPINS-W sub workstations installed onboard the RAN fleet. The support contract for these systems, which is signed through L3 Communications, extends through October 31, 2013 and is expected to generate approximately $500,000 in annual revenue.

The RAN has been using OSI's systems since 2004 and is licensed to deploy the technology throughout all defence organisations in the Commonwealth. Through L3 Communications in Australia, OSI has supplied the navigation systems, including upgrades for the past seven years and is looking forward to supporting this customer for many years to come.

"We are very pleased that the RAN continues to demonstrate its commitment to our technology and have elected to further our relationship with L3", said Walter Purio, President and CEO. "The ongoing confidence that the Australian Navy demonstrates in our company and its products paves the way for a long and mutually beneficial relationship with one of our companies many top tier naval customers."

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