In May 2010 EOS and Northrop Grumman Corporation agreed to jointly
develop RWS. Now, with the agreement with Hyundai-WIA, EOS has completed agreements with partners in both the USA and Northern Asia to produce,
support and enhance its RWS products (photo : EOS)
Electro Optic Systems Holdings Limited (ASX: EOS) has executed
agreements with Hyundai-WIA, a Korean corporation, relating to the joint
development, marketing, production and support of remote weapon systems.
Under the agreements, Hyundai-WIA will produce remote weapon
systems [RWS] in Korea . Initially these will be drawn from the
current EOS product range, but the parties expect new and upgraded RWS products to issue from joint
development programs in the near term, to address emerging global market
requirements. The collaboration will draw heavily on the deep technology and production
capabilities of both companies.
The EOS Defence Systems sector is concentrated on the
development, marketing, production and support of remote weapon systems [RWS] for
global markets.
Hyundai-WIA is a subsidiary of Hyundai Motor Group [HMG], a
major Korean corporation with diverse technology, manufacturing and
service businesses and with global revenues of US$99 billion [2010]. Hyundai-WIA is a HMG subsidiary focussed on defence products and with global revenues of US$6 billion. It is based in Changwon, Korea
and employs around 6,000 staff. It is a
leading innovator in defence products and manufacturing technology.
The arrangements with Hyundai are similar to those announced
19 May 2010 when EOS and Northrop Grumman Corporation agreed to jointly
develop, produce and support RWS for the USA and certain export
markets. Those arrangements included EOS and Northrop Grumman teaming to compete for the US Army
CROWS program requirement for RWS.
In December 2011 EOS announced amended collaboration
arrangements with the relocation of EOS’ own RWS capabilities in the USA from Tucson , Arizona to Huntsville ,
Alabama . This places them alongside those of Northrop
Grumman to allow EOS and Northrop Grumman to address even more efficiently RWS
opportunities in general, and CROWS
requirements in particular. The
CROWS program award by the US Army is expected
by October 2012.
EOS now has completed agreements with partners in both the USA and Northern Asia to produce, support
and enhance its RWS products. These
partners have significant investments in scalable production capacity and the
incremental cost of adding RWS capacity is relatively small. Importantly, these plants have the necessary
infrastructure for production of
modern military equipment,
including next-generation systems for quality management, record-keeping, government accounting
and supply chain management.
As pressure on Australian manufacturing industry increased
over the past two years due to currency appreciation and labour market
constraints, EOS has migrated to a production approach where its Australian plant in Queanbeyan
has retained only around 65% of its historical scope of work. EOS expects improved competitiveness and
market access will support sales
growth and offset the
effect of transfer of some
production activities offshore.
(EOS)
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