Join our daily newsletter At The Bell to receive exclusive market insights
- Defence technology company Electro Optic System Holdings (EOS) has won two contracts worth $4.25 million for its R400 Weapon Systems (RWS)
- The contracts are from an unnamed European NATO country
- A number of the RWS systems will be used on remotely operated combat vehicles (ROCV’s) and will be controlled remotely
- Electro Optic believes its RWS products are well suited for the ROCV market because they are lightweight, reliable and accurate
- The company expects more opportunities in the growing ROCV market
- On the market this morning, Electro Optic is up 2.13 per cent and is trading for $5.27 per share
Defence technology company Electro Optic System Holdings (EOS) has secured two contracts worth $4.25 million for its R400 Weapon Systems (RWS).
A number of the RWS systems will be used on remotely operated combat vehicles (ROCV’s) and include remote controls to operate the systems.
The contracts are from an unnamed European NATO country. NATO is an international alliance that includes 30 member states from North America and Europe.
Electro Optic believes its RWS products are well suited for the ROCV market because they are lightweight, reliable and accurate.
“The company is participating in a number of tender opportunities for ROCV capabilities across multiple countries with a sales pipeline in excess of $1 billion,” Electro Optic said.
“Major awards are possible in the next 12 months,” it added.
The contracts will be delivered by the end of the year.
Last week, the company resumed a $150 million contract that was disrupted by COVID-19 lockdowns.
On the market this morning, Electro Optic is up 2.13 per cent and is trading for $5.27 per share at 10:06 am AEST.
