MS International (LSE:MSI) has secured its first multi-year contract with the U.S. Navy through its defence subsidiary in Rock Hill, South Carolina.
The three-year contract was awarded on a sole-source basis by the U.S. Naval Sea Systems Command, NAVSEA, and covers the continued supply of MK88 MOD4 stabilised gun mounts and MK48 MOD2 electro-optical sights.
The systems are U.S. Navy variants of MS International’s naval gun mount and electro-optical equipment.
First-Year Orders Valued at $61.3 Million
The contract takes effect immediately, with the U.S. Navy committing to purchase 22 MK88 MOD4 gun mounts and 23 MK48 MOD2 electro-optical sights during the first year.
The initial orders have a combined value of $61.3 million.
MS International said the multi-year award supports management’s expectations for the medium- to long-term prospects of its Defence and Security Division.
MS International Expands U.S. Defence Activities
MS International operates in the defence and security market through businesses including MSI-Defence Systems US LLC.
The company designs and supplies naval gun mounts and electro-optical sighting systems for defence customers, with its U.S. subsidiary providing equipment to the U.S. Navy.
The latest agreement represents MS International’s first multi-year U.S. Navy contract.
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