Total Customer Satisfaction Through Continuous Improvement and Teamwork
DRS Systems & Electronics is headquartered in St. Louis, Missouri, with a manufacturing facility located in West Plains, Missouri. DRS Systems & Electronics is a full service supplier of diversified defense products and support for the U.S. Military and other customers. The St. Louis complex consists of a 270,000 square foot administration, engineering and prototype development facility.
Our products, services and experience form the foundation for DRS Systems & Electronics's leadership role in the changing world of defense systems and technology.
DRS Systems & Electronics's capabilities include production support, engineering, a versatile workforce, integrated material handling, system integration, and environmental and functional testing including a broad frequency chamber.
Our on-site engineering staff is experienced in mechanical, electrical, and electronic disciplines including design and development of digital and analog automatic test equipment and system level design.
Our experienced workforce is certified to the level of "contract specific requirements." Resident trainers ensure compliance certification by conducting classes for all new personnel, and re-certification classes for existing employees.
From product concept. . . to design. . . through production. . . and testing. . . DRS Systems & Electronics is your single source for a complete range of manufacturing resources
Systems and Electronics is headquartered in St. Louis, Missouri, with a major manufacturing facility located in West Plains, Missouri. In addition to being the primary management and administrative center, the St. Louis facility houses the Electrical Assembly and Test Center as well as the engineering laboratories for new product development and engineering prototype preparation.
The Electrical Assembly and Test Center supports both production and prototype development. This includes assembly, environmental testing, repair and modification of our electronic based products. They also provide quick response precision machine shop services to support our St. Louis operations.
Each facility provides various capabilities that support the Systems and Electronics quality concept. Concentration on specific manufacturing processes at each facility maintains our expertise and increases our efficiency by using specialized equipment and skilled personnel in the most cost effective and responsive manner.
Finmeccanica Completes Acquisition of DRS Technologies for 5.2 billion U.S. dollars
Rome (Italy) and Parsippany (NJ-USA) - Finmeccanica, S.p.A. (Milan: FNC) ("Finmeccanica"), a world leader in the aerospace, defense and security industry, announced today to have successfully completed its acquisition of DRS Technologies, Inc. ("DRS"), a leading supplier of integrated defense electronics products, services and support. The acquisition received all the required regulatory approvals as well as the approval of DRS shareholders.
Finmeccanica purchased all outstanding shares of DRS for 81 U.S. dollars per share in cash. The enterprise value of the transaction is 5.2 billion U.S. dollars, including the assumption of approximately 1.6 billion U.S. dollars in outstanding indebtness (including the convertible notes). DRS will be known as DRS Technologies, a Finmeccanica Company.
"Today begins a new era for Finmeccanica", said Pier Francesco Guarguaglini, Chairman and Chief Executive Officer of Finmeccanica. "The acquisition of DRS further solidifies our position as a top-tier international competitor and reinforces our commitment to the U.S. market, industrial base and, most importantly, the American armed forces, establishing a strong transatlantic Defence Electronics capability".
"Finmeccanica's investment in DRS will allow the company to increase new business opportunities globally, accelerate growth while strengthening our presence in the United States", said Mark S. Newman, Chairman of the Board and Chief Executive Officer of DRS. "With an increased emphasis on research and development, DRS will continue to create new and innovative products that provide the American armed forces superior technology and value".
DRS will operate as a U.S. subsidiary of Finmeccanica under agreements with the U.S. Department of Defense, including a plan to mitigate foreign ownership control and influence (FOCI).
About Finmeccanica
Headquartered in Italy, Finmeccanica is a leading global high-tech company with core competencies in the design and manufacture of helicopters, civil and military aircraft, aero structures, satellites, space infrastructure, missiles and defense electronics and security. The company employs more than 60,000 people worldwide, including 2,100 employees at 32 sites in North America - not including DRS. For more information about Finmeccanica, please visit the company's website at www.finmeccanica.com.
About DRS Technologies
DRS Technologies, headquartered in Parsippany, New Jersey-USA, is a leading supplier of integrated products, services and support to military forces, government agencies and prime contractors worldwide. The company employs approximately 10,500 people. For more information about DRS, please visit the company's website at www.drs.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on management's beliefs and assumptions, current expectations, estimates and projections. Such statements, including statements relating to the combined Company's expectations for future financial performance, are not considered historical facts and are considered forward-looking statements under the federal securities laws. These statements may contain words such as "may," "will," "intend," "plan," "project," "expect," "anticipate,""could," "should," "would," "believe," "estimate," "contemplate," "possible" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements and include, without limitation, demand and competition for the Company's products and other risks or uncertainties. Given these uncertainties, you should not rely on forward looking statements. Such forward-looking statements speak only as of the date on which they were made, and the Company undertakes no obligations to update any forward-looking statements, whether as a result of new information, future events or otherwise. Mailing Address
DRS Systems & Electronics
201 Evans Lane
St. Louis, MO 63121
Driving Directions
From Lambert St. Louis International Airport
General Information
314-553-4000
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