DRS Laurel Technologies is a leading supplier of electronic manufacturing solutions that range from building circuit cards to product design, production and system integration for a broad range of military applications. It has supplied cable and wire harnesses, manufacturing and electronic integration services for a variety of programs supporting U.S. military forces. Certified to ISO-9001:2000 and AS-9100 Quality System Standards, DRS Laurel Technologies ensures that its procedures and work processes consistently provide high-quality electronic manufacturing services for its defense and aerospace customers.
DRS Technologies is committed to recruiting and retaining the best talent in the defense and aerospace industry and niche commercial technology areas. We offer an exciting and challenging work environment, a competitive salary and benefits package, and a business culture that rewards performance. Bookmark this page and check back frequently for current job openings. Please send us an e-mail with an attached resume in .rtf format or as unformatted (ASCII) text.
DRS Technologies is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. Focused on defense technology, the Company develops, manufactures and supports a broad range of systems for mission critical and military sustainment requirements.
Our integrated products, systems and support services to all branches of the U.S. military, major aerospace and defense prime contractors, government intelligence agencies, international military forces, and industrial and homeland defense markets. DRS’s broad range of mission critical systems and sustainment solutions uniquely position the Company to support the ongoing superiority of the military's Current Force, as well as the modernization and emerging transformation initiatives of the Future Force.
The Company holds leading market positions in thermal imaging systems, combat display workstations, electronic sensor systems, power systems, battlefield management tactical computer systems, air combat training systems, deployable flight incident recorders, combat support systems, environmental systems and support services. It also provides communications and surveillance systems, diagnostics and test systems, and training and simulation systems. DRS's products are deployed on a wide range of high-profile military platforms, such as DDG-51 Aegis destroyers, M1A2 Abrams Main Battle Tanks, M2A3 Bradley Fighting Vehicles, M-1000 Heavy Equipment Transport Trailer, OH-58D Kiowa Warrior helicopters, AH-64 Apache helicopters, F/A-18E/F Super Hornet and F-16 Fighting Falcon jet fighters, C-130 Hercules cargo aircraft, Trident submarines, Virginia class submarines, Rapidly Installed Fluid Transfer System (RIFTS), Deployable Power Generation and Distribution System (DPGDS), and on many other platforms for military and non-military applications. DRS also has contracts that support future military platforms, such as the DD(X) destroyer, CVN-78 next generation aircraft carrier, Littoral Combat Ship (LCS) and Virginia class submarine.
DRS responds to the needs of U.S. and allied military forces, as they engage in day-to-day expeditionary activities, by providing a range of military support systems and services. The Company's support products include mobile electric power and rugged power conversion and conditioning systems, environmental systems, such as fuel and water distribution, environmental control, chemical/biological trailers and shelters, combat support capabilities, such as heavy materiel handling systems, reconnaissance and surveillance systems integration, ground support and automatic test equipment, security systems and radar systems. DRS's support services include integrated communications services, supply chain and life-cycle management, technical data management, engineering and logistics, training, manpower support and security services.
DRS is organized to directly address the military's mission requirements. Its organization consists of three operating segments: the Command, Control, Communications, Computers and Intelligence (C4I) Group, the Surveillance & Reconnaissance (SR) Group, and the Sustainment Systems & Services (S3) Group. Nine strategic business units and more than 40 Company operating units comprise these groups.
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. DRS Technologies is an Equal Opportunity Employer. Applicants are considered without regard to race, color, religion, creed, gender, national origin, age, disability, marital or veteran status, or any other legally protected status. The Company's policies regarding recruitment, hiring, compensation, benefits, promotions, transfers, training and all other personnel matters are free from discriminatory practices.
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