DRS Marlo Coil 's 210,000 sq. ft. administrative and manufacturing facility is located 30 miles southwest of St. Louis, Missouri. DRS Marlo Coil has been a leading manufacturer of custom engineered coils, refrigeration and air handling systems since 1925. Our engineering and design expertise are utilized in applications for aerospace, food processing, healthcare, semi-conductors, pharmaceutical industries and Navy & Marine applications. We also supply coil and air handling equipment to a number of OEM's. Our primary sales territories are in the United States, Puerto Rico and Canada.
In addition, DRS Marlo Coil is the United States Navy's largest supplier of heating and cooling marine coils, air handling units, product coolers and refrigeration plants. The Military Sealift Command, United State Coast Guard and international governments are also users of this equipment.
As part of our commitment to provide quality products, DRS Marlo Coil has successfully pursued and obtained ISO-9001 certification and is now recognized by the NQA as a ISO 9001 Registered Company. DRS Marlo Coil 's successful history is the result of our commitment to design and build products for customers who demand quality.
DRS Marlo Coil's Navy coils and AHUs are designed to comply with Navy military specifications and are fully qualified for shock applications and are QPL listed. As with all DRS Marlo Coil products, our Navy coils and AHUs are manufactured with DRS Marlo Coil's proven performance, quality construction and are fully supported with replacement parts and full software data.
DRS Marlo Coil's short manufacturing lead times make our Navy coils and AHUs readily available.
Navy Coil Products
50 and 60 series cooling coils per MIL-C-2939
Gravity cooling coils per MIL-C-2939
Ventilation heaters per MIL-H-16235
Gravity finned pipe coils MIL-R-16743
Low temp unit coolers per MIL-C-24746
Options
Sealed insulation system motors
Commercial marine components
Non-magnetic construction
Noise testing
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.
6060 Highway PP
High Ridge, MO 63049
PHONE (636) 677 7731, FAX (636) 677 1203
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