DRS Radian has provided engineering services for both military and commercial applications for over 25 years. We develop new products for our customers, as well as maintain existing assets. DRS Radian has deliberately brought together a unique mix of talent from industry, academia, and government to form a well-rounded staff with superior understanding of both military and industry applications, including:
Engineering, Logistics, & Training
Asset Protection Systems
Land Systems
Production
History
1977-1993
Radian Inc. provides engineering and technical support for the US Army's Belvoir Research, Development, and Engineering Center (BRDEC) at Fort Belvoir, VA.
Early 1990s
Radian provides transition support to support existing contracts and ensures continuity of operations as military bases are closed nationwide and operations are transferred to other units.
Mid 1990s to 2002
Radian expands significantly, taking on prime and subcontracts supporting civilian agencies, commercial clients, and all of the Department of Defense (DOD) services.
2002-2006
Radian is acquired by Engineered Support Systems, Inc. (ESSI), adding its expertise to a growing family of military engineering, manufacturing, and integration companies.
2006-Present
Engineered Support Systems, Inc. (ESSI) is acquired by DRS Technologies, Inc., Radian becomes a part of DRS's Sustainment System & Services Group (S3) as business unit DRS Radian.
DRS Radian's business philosophy is based on earning the trust and respect of every customer every day. We believe that the market is a sophisticated, cost-conscious environment where success-oriented businesses must apply a high level of knowledge and expertise to successfully compete and win. We are dedicated to continuously improving our technical skills, providing rapid response to our customers, and investing in our people's success.
Our corporate vision reflects a global, technologically-innovative company that focuses on providing solutions for all phases of the product life-cycle, for both our government and commercial customers. We are devoted to applying advanced technology, sound engineering principles, and practical solutions that allow us to deliver consistently superior products and services.
Engineering, Logistics & Training:
Our Engineering, Logistics & Training Division has provided full-service acquisition, logistics, engineering, and documentation services to the U.S. Army, servicing Counter-Mine, Counter-Obstacle, Demining, Environmental, Petroleum, Power, Topographic, and Water Systems since 1977.
Asset Protection Systems:
DRS Radian's Asset Protection Systems Division acquires and integrates complete asset protection systems, including physical security equipment, emergency management systems, and force protection technologies, as well as the computer-based command and control needed to operate them.
Land Systems:
DRS Radian's Land Systems Division has provided automotive engineering, logistics, and technical support for the U.S. Army's Tank-Automotive and Armaments Command (TACOM), building on its solid reputation for maintaining solid customer relationships and creating high-quality technical solutions.
Production:
DRS Radian's Deployable Power Generation and Distribution System (DPGDS) is now helping the U.S. Air Force and other government agencies provide mobile, scaleable electrical power where it's needed most; while our MilPARTS Network is able to rapidly provide technical documentation and fabricated replacements for "orphaned" parts.
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.
Corporate Headquarters
DRS Radian
5845 Richmond Highway
Suite 725
Alexandria, VA 22303
Ph: 703.329.9300
Ph: 800.595.5593 (Outside National Capital Region)
Fax: 703.329.9510
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