Successful Firing of Area Denial Weapon System
Sydney, Nov 3, 2005 AEST (ABN Newswire) - Metal Storm Limited (ASX: MST) and Electro Optic Systems Holdings Limited (ASX: EOS) today announced a long-term teaming agreement to jointly develop and market a weapon system that brings together the complementary features and benefits of their respective weapons technologies in a system designed to provide a new capability for dealing with multiple threats in modern conflicts, including Iraq.
The two companies will join forces under the agreement with the objective of securing contracts to supply integrated weapon systems to the US Department of Defense and other customers in international markets.
EOS technology is used in the United States Army's Common Remotely Operated Weapons System (CROWS) program in Iraq.
The Metal Storm/EOS weapon system will combine the two companies' technologies to provide a fast-reaction, lightweight, multi-functional weapon system capable of either autonomous or remote operation.
"The new weapon system would provide customers with options to respond to a variety of operational situations including the interception of incoming projectiles and the application of lethal and less-than-lethal force ? all from a single integrated weapon system," said Metal Storm Chief Executive Officer, Mr David Smith.
Potential markets for the weapon system include vehicle self defence, perimeter and airfield protection, ship defence, high value asset protection and urban terrain operations.
"The integration of EOS' sensor and fire control technology with our advanced weapons technology will add yet another dimension to the marketability of our product and our capability as a weapon systems integrator," Mr Smith said.
"It is a good example of Metal Storm delivering on its stated objective of forming commercial relationships which complement our technology and assist in bringing our weapon system to full implementation in the shortest possible time frame," he said.
This is the latest in a series of agreements negotiated by Metal Storm as part of a strategy of commercialising its weapons technology.
With certain exceptions Metal Storm and EOS will work together exclusively in jointly promoting systems which incorporate their respective technologies, wherever suitable programs are identified.
The new system is scheduled to be trialed in 2006 with the objective of using it operationally from 2007.
The time and cost of development will be substantially reduced by using software and combat systems from EOS that are already approved and in operational use by the US Department of Defense.
"I expect this weapon system to deliver unprecedented response times and flexibility against multiple targets, offering a new capability for field commanders," said EOS' Chief Executive Officer, Dr Ben Greene.
"The fact that the target acquisition and aiming system is already approved by the US Department of Defense and is in operational use should allow rapid access to target markets," Dr Greene said.
Mr Smith said that under the agreement, the key elements of a complete weapon system would be combined in one integrated package.
The elements are: Metal Storm's multi-barrel launcher; EOS' fire control system and target acquisition and aiming platforms; and munitions being developed by Metal Storm in conjunction with the US Army's Research Development and Engineering Center (ARDEC) and Singapore Technologies Kinetics Ltd.
Key features of the weapon system planned by EOS and Metal Storm include:
? Multiple barrels and munition types available at the same time
? High firing rates if required
? Compact, low weight
? Rapid slewing and targeting responses
? Ability to engage multiple targets with less than one second between engagements
? Fully networked, operating from a single control
? Plug-and-play with all EOS systems already fielded, including CROWS.
Notes
EOS Australian Stock Exchange trading code: EOS
EOS website: www.eos-aus.com
Metal Storm's Australian Stock Exchange trading code: MST
Metal Storm's NASDAQ Small Cap ticker symbol: MTSX
Metal Storm website: www.metalstorm.com
Contact
United States:
Investor queries:
David Smith - Metal Storm
+1 703 248 8218
Media:
Gregory Pettit - Hill & Knowlton
+1 212 1885 0300
Australia:
Investor queries:
Ian Gillespie ? COO,
Metal Storm
+61 7 3221 9733
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