Simula Teams on Lightweight Armor for the U.S. Army's New Stryker
Interim Armored Vehicle
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TEMPE, Ariz.--Sept. 24, 2002--Simula, Inc.
(AMEX:SMU), announced that it is part of a team supplying lightweight
ceramic/composite armor for the first brigade of the U.S. Army's new
Stryker Interim Armored Vehicle (IAV). Simula's initial order is for
assembly of approximately 15 percent of each vehicle armor kit for the
Stryker vehicles. The initial order for the first brigade is comprised
of approximately 400 vehicles.
The armor team is led by IBD/Deisenroth Engineering, Lohmar,
Germany. Simula is the exclusive U.S. licensee for IBD's vehicle
armor, which is sold under the Mexas(R) trade name. Simula's initial
minimum delivery order is valued at approximately $1.2 million and
will be completed in 2002. Production plans between IBD and the
Company call for substantially greater kit content beyond the minimum,
for the first brigade to be produced at Simula's armor facility. The
Company has installed the infrastructure, tooling and equipment
necessary to support the Stryker production rate for the current
purchase order and for future additional content.
The Stryker will be produced in 10 variants including infantry
carrier, reconnaissance vehicle, and mobile gun system. The Army has
announced plans to procure up to 7 brigades totaling 2,131 Stryker
vehicles. The Stryker program has a total projected value of
approximately $4 billion.
The vehicle is being built by a joint venture of General Motors
Defense and General Dynamics Land Systems. The Stryker is a
lightweight, rapidly deployable, eight-wheeled armored vehicle that
combines firepower, battlefield mobility, versatility, and enhanced
"We are very excited that we have been selected to bring advanced,
state-of-the-art armor protection to the next generation armor vehicle
for our troops," said Brad Forst, Simula President and CEO. "This is a
very important element of our growing vehicle armor business."
U.S. Army Chief of Staff General Eric K. Shinseki has stated,
"This vehicle will give the Army that early strike capability with
greater staying power that we need in terms of tactical battlefield
mobility, mounted weapons platform, and assault guns...Our soldiers
will be more capable and better protected for today's -- and
tomorrow's -- crises."
General Motors Defense is the military vehicle division of General
Motors, and is headquartered in London, Ontario. General Motors has
been producing military vehicles for over 80 years, and currently
manufactures several types of tactical support vehicles in addition to
the Stryker IAV. For information on General Motors' military vehicle
programs, go to www.gmmilitary.com.
General Dynamics Land Systems is a wholly owned subsidiary of
General Dynamics . General Dynamics is headquartered in Falls
Church, Virginia. The company has leading market positions in business
aviation, information systems, shipbuilding and marine systems, and
land and amphibious combat systems. More information about General
Dynamics Land Systems can be found on the Internet at www.gdls.com.
Simula designs and manufactures systems and devices that save
human lives. Its core markets are military aviation safety, military
personnel safety, and land vehicle safety. Simula's core technologies
include lightweight transparent and opaque armor products,
energy-absorbing seating systems, inflatable restraints, advanced
polymer materials, personnel protective equipment and emergency
bailout parachutes. For more information, go to www.simula.com.