logo-loader
viewElectro Optic Systems Holdings Ltd

Electro Optic Systems sells upgraded weapons to the Defence Force

Electro Optic Systems (ASX:EOS) has commenced the sales of its new 30 mm weapon systems for increasing the firepower of armoured infantry fighting vehicles.

shutterstock_428403064_58449a2e38c5f.jpg
Electro Optic Systems sells upgraded weapons to the Defence Force

The Minister for Defence Industry announced the award of a contract to Electro for the upgrade of 45 units of Electro’s remote weapon systems.

This brings to over 100 units the number of upgraded weapon systems which will be available for service with the Australian Defence Force.

This award is representative of the global market response Electro has received to its next-generation weapon system products.

The company is expecting further contracts in the first half of 2017 as customers are beginning to upgrade to this new weapon technology.

Electro had a cash balance of $8.6 million as at 30 September 2016.

Quick facts: Electro Optic Systems Holdings Ltd

Price: 6.93 AUD

ASX:EOS
Market: ASX
Market Cap: $765.9 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Chase Mining reveals bonanza grade results from Alotta...

Chase Mining Corporation Ltd (ASX:CML) director Martin Kavanagh updates Proactive on receiving all assay results from its seven-hole October Alotta project drilling program in Quebec, Canada, with a spectacular ‘bonanza grade’ copper intersection. The drilling returned 22% copper, +34g/t...

2 hours, 15 minutes ago

2 min read