Electro Optic Systems Holdings
Limited has executed agreements with Hyundai-WIA, a Korean corporation,
relating to the joint development, marketing, production and support of remote
Under the agreements, Hyundai-WIA will produce remote weapon systems [RWS] in Korea.
Initially these will be drawn from the current EOS product range, but the parties expect new and upgraded RWS products to issue from joint development programs in the near term, to address emerging global market requirements.
The collaboration will draw heavily on the deep technology and production capabilities of both companies.
The EOS Defence Systems sector is concentrated on the development, marketing, production and support of remote weapon systems [RWS] for global markets.
”Hyundai-WIA and EOS will move quickly to establish RWS production in an existing Hyundai-WIA plant in Korea,” EOS Chief Executive Officer, Dr Ben Greene said.
”A key element will be pooling EOS and Hyundai-WIA technologies in product development, quality improvement and production engineering,” Ben added.
We expect to achieve more competitive products through these arrangements.”
“EOS is now a major step closer to a business model adapted to volatile global demand during a sustained period of unpredictable government budgets.
The partnering arrangements deliver production capacity which is scalable at low cost, and simultaneously improves production quality, market access, fixed costs and delivery risk,” said Ben.
The arrangements with Hyundai are similar to those announced May 2010 when EOS and Northrop Grumman Corporation agreed to jointly develop, produce and support RWS for the USA and certain export markets.
Those arrangements included EOS and Northrop Grumman teaming to compete for the US Army CROWS program requirement for RWS.
In December 2011 EOS announced amended collaboration arrangements with the re-location of EOS’ own RWS capabilities in the USA from Tucson, Arizona to Huntsville, Alabama.
This places them alongside those of Northrop Grumman to allow EOS and Northrop Grumman to address even more efficiently RWS opportunities in general, and CROWS requirements in particular.
The CROWS program award by the US Army is expected by October 2012.
EOS now has completed agreements with partners in both the USA and Northern Asia to produce, support and enhance its RWS products.
These partners have significant investments in scalable production capacity and the incremental cost of adding RWS capacity is relatively small.
Importantly, these plants have the necessary infrastructure for production of modern military equipment, including next-generation systems for quality management, record-keeping, government accounting and supply chain management.
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