VANCOUVER, British Columbia, 23 July 2007.OSI Geospatial Inc.'s U.S. Systems Operations has signed a contract valued at approximately $1.3 million, including all options. This includes a fixed contract valued at approximately $900,000 to provide the U.S. Coast Guard with ECPINS navigation systems and an option valued at approximately $400,000 to provide a four-year extended warranty period. The systems will be installed on nine ice breaking tugs (seven new installations and two upgrades to existing units) and one shore base facility.
"This is our first significant contract with the U.S. Coast Guard since 2002. Our U.S. acquisition has reopened this market for us, and we are pleased to again be working with the U.S. Coast Guard," says Ken Kirkpatrick, president and CEO. "The U.S. Coast Guard has more than 250 vessels in their fleet and we are committed to growing our business with this very important customer."
OSI currently has a U.S. Coast Guard installed base of 34 vessels and this contract will bring the total to 41 vessels.
