L3 Technologies (NYSE:LLL) announced today that it has been competitively awarded the $499 million U.S. Air Force C-130H Avionics Modernization Program Increment 2 (AMP INC 2). Under the contract, L3 will design, produce and certify a state-of-the-art modernization solution for a fleet of 176 Air National Guard and Air Force Reserve C-130H aircraft to improve aircraft availability, reliability and sustainability while significantly reducing life-cycle costs.
L3 is committed to delivering innovative, cost-effective solutions to ensure mission readiness in support of the U.S. Air Forces modernization strategy, said Christopher E. Kubasik, L3s Chairman, Chief Executive Officer and President. We are focused on providing an agile and low-risk approach to modernizing the Air Forces diverse fleet of C-130s, enabling these assets to operate well into the future.
Modernization solutions will include integration of a commercial off-the-shelf avionics suite, as well as L3s training integration and services. Development, initial- and full-rate production will take place at L3s facility in Waco, Texas, on multiple C-130H variants, including the C-130H1, C-130H2, C-130H2.5, C-130H3 and LC-130H.
L3s aircraft modernization and modification capabilities are world-class, said Jeff Miller, L3s Senior Vice President and President of its ISR Systems segment, which includes the Waco facility where work on the AMP will be centered. Our skilled workforce and our unique 1.25-million-square-foot facility in Waco will provide differentiated capabilities for C-130H fleet longevity.
L3 has more than 65 years of experience as an aircraft systems integrator, including modernizing avionics for C-130 aircraft in the U.S. Air Force fleet and for international allies. The companys tailored C-130 solutions feature a modern cockpit and open-architecture solutions that integrate avionics from leading providers, and are fully certified for airworthiness and Communications, Navigation, Surveillance/Air Traffic Management (CNS/ATM) compliance.
L3s aircraft modernization and modification facilities are capable of retrofit, modernization and production for both fixed- and rotary-wing aircraft, delivering a broad range of aerospace modification and integration solutions to keep international military, head-of-state, government and commercial customers safe and mission-ready. L3 supports aircraft of all types, sizes and missions, with industry-leading capability to provide complex aircraft conversions; maritime, ISR, command and control, and airborne systems missionization; depot fleet maintenance and modification; and highly customized design, integration and certification of mission subsystems and interiors.
With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2018 sales of $10.2 billion.
To learn more about L3, please visit the companys website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the companys website and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as expects, anticipates, intends, plans, believes, estimates, will, could and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the companys Safe Harbor Compliance Statement for Forward-Looking Statements included in the companys recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.