ODIM awarded NOK 48 million in naval contracts

(Peterborough/Hareid - 24 August 2009): ODIM has won several naval sector orders representing a value of NOK 48 million. The largest award is from the U.S. Naval Undersea Warfare Center for the design, build, test, and delivery of a pre-production Multi-Function Towed Array Handling and Stowage System (H&SG) for the U.S. Navy¹s DDG-51 Flight IIA destroyers.

ODIM’s contract includes priced options for the delivery of 21 H&SG systems, with the options scheduled to begin in 2010. With the production options added, the total contract value is worth approximately NOK 257 million. “We are extremely proud to be selected by the U.S. Navy for this important program. It’s a major win for our company, and we were up against highly regarded international competitors,” remarked Senior Vice President Naval & Power, Andrew Roy. “This win firmly establishes ODIM Spectrum as the preeminent supplier of naval towed sensor handling systems.” In addition, and included in the above total award figure, ODIM Spectrum recently won two other naval sector orders for new cable handling system designs for the US Navy and one for the Canadian Navy. Each of these programs offers the potential for follow-on production orders for ODIM beginning next year. ”The niche market for advanced sensor handling systems is expected to remain strong. We enjoy a high international reputation in this sector, and are positioned as the “go to” supplier with many of the large prime defence contractors, as well as direct sales to the US and Canadian navies,” says acting CEO in ODIM Arild Hatløy.