SAN DIEGO, Calif., 26 April 2005. The Titan Corp. announced today that the U.S. Navy's Naval Sea Systems Command has awarded the company a competitively-won $29.1 million, with options if exercised, Landing Craft Air Cushion (LCAC) Service Life Extension Program contract.
Through this award, five of the Navy's fleet of LCACs will receive repairs or refurbishments to their hulls, higher-thrust main engine upgrades, and installation of a new skirt system. Additionally, the craft's communication and navigation systems will be upgraded.
An essential element within the current and future Navy/Marine Corps amphibious warfare triad, the high-speed LCAC can carry a design payload of 120,000 pounds. The Navy's Service Life Extension Program will extend the service life of the LCAC 20 to 30 years, while improving combat readiness.
"This new contract -- which represents all new work for Titan -- significantly increases our footprint within the U.S. Navy's fleet modernization programs," said Gene Ray, Titan's president, chairman, and CEO. "The Navy's LCAC Service Life Extension Program is slated to modernize 66 craft over the next ten years. With this award and our past experience with LCAC programs, we are well positioned to grow this new market and business area."
Headquartered in San Diego, Titan is a leading provider of comprehensive information and communications systems solutions and services to the Department of Defense, intelligence agencies, and other federal government customers. The company has approximately 12,000 employees and annualized sales of $2 billion.
Titan is also the prime contractor for the U.S. Navy's revolutionary new Littoral Surface Craft -- Experimental ship, commonly referred to as "X-Craft," which was christened "Sea Fighter" on February 5. For more information, see www.titan.com.
