HWK 0.00% 0.8¢ hawkstone mining limited

defence announcement

  1. 17,050 Posts.
    lightbulb Created with Sketch. 23
    Document date: Wed 28 May 2003 Published: Wed 28 May 2003 14:25:58
    Document No: 238153 Document part: A
    Market Flag: Y
    Classification: Other
    ZYLOTECH LIMITED 2003-05-28 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Zylotech selected by Defence Material Organisation, Department of
    Defence, as a Team Australia supplier for its Australian Airbourne
    Acoustic Systems Strategy.

    We are pleased to advise that Zylotech Ltd has been selected as part
    of a four company "Team Australia" Supplier group to provide the
    Australian Defence Force (ADF) with its airborne acoustic sensor
    requirements and the sustainment and further development of Airborne
    Acoustic Systems Capability in Australia.

    The selection of the four Australian based companies, Zylotech Ltd,
    Thales Underwater Systems Pty Ltd, Nautronix Ltd and Acoustic
    Technologies Pty Ltd, to form the industry sector supply group,
    follows over 12 months of inter company discussions, assessment and
    review by the Defence Material Organisation (DMO) and the signing of
    a Memorandum of Understanding (MOU) and Non-Disclosure Agreement
    (NDA) by the companies to cooperate in capability development and
    supply outcomes.

    The implementation of this strategy, which was signed-off by the DMO
    Under Secretary Mr Mick Roche on 28 May 2003, will enable
    considerable military capability benefits in an evolving threat
    environment, including network centric warfare, and will create a
    sustainable Australian industry base responsible to ADF customer
    requirements.

    Zylotech can expect to achieve a substantial and ongoing revenue flow
    from this initiative over a number of years through the provision of
    sonobuoys and other specialised technology developed and produced by
    the Company.

    Revenue from this initiative is expected to commence modestly before
    the end of the 2002/2003 financial year and build in subsequent
    years.

    Zylotech has already commenced work under a recently received order
    from the Department of Defence for the first stage of a study, valued
    at approximately $55,000, for identifying the critical factors in the
    development of a carousel launcher for A and G size sonobuoys. This
    is planned to be designed and developed by Zylotech with the
    objective of increasing the sonobuoy launch capability of the Seahawk
    Helicopters used by the Royal Australian Navy.

    Zylotech believes that this initiative will also assist the four
    companies in achieving their objectives to identify and exploit niche
    export opportunities for innovative acoustic product outcomes from
    their R & D activities.

    This achievement is a very significant milestone for Zylotech, with
    considerable short and long term potential. This is in line with the
    Company's redefined objectives, announced when it recently took over
    Sonacom Ltd, of focusing on both defence and civil defence markets,
    in addition to commercial markets, for our emerging acoustic
    surveillance products and solutions and integrated video surveillance
    products and solutions.


    Bernie McGeorge
    CEO & MANAGING DIRECTOR
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.