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South Korea Awards ICx Technologies a Mass Spectrometry Contract with an Estimated Value of Up to $40 Million - ICx Technologies, announced that ICx Analytical Instruments, a business unit of ICx Technologies, has been awarded a multi-year contract worth up to $40 million dollars
South Korea Awards ICx Technologies a Mass Spectrometry Contract with an Estimated Value of Up to $40 Million

 

NewswireToday - /newswire/ - Arlington, VA, United States, 2009/03/04 - ICx Technologies, announced that ICx Analytical Instruments, a business unit of ICx Technologies, has been awarded a multi-year contract worth up to $40 million dollars. NASDAQ: ICXT

   
 
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ICx Technologies, a developer of advanced sensor technologies for homeland security, force protection and commercial applications, announced today that ICx Analytical Instruments, a business unit of ICx Technologies, has been awarded a multi-year contract worth up to $40 million dollars.

The contract is for the development of a chemical and biological mass spectrometer (CBMS) for use in military reconnaissance vehicles. ICx Analytical Instruments will work jointly with ICx BioDefense to deliver a premium-class biological and chemical detection system. The CBMS system will be capable of detecting both chemical and biological warfare agents, and the first phase of the contract is a development effort.

"This contract is an important milestone for ICx Technologies. The award validates our technical approach and positions ICx as a leader in field-ready mass spectrometry," said Dennis Barket, President of ICx Analytical Instruments. "The KCBMS will be based on the Griffin 450 mass spectrometry platform." ICx will partner with Seoul-based Hankuk Communication Company, through Tradeways Ltd. based in Annapolis, Md., to introduce a superior product into the South Korean military market.

Hankuk Communication Company is a leading provider of chem/bio equipment to the South Korean military, and will serve as the prime contractor for the project.

"Terrorism and asymmetric warfare are global problems, and we are pleased that the quality of our sensors and solutions are being recognized on an international level," said Hans Kobler, CEO of the company. "It also strongly validates the strength of our mass spectrometers, their capabilities, and the power of our Chem/Bio business units."

About ICx Technologies™

ICx Technologies (icxt.com) is a leader in the development and integration of advanced sensor technologies for homeland security, force protection and commercial applications. Our proprietary sensors detect and identify chemical, biological, radiological, nuclear and explosive threats, and deliver superior awareness and actionable intelligence for wide-area surveillance, intrusion detection and facility security. We then leverage our unparalleled technical expertise and government funding to address other emerging challenges of our time ranging from a cleaner environment, alternative energy to life science.

Statements contained in this press release that are not historical facts are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements, including statements relating to ICx Technologies' plans, objectives and expectations for future operations, are uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by ICx Technologies. You should consider the risk factors described in ICx Technologies' prospectus as filed with the U.S. Securities and Exchange Commission on November 8, 2007, as well as other filings.

The above mentioned contract does not guarantee future revenues and is subject to significant risks and uncertainties which are difficult to predict. Actual results may differ due to a variety of factors, including, without limitation, changing priorities in government budgets, termination due to unilateral government action, and differences in actual and anticipated contract performance, including performance by ICx and other contractors, suppliers and subcontractors.

ICx Technologies undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

All trademarks, registered trademarks and service marks are the property of their respective owners.

 
 
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South Korea Awards ICx Technologies a Mass Spectrometry Contract with an Estimated Value of Up to $40 Million

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Publisher Contact: Vicki Contavespi - ICxT.com 
571-209-7660 vicki.contavespi[.]icxt.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ICx Technologies, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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