VANCOUVER, April 6 /CNW/ - OSI Geospatial Inc. (TSX Venture: OSI) is
pleased to announce that it has signed a $2.2 million contract with the
UK Ministry of Defence to provide a fleetwide license for use by the UK
Royal Navy (RN).
The RN currently employs OSI's tactical navigation software and systems
across 75 naval platforms, including submarines. OSI's systems have
been employed by the RN since 2004. This new fleetwide licence enables
the RN to establish a common software baseline across all of its
current platforms. The licence further enables the RN to deploy OSI's
ECPINS technology across a wide range of new naval users ranging from
small specialized craft and land based operations to new platforms such
as the RN's T45 Destroyers, Astute Class submarines and future new
"The RN's continued confidence and commitment to OSI's proven ECPINS
technology is very satisfying for the entire OSI Geospatial team," said
Walter Purio, OSI's President and CEO. "This important fleetwide
licence contributes to an increasingly robust relationship with the RN
and paves the way for a continued mutually beneficial relationship with
one of our key naval customers."
"The Royal Navy's continued investment in OSI's world leading ECPINS
product is a clear demonstration of the navigational and tactical
benefits that ECPINS brings to the user," said Jim Davison, Director
ECPINS-W Sub is the most advanced military navigational application
available today and is the only ECDIS product that has been type
approved against the NATO WECDIS STANAG 4564. ECPINS-W Sub provides
the user with full WECDIS functionality as well as with a number of
advanced tools both navigational and tactical which provide best of
class operational capability Currently deployed and operational on
over 400 warships, across 14 different navies OSI's ECPINS products
provide the naval customer with significant cutting edge technology.
About OSI Geospatial
OSI Geospatial Inc. operates two distinct business units: Offshore
Systems Ltd. (based in Vancouver, British Columbia), a world-leading
naval fleet supplier of integrated navigation and tactical solutions;
and CHI Systems, Inc. (based in Philadelphia, Pennsylvania), a
leading-edge research, development, and systems integration supplier of
technology solutions for defense, aerospace, health, and bioscience
markets. OSI Geospatial systems and software are in use by military,
government, and commercial customers around the world. The Company is
publicly traded on the TSX Venture Exchange. For additional information
please visit www.osigeospatial.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements and information
that reflect the current view of OSI Geospatial with respect to future
events and financial performance. Any such forward-looking statements
are subject to risks and uncertainties and OSI Geospatial's actual
results of operations could differ materially from historical results
or current expectations. Additional information on these and other
potential factors that could affect OSI Geospatial's financial results
are detailed in disclosure documents filed from time to time with the
applicable Canadian securities regulatory authorities.
ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd.,
an OSI Geospatial company. iGEN is a registered trademark of CHI
Systems Inc., an OSI Geospatial company. Other company brand, product
and service names are for identification purposes only and may be
either trademarks, service marks or registered trademarks of their
respective owners. Data subject to change without notice.
SOURCE OSI Geospatial Inc.
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