OTTAWA, Oct. 13 /CNW Telbec/ - OSI Geospatial Inc. (TSX: OSI) ("OSI") announced today that its International Systems Operations has signed a contract valued at approximately $400,000 with the Dutch Defence Materiel Organization to provide a classroom-based Warship ECDIS Training Simulator for use by the Royal Netherlands Navy and the Naval Component of the Belgian Armed Forces. Under the terms of this contract, the company will deliver and install a 17 seat simulator that will be used to train students in the use of the company's world-leading ECPINS(R)-W system. The training simulator is expected to be delivered in the 4th quarter of 2009.
OSI previously announced the successful conclusion of a $1.3 million contract to provide 12 Warship ECDIS systems to the Royal Netherlands Navy and the Naval Component of the Belgian Armed Forces.
"The Dutch Navy is an important customer and we are pleased to be expanding our business relationship. The award of this contract is evidence that we are providing value to our customers," said Ken Kirkpatrick, president and CEO of OSI Geospatial. "This is the first training simulator project for our company and we hope to build on this success with our customers."
With ECPINS(R), OSI provides the most advanced surface and subsurface navigation functionality in the world. We have the largest customer base and greatest number of ships using our ECPINS(R) technology. With one of the largest and most experienced software engineering teams in the industry and over 25 years of experience, we continue to build on our capabilities and maintain our leadership advantage.
About OSI Geospatial
OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange. For additional information please visit www.osigeospatial.com.
This press release contains forward-looking statements and information which reflect the current view of OSI Geospatial Inc ("OSI") with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and OSI'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's financial results are detailed in disclosure documents filed from time to time with the applicable Canadian securities regulatory authorities.
Copyright (C) 2009 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. IGEN and C3CORE are registered trademarks 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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