ST. JOHN'S, Jan. 28 /CNW/ - Today, Rutter Inc. (TSX: RUT) announced that it has been awarded contracts valued at $4,750,000 USD to supply assemblies to General Dynamics Land Systems-Canada for use in Stryker 8x8 vehicles sold to the U.S. Army. The units will be built by Rutter's manufacturing group in St. John's, Newfoundland. Rutter was also awarded additional contracts valued at a total of $1,250,000 USD for spare parts and related components bringing the total awarded to $6,000,000 USD.
"Rutter has been proudly manufacturing components for General Dynamics Land Systems for almost 25 years," said Fraser H. Edison, President and CEO of the Company, "and this contract is just another example of the confidence that General Dynamics Land Systems has in our ability to deliver high quality products which will meet and exceed their customers' requirements. In total Rutter currently has $12,500,000 USD in open contracts with General Dynamics Land Systems. These contracts are in alignment with our budgeted expectations. We are continuing to work closely with GDLS to avail of new opportunities as they arise," he concluded.
The components and spare parts to be supplied by Rutter include assemblies destined for end use on vehicle platforms which are currently deployed in Afghanistan and Iraq. Work on the currently received orders will start immediately and is expected to be completed by June, 2011.
About Rutter Inc. - Rutter is an enterprise focused on providing innovative technologies and engineering solutions. Rutter's global network supplies technologies to improve efficiency and safety in the marine, defense, transportation, oil and gas sectors from its headquarters in the Province of Newfoundland and Labrador. Multidisciplinary consulting engineering services including civil, structural, mechanical and electrical engineering as well as environmental and construction management services are provided to a diverse client base which includes all levels of government and the oil and gas and industrial sectors. For more information see www.rutter.ca
This press release may contain forward-looking statements that involve risks and uncertainties. These statements reflect current expectations and are subject to a number of risks and uncertainties including but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Rutter Inc.
For further information: For further information: Karen Snook, Chief Financial Officer, Rutter Inc., (709) 368-3174; Dan Herder, Corporate Secretary, Rutter Inc., (709) 368-3174