Raven Industries Awarded Contracts for Persistent Surveillance Systems

Date : 10/22/2019 @ 12:39PM
Source : GlobeNewswire Inc.
Stock : Raven Industries Inc (RAVN)
Quote : 34.98  -0.79 (-2.21%) @ 9:00PM

Raven Industries Awarded Contracts for Persistent Surveillance Systems

Raven Industries (NASDAQ:RAVN)
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Raven Industries, Inc. (NASDAQ:RAVN) announced today that Raven Aerostar Technical Solutions was awarded a $5.7M contract to deliver TIF-25K® Aerostat Systems sparing hardware to six existing aerostat sites in Afghanistan. Raven Aerostar Technical Solutions was also awarded a $4.7M contract to deliver two TIF-25K Aerostat Systems and associated sparing hardware in support of two additional aerostat sites in Afghanistan. Both contracts will be delivered within the next 12 months.

“We are committed to our purpose to connect, protect and save lives through the development of leading aerospace and defense capabilities and exceptional technical services,” said Scott Wickersham, Division Vice President & General Manager of Raven Aerostar. “We are pleased that our TIF-25K Aerostat System continues to provide valuable situational awareness and security for our customers.”

The TIF-25K Tethered Aerostat offers a cost-effective and rapidly deployable persistent aerial platform for communication, intelligence, reconnaissance and surveillance payloads. Designed to support missions at a variety of altitudes, these systems serve dynamic defense and commercial applications.

About Raven Industries, Inc.Raven Industries (NASDAQ: RAVN) is dedicated to providing innovative, high-value products and solutions that solve great challenges throughout the world. Raven is a leader in precision agriculture, high-performance specialty films, and lighter-than-air technologies. Since 1956, Raven has designed, produced, and delivered exceptional solutions, earning the company a reputation for innovation, product quality, high performance, and unmatched service. For more information, visit http://ravenind.com.

About Raven AerostarRaven Aerostar consists of wholly-owned subsidiaries Aerostar International, Inc. and Aerostar Technical Solutions, Inc. Raven Aerostar is dedicated to connecting and protecting lives through its Aerospace & Defense technology, including stratospheric platforms, radar systems, tethered aerostats, and protective wear garments. From engineering services, design, and development to highly-technical products and support, Raven Aerostar offers tailored turnkey solutions for a multitude of missions. Visit http://ravenaerostar.com for more information.

Contact InformationLisa McElrath, Communications ManagerRaven Industrires+1 (605) 336-2750lisa.mcelrath@ravenind.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/105af68a-6e5f-4d67-b3d0-fa638412911f

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