Optex Systems, Inc. Wins $1.0 Million Award Under General Dynamics Contract
RICHARDSON, TX -- (Marketwired) -- 12/09/13 -- Optex Systems, Inc., a wholly owned subsidiary of Optex Systems Holdings, Inc. (OTCBB: OPXS), a leading manufacturer of optical sighting systems and assemblies for domestic and foreign militaries, announced today that it has received a new Purchase Order from General Dynamics Land Systems - Canada for $1.0 million under their existing contract to upgrade the Commander's Sighting System in the Canadian Army's fleet of Light Armored Vehicles III combat vehicles. General Dynamics Land Systems is a business unit of General Dynamics.
"We continue to work closely with General Dynamics Land Systems - Canada to deliver a comprehensive, high quality product to support their efforts to modernize the existing worldwide LAV III fleet. These sighting systems use Optex's proprietary Digital Day and Night ('DDAN') technology which upgrades the M36 weapon platform on the LAV III vehicles with the addition of both high definition digital video output for day use and third generation, 18mm image intensified technology for night use," said Danny Schoening, Chief Executive Officer of Optex Systems Inc. "We are gratified that the Canadian Army has adopted our advanced technology, the result of our investment in optical engineering solutions," he concluded.
The DDAN, Digital Day and Night technology, is applicable to all M36 Weapon Platforms used by the US and foreign militaries.
ABOUT OPTEX SYSTEMS HOLDINGS, INC. AND OPTEX SYSTEMS, INC.
Optex Systems, Inc., which is the wholly owned subsidiary of Optex Systems Holdings, Inc. (OTCBB: OPXS), was founded in 1987 and is a Richardson, Texas based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, light armored and armored security vehicles, and have been selected for installation on the Stryker family of vehicles. Optex Systems, Inc. also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex Systems, Inc. delivers its products both directly to the military services and to prime contractors. For additional information, please visit the website at www.optexsys.com.
Optex Systems Holdings, Inc.
Stanley A. Hirschman
President
(972) 764-5677
ir@optexsys.com
1420 Presidential Drive
Richardson, TX 75081
Source: Optex Systems Holdings, Inc.
Released December 9, 2013