ST. LOUIS, Dec 14, 2000 (PRNewswire via COMTEX) ESCO Technologies Inc. (NYSE: ESE) today announced that the Puerto Rico Electric Power Authority (PREPA) awarded a follow-on contract to its Distribution Control Systems, Inc. (DCSI) subsidiary valued at approximately $50 million.
This contract provides for completion of Puerto Rico’s island-wide implementation of Automatic Meter Reading (AMR). The follow-on contract, entails delivery of 650,000 additional transponders and 150 substations, as well as ancillary equipment and services. The deliveries under this contract begin in June 2001 and will be substantially completed by June 2004.
At completion, the total installed base will exceed 1.25 million units and will provide service to all PREPA customers. The total value of this project now exceeds $100 million for Phases I & II.
In making the announcement, Dennis J. Moore, Chairman and Chief Executive Officer of ESCO, stated, “We are extremely pleased that PREPA awarded the follow-on contract to DCSI. The award confirms the success of the initial phase of the project, from both product performance and customer service standpoint, and provides a solid foundation for continued growth and strong performance at DCSI.”
ESCO, headquartered in St. Louis, is a leading supplier of engineered filtration products to the process, health care and transportation markets worldwide. In addition, the Company is the industry leader in RF shielding and EMC test products and also markets proprietary, special purpose communications systems.