LaBarge Secures $7.3 Million Agreement with Raytheon for Tow Weapon System

Business Wire

posted: 4 DAYS 9 HOURS AGO

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LaBarge, Inc. (NYSE Amex: LB) has secured a new agreement valued at $7.3 million with Raytheon Missile Systems to provide complex wiring harnesses for the TOW (tube-launched, optically-tracked, wireless-guided) weapon system.

TOW is a long-range, anti-armor assault weapon system that includes a family of attack missiles, which are designed to destroy a range of armored targets, from reinforced tanks to urban fortifications. TOW is in service with more than 40 international armed forces and is integrated on more than 15,000 ground, vehicle and helicopter platforms worldwide. It is used by the U.S. Army, NATO, the United Nations and peacekeeping forces worldwide.

The Company has received initial orders of $4.5 million under the agreement. Production on these initial orders began in October 2009 and is expected to continue through May 2011 at LaBarge's Berryville, Ark., plant.

LaBarge, Inc. is a broad-based provider of electronics to technology-driven companies in diverse markets. The Company provides its customers with sophisticated electronic and electromechanical products through contract design and manufacturing services. Headquartered in St. Louis, LaBarge has operations in Arkansas, Missouri, Oklahoma, Pennsylvania, Texas and Wisconsin. The Company's Web site may be accessed at http://www.labarge.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect LaBarge, Inc.'s operating results. These risks and factors are set forth in documents LaBarge, Inc. files with the Securities and Exchange Commission, specifically in the Company's most recent Annual Report on Form 10-K and other reports it files from time to time. These forward-looking statements speak only as of the date such statements were made, or as of the date of the report or document in which they are contained, and the Company undertakes no obligation to update such information.