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AMSC bags contract for U.S. Navy deployable mine countermeasure system

  •  AMSC (NASDAQ:AMSC) enters into a delivery contract for ~$8M with Textron Systems for a pre-production High-Temperature Superconductor Magnetic Influence Mine Countermeasure Payload System.
  • Textron Systems is acting as prime contractor for an initial award of over $20M, inclusive of the $8M award to AMSC, from the U.S. Navy.
  • AMSC, the U.S. Navy and ONR have collaborated on AMSC's HTS-based Ship Protection Systems including HTS Advanced Degaussing Systems, as well as the deployable HTS Magnetic Influence Mine Countermeasure Payload System. 
  • SA warns AMSC is at a high risk of performing badly due to EPS revisions and inferior profitability.

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