UltraStrip Signs Exclusive Robotic Agreement with BAE Systems Subsidiaries
Monday February 13, 8:00 am ET
STUART, Fla., Feb. 13 /PRNewswire-FirstCall/ -- UltraStrip Systems, Inc. (OTC Bulletin Board: USTP - News), the Stuart, Florida-based homeland security technology company, announced the signing of a five year exclusive agreement with BAE Systems ship yard subsidiaries in San Francisco and San Diego to provide its patented robotic automated waterjetting technology equipment and services. UltraStrip's robotic technology will perform high speed coating removal services to the shipyard's customers, including U.S. Navy vessels, oil tankers, cruise ships, bulk carriers, and container ships. BAE Systems San Francisco and BAE Systems San Diego are subsidiaries of BAE Systems Ship Repair, Inc., a group of companies owned by U.K. based BAE Systems. BAE Systems is the largest U.K. defense contractor and is one of the top ten U.S. defense contractors with offices located on five continents. BAE employs 90,000 people world wide and trades its stock on the London Stock Exchange.
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UltraStrip Systems' Chairman, Retired Vice Admiral George Sterner, former Commander of Naval Systems Command, stated, "UltraStrip's shareholders will look back on today as a watershed event, the day when their patience, trust and investment, started to be more than a dream! BAE San Francisco has used our patented robotic technology and seen its environmental and cost effectiveness on ships repaired in their yard. This exclusive contract with BAE sends a clear message to the rest of the world that UltraStrip patented automation not only works, but is the preferred method to remove coatings on military and commercial ships by one of the most successful and respected defense companies in the world. The agreement with BAE and UltraStrip calls for UltraStrip to provide the exclusive robotic coatings removal work for five years in the San Francisco and San Diego shipyards. The agreement also opens the door for our companies to partner on coating removal contracts in other BAE System's affiliate ship yards in the U.S., and overseas."
Dennis McGuire, Chief Executive Officer of UltraStrip commented, "We expect the partnership with BAE to generate significant revenue in 2006 and beyond. This agreement validates our business strategy to partner with world class companies to protect and preserve our nation's assets."
Ira Maybaum, President of BAE San Francisco stated: "BAE San Francisco and BAE San Diego Shipyards are very excited about working closely with UltraStrip. Their patented robotic technology allows us to do other critical path work in close proximity while the robots are removing coatings. UltraStrip's robots allow us to have a dust free environment for our workers. This isn't possible using conventional grit blasting. When you can protect your workers, the environment, and satisfy your customers everybody profits."
UltraStrip is a technology firm that develops and manufactures patented equipment to provide solutions to homeland security, military, and environmental problems. This agreement with BAE is another step in the Company's model of partnering with major companies to protect our national security and protect the environment. In December 2005, UltraStrip announced it entered into a Joint Manufacturing and Marketing Agreement with Pierce Manufacturing Corp., a subsidiary of Oshkosh Truck Corp (NYSE: OSK - News). The Company's proprietary Mobile Emergency Filtration Systems and Tactical Water Filtration Trucks, provided through its Ecosphere Technologies subsidiary, are breaking new ground by transforming its powerful water-filtration and purification technology for use in the world's most challenging applications, including the military (e.g., for troop deployments) and Homeland Security (e.g., to areas hit by man-made or natural events that damage vital water resources). The Company's Mobile Emergency Filtration System successfully operated for six weeks in Waveland, MS following that community's devastation from Hurricane Katrina, providing bulk water for drinking, bathing, cooking, and cleaning purposes.
Additionally, UltraStrip's patented robotic water jetting systems are provided through its UltraStrip Envirobotic Solutions subsidiary and are designed to provide an environmentally and cost effective coatings removal process for the removal of coatings on a range of commercial and military vessels, including military support vehicles. The robotic systems have been utilized for U.S. Navy ships (including the U.S.S. Cole after its attack off the coast of Yemen), cruise ships, and tankers in shipyards throughout the world. Further information on UltraStrip can be obtained through its websites www.ultrastrip.com and www.ecospheretech.com
BAE Systems Ship Repair, formerly United States Marine Repair, is America's leading non-nuclear ship repair, modernization, conversion and overhaul company. BAE Systems acquired United States Marine Repair in 2005 and it is now part of an international company engaged in the development, delivery and support of advanced defense and aerospace systems in the air, on land, at sea and in space. BAE Systems Ship Repair is focused exclusively on dry dock and topside ship repair services for the U.S. Navy, other defense agencies and commercial customers. In addition to the Navy, BAE Systems Ship Repair government customers include Military Sealift Command, the Maritime Administration, the U.S. Army and the U.S. Coast Guard. Major commercial customers include owners of tankers, cargo ships and passenger vessels such as Disney, Holland-America Lines and Royal Caribbean Cruise Line. BAE is the leading provider of non-nuclear ship repair services in their strategic markets and maintain operations in major Navy mega ports, including Hawaii.
