Composite Engineering Bags a Contract to Provide Drones to Swedish Agency

july 16 2012

Sacramento-based Composite Engineering Inc. has secured $11.9 million contract to provide unmanned targets to the Swedish Defence Materiel Administration. The contract is worth $11.9 million, with the potential to add hardware for an additional $8.3 million.

The drone maker was recently acquired by defense contractor San Diego-based Kratos Defense & Security Solutions Inc. in a deal for $135 million in cash and another $20 million in stock. The company will provide drones, spares, launch equipment and ground support and training, according to Kratos. Other Kratos subsidiaries Micro Systems Inc. and Herley Industries Inc. also will be involved in the contract. Work on the contract is expected to start now, with delivery of hardware and service expected to be completed in 2013.

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