Micronetics Inc. announced that its New Jersey-based subsidiary, Microwave Concepts (Micro-Con), has received advanced funding of approximately $5 M from a major defense OEM for highly integrated microwave subassemblies. These subassemblies are used as part of a complex jamming system. In addition to this advanced funding, full funding of production quantities is expected within 90 days. The anticipated period of performance on this program is approximately 24 months.
David Robbins, CEO of Micronetics, stated, “We are proud of our Micro-Con microwave subsystems division's continuing success and recognition as a premier supplier of high performance subsystems to the electronic warfare marketplace. This large order is a testament to the continuing strong end-customer demand for these important products.”
Tony Pospishil, General Manager of Micro-Con, added, “We believe this follow-on contract for broadband highly integrated microwave subassemblies validates our customer’s satisfaction with our prior performance as well as their confidence in our ability to continue delivery of high quality products for their advanced system needs.”