October 10, 2006
DRS nets millions in new orders
By Jeff Lavery
DRS Technologies Inc. announed it has received over $8 million in new orders to produce magnet motors and electric drives for use in oil and gas drilling applications.
The firm, which is headquarterd in Parsippany, NJ, will manufacture the products at its DRS Power Technology facilities in Hudson and Fitchburg. The motors will provide control of the drill strings used in the high-shock environments of drill sites. The orders were received from Tesco Corp. in Calgary, Alberta, Canada. Tesco markets its products to drilling operations in the oil and gas industry.
Delivery of the equipment is scheduled for March of 2007.
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