MTS Systems Corporation (NASDAQ: MTSC) sensor business unit, has been awarded Purchase Orders amounting to approximately USD 187 million for advanced technology sensors to be used in systems for the US Department of Defense (DOD), the company said.
These Purchase Orders have been awarded and funded up to USD20 million and include option clauses which are expected to be awarded incrementally up to an additional USD 167 million throughout the performance period of each contract. Delivery of these sensors will begin in the company´s fiscal 2019, and be completed over the next five to seven years.
MTS Systems Corporation´s testing hardware, software and services solutions help customers accelerate and improve their design, development and manufacturing processes and are used for determining the mechanical behavior of materials, products and structures. MTS´s high-performance sensors provide measurements of vibration, pressure, position, force and sound in a variety of applications. MTS had 3,500 employees as of September 30, 2017 and revenue of USD 788 million for the fiscal year ended September 30, 2017.