Applied Energetics (AERG) Enters Agreement with L-3
Applied Energetics, Inc. (Nasdaq: AERG) entered into a strategic teaming agreement with L-3 Interstate Electronics Corporation (IEC), a unit of L-3 Communications (NYSE: LLL), to pursue DoD contracts involving counter-IED systems.
Under the terms of this agreement, Applied Energetics will serve as prime contractor with L-3 IEC positioned as subcontractor. The two companies intend to collaborate on proposal development, marketing of systems and services and activities mutually agreed in the pursuit of new business.
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