L-3 lands deal to provide airport security system

L-3 Communications equipment to scan airport luggage under contract worth up to $550 million

Associated Press

NEW YORK (AP) -- Government contractor L-3 Communications Holdings Inc. will provide explosive detection equipment to help U.S. airports scan luggage.

Under the five-year deal announced Wednesday, the Transportation Security Administration could pay L-3 up to $550 million during the next five years.

The contract calls for L-3 to supply the government with eXaminer 3DX and eXaminer 3DX-ES systems to check for explosives. The TSA already is using 640 of these systems, according to L-3.

The company's stock gained 33 cents to $72.30 in afternoon trading as the broader markets declined.

L-3, which is based in New York, employs 51,000 workers and generates about $15 billion in annual revenue.

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