Oceanit gets $50 million Air Force tech contract By Sean Hao, Advertiser Staff Writer.   Honolulu-based Oceanit Laboratories Inc. yesterday received a five-year, $49.6 million Air Force contract to design and build a network of ground stations...

Watch an animation here

aimed at tracking space debris and low-orbiting satellites. 

It's the largest contract in the history of the 19-year-old technology company and likely will double employment at Oceanit's Kihei operations to 40 relatively high-paying jobs.

"Fifty-million dollars ? that is a huge contract for the local tech community," said Ann Chung, executive director of the Hawaii Technology Trade Association. "It's a wonderful testament to the great work that Hawai'i companies are doing."

Although local companies such as food distributor Y. Hata & Co., Tesoro Petroleum Corp. and others have received similar-size or larger government contracts, Oceanit's new contract is large for a Hawai'i technology company, Chung said.

For local technology companies, a big contract typically would be in the range of $10 million over multiple years, she said. "It really shows what the local tech companies can do."

Oceanit's deal also should provide recognition and technical expertise that will benefit other local tech companies in the long-term, said Mike Fitzgerald, president and chief executive of Enterprise Honolulu, an economic development agency.

"It's going to be positive all the way around," he said. "It will allow them to build capacity and reputation, which will put them in position" for more military, as well as commercial, deals.

"It's a big deal," said Patrick Sullivan, Oceanit chairman and founder. "It's taken a tremendous amount of work to get to this point."

Oceanit's previous contracts were in $1 million to $2 million range, the company said. Under terms of the contract awarded by the Air Force Research Laboratory, the project should be completed by September 2009. "It could easily double (employment at the Maui office) ? with high-paying jobs," Sullivan said.

Reach Sean Hao at 525-8093 or .

http://the.honoluluadvertiser.com/article/2004/Sep/09/bz/bz01a.html Posted on: Thursday, September 9, 2004

Bookmark Article
Add to Del.icio.us	Add to Digg	Add to Google	Add to Y!MyWeb

Only registered users can write comments.
Please login or register.

Powered by AkoComment 1.0 beta 2!