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Business/Financial

MTC, Marine Corps Cancel Tier II UAS Concept Demonstrator

DDN

Monday, January 14th, 2008

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By Geoff Fein MTC Technologies [MTCT] will return $683,000 in performance-based payments and pay $474,000 in program costs to the Marine Corps after entering into a cancellation agreement relating to the company's Tier II Unmanned Aircraft System (UAS) concept demonstration program, the company said last week. "Marine Corps Systems Command and MTC Technologies cancelled their contract for a Tier II UAS Concept Demonstrator on 10 January 2008 based on an agreement made 18 December 2007. The terms of the agreement…

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