Tech Movers
Titan, Surebeam Rise on Mail-Sterilization Order
Titan Corp.(TTN) was gaining in premarket trading after it received a contract for 20 mail-sterilization devices from the U.S. government.
The systems, which were ordered in the wake of the anthrax scares, will be built by Titan's majority owened SureBeam(SURE) unit. The U.S. Postal Service will pay about $40 million for eight electron beam systems and will get an option to buy 12 more for about $5 million each. Titan has estimated the cost of using the systems on mail at 1 cent per letter. Titan was recently up 2.8% at $27.75, while Surebeam was gaining 25% to $16.50.TheStreet Premium Services
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