Phoenix Aerospace Inc. Is in Discussions With a Major Defense Contractor to Supply Approximately $40 Million of Flight Line S...
July 28 2011 - 05:08PM
Marketwired
Phoenix International Ventures, Inc. (OTCBB:
PIVN) announced here today that its wholly owned subsidiary,
Phoenix Aerospace Inc. ("PAI"), is in discussions with a major
defense contractor to provide approximately $40 Million of Flight
Line Support Equipment to such potential customer over a five year
period. There can be no assurance that PAI will be awarded such
contract or that, if awarded, such contract will prove to be
profitable or otherwise beneficial to the Company.
About Phoenix International Ventures, Inc.
Phoenix International Ventures, Inc. of Carson City, Nevada, was
established in order to acquire and develop business in the defense
and aerospace market. The company has acquired 100% of Phoenix
Aerospace Inc. which specializes in manufacturing, remanufacturing
and upgrading of Ground Support Equipment (GSE) which is primarily
used to support military aircraft.
Certain statements in this news release by Phoenix International
Ventures, Inc. are forward-looking within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking
information is subject to risk and uncertainty. Certain statements
in this Press Release may contain forward-looking information that
involves risk and uncertainty, including but not limited to, the
Company's ability to fund ongoing operations and to complete its
obligations under the government and/or customer contract and its
other ongoing commitments. Future results and trends depend on a
variety of factors, including the Company's successful execution of
internal performance plans; product development and performance;
government bid and funding availability uncertainty; other
regulatory uncertainties; performance issues with key suppliers and
subcontractors; and the ability to adequately finance operations
including meeting its debt obligations, fund manufacturing and
delivery of products.
Contact: Zahir Teja Email Contact