Astronics Corporation Wins $12 Million Air Canada Contract
December 21 2005 - 9:14AM
PR Newswire (US)
Selected Supplier for Passenger Electronics System EAST AURORA,
N.Y., Dec. 21 /PRNewswire-FirstCall/ -- Astronics Corporation
(NASDAQ:ATRO), a leader in advanced high-performance lighting and
electrical distribution systems for the global aerospace industry,
today announced its subsidiary, Astronics Advanced Electronic
Systems (AES), has signed an agreement with Air Canada to provide
its EmPower(R) In-Seat Power System for approximately 100 aircraft
with the option for Air Canada to purchase additional systems for
over 30 more aircraft. The power system includes seat outlets and
power supplies that allow passengers to power personal electronic
devices with aircraft power. The program, part of a larger upgrade
program planned by Air Canada, launches in early 2006 and is
expected to be completed in approximately 18 months. The contract
is valued at approximately $12 million, plus $2 million in optional
purchases. Peter Gundermann, President and CEO of Astronics Corp.,
commented, "Our selection for this major retrofit program was a
result of Astronics' engineering and product expertise and the
advanced features offered on the current models of our in-seat
power systems. In addition, our ability to meet tight delivery
commitments contributed to our being awarded the contract for this
aggressive program." The EmPower(R) 110V AC In-Seat Power System
will be installed on Air Canada's aircraft, including the CRJ705,
A320, and several configurations of B767 aircraft. The EmPower(R)
System provides the highest power output available today with 150
watts per outlet of 110V AC, 60 Hz power. The system also boasts
high efficiency and reliability in a lightweight package that meets
the requirements of today's power-hungry laptops and personal
electronic devices. The EmPower(R) 110V AC outlet is compatible
with plugs from over 145 countries. Mr. Gundermann added, "Our
in-seat power product line is dependent on major airline retrofit
and upgrade programs such as this. To win these programs we need to
continually advance our products' capabilities and stay ahead of
the curve on technology and trends. Programs like this confirm the
technical performance of our products and provide a solid
foundation for the future. "As airlines expand their long haul
businesses, we believe they will want to enhance their customers'
flight experience, as Air Canada is doing, and therefore, will be
choosing more frequently to include in-seat power systems
throughout the cabins for all passengers. We are the leader in this
market, and we believe will benefit from this trend," he concluded.
ABOUT AIR CANADA Air Canada, together with Air Canada Jazz and
other business units of parent company ACE Aviation Holdings Inc.
(TSE:ACE.RV) provide scheduled and charter air transportation for
passengers and cargo to more than 150 destinations, vacation
packages to over 90 destinations, as well as maintenance, ground
handling and training services to other airlines. ABOUT ASTRONICS
CORPORATION Astronics Corporation is a leader in advanced, high
performance lighting, electrical generation, control and
distribution systems for the global aerospace industry. Its
strategy is to expand the value and content it provides to various
aircraft platforms through product development and acquisition.
Astronics Corporation, and its wholly-owned subsidiaries Astronics
Advanced Electronic Systems and Luminescent Systems Inc., have a
reputation for high quality designs, exceptional responsiveness,
strong brand recognition and best-in-class manufacturing practices.
For more information on Astronics and its products, visit its
website at http://www.astronics.com/. Safe Harbor Statement This
press release contains forward-looking statements as defined by the
Securities Exchange Act of 1934. One can identify these
forward-looking statements by the use of the words "expect,"
"anticipate," "plan," "may," "will," "estimate" or other similar
expression. Because such statements apply to future events, they
are subject to risks and uncertainties that could cause the actual
results to differ materially from those contemplated by the
statements. Important factors that could cause actual results to
differ materially include the Company's ability to successfully
execute the contract, changes in demand for products, changes in
customers preferences, the state of the aerospace industry, and
other factors which are described in filings by Astronics with the
Securities and Exchange Commission. The Company assumes no
obligation to update forward-looking information in this press
release whether to reflect changed assumptions, the occurrence of
unanticipated events or changes in future operating results,
financial conditions or prospects, or otherwise. DATASOURCE:
Astronics Corporation CONTACT: David C. Burney, Chief Financial
Officer of Astronics Corporation, +1-716-805-1599 ext. 159, Fax
+1-716-805-1286, or email Web site: http://www.astronics.com/
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