Astronics Wins U.S. Air Force Contract for Airfield Lighting
August 25 2011 - 8:33AM
Business Wire
Astronics Corporation (NASDAQ: ATRO), a leader in advanced,
high-performance lighting, electrical power and automated test
systems for the global aerospace and defense industries, today
announced that its wholly owned subsidiary, Astronics DME
Corporation, was awarded an Indefinite Delivery/Indefinite Quantity
(ID/IQ) contract to provide LED airfield lighting for the U.S. Air
Force, with a maximum value of $7.4 million. The five-year contract
will replace taxiway lighting fixtures at Air Force bases in the
continental U.S., Alaska, and Hawaii.
The Air Force intends to release specific delivery orders under
the ID/IQ contract over the course of the contract. An initial
release for 600 fixtures, with a value of $72,000, was awarded to
Astronics DME, with work to begin immediately.
“This LED lighting technology provides the Air Force with a
product that offers energy savings and lowers life-cycle costs, and
this contract is a great win for us,” noted Peter Gundermann,
President and CEO of Astronics Corporation.
“We believe we are well positioned to compete successfully for
future orders under this contract,” added Mr. Gundermann. “We also
expect that other airfield lighting, specifically runways, will
eventually move to LED technology – and that represents an even
larger opportunity for us.”
Through its DME subsidiary, Astronics is a premiere global
supplier of airfield lighting products with decades of experience
designing and manufacturing navigational lighting aids and airfield
lighting products. In addition to its manufacturing capabilities,
Astronics also specializes in providing design-build NavAids
lighting solutions to simplify lighting installation projects and
provide seamless airfield upgrades for its clients.
ABOUT ASTRONICS CORPORATION
Astronics Corporation is a leader in advanced, high-performance
lighting, electrical power and automated test systems for the
global aerospace and defense industries. The Company’s strategy is
to develop and maintain positions of technical leadership in its
chosen aerospace and defense markets, to leverage those positions
to grow the amount of content and volume of product it sells to
those markets and to selectively acquire businesses with similar
technical capabilities that could benefit from our leadership
position and strategic direction. Astronics Corporation, and its
wholly-owned subsidiaries, DME Corporation, Astronics Advanced
Electronic Systems Corp. and Luminescent Systems Inc., have a
reputation for high-quality designs, exceptional responsiveness,
strong brand recognition and best-in-class manufacturing practices.
The Company routinely posts news and other important information on
its website at www.Astronics.com.
For more information on Astronics and its products, visit its
website at www.Astronics.com.
Safe Harbor Statement
This news 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 state of the aerospace industry, the
market acceptance of newly developed products, internal production
capabilities, the timing of orders received, the status of customer
certification processes, the demand for and market acceptance of
new or existing aircraft which contain the Company’s products,
customer preferences, 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 news release whether to reflect changed
assumptions, the occurrence of unanticipated events or changes in
future operating results, financial conditions or prospects, or
otherwise.
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