Star Navigation Receives Purchase Order for Its STAR-A.D.S. (TM) and STAR-ISMS(R) Lite On-Board Systems
June 03 2014 - 7:00AM
Marketwired
Star Navigation Receives Purchase Order for Its STAR-A.D.S. (TM)
and STAR-ISMS(R) Lite On-Board Systems
TORONTO, ONTARIO--(Marketwired - Jun 3, 2014) - Star Navigation
Systems Group Ltd. (TSX-VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the
"Company") announces that it has received a firm purchase order
from one of its distributors in Asia for Five (5) STAR-A.D.S.™
systems and Four (4) STAR- ISMS® Lite systems, together with
associated communications and reporting services.
Mr. Viraf Kapadia, CEO of Star Navigation stated:
"This is a great opportunity for Star to provide the services
and benefits of our STAR-A.D.S. ™ and STAR-ISMS® Lite systems to
both regional and business jets, and to obtain further Supplemental
Type Certificates to add to our portfolio. We are also looking
forward to enhancing our long-term relationships with our
distributor network, which will provide increased visibility to
Star and its increasing number of product offerings in both the
STAR-ISMS and STAR -MMI Divisions.
This systems contract is valued at over $1,500,000, based on
list price. In addition, the initial five (5) year term of the
services contract will generate annual services revenue. It also
confirms the appeal of our solutions not only for commercial
airlines, but also for regional and business aircraft operators as
well."
About Star Navigation:
(www.star-navigation.com)
Star Navigation Systems Group Ltd. owns the exclusive worldwide
license to its proprietary, patented In-flight Safety Monitoring
System, STAR-ISMS®, the heart of the STAR-A.D.S. ™ System. It is
the first system in the world to feature in-flight data-analysis,
monitoring and diagnostics with a real-time connection between
aircraft and ground. Its real-time capability of tracking
performance trends and predicting incident-occurrence enhances
aviation safety and improves fleet management while reducing costs
for the operator.
Star's MMI Division designs and manufactures high performance
mission critical flight deck, flat panel displays for defence and
commercial aviation industries worldwide. Some of the Star MMI
Division's current customers include;
- Lockheed Martin - USA
- Raytheon - USA
- BAE - UK
- Jepico - Japan
- IRTS - France
Certain statements contained in this News Release may constitute
forward-looking statements. When used in this document, the words
"may" "would", "could", "will" and similar expressions, as they
relate to Star or its management are intended to identify
forward-looking statements. Such statements reflect Star's current
views with respect to future events and are subject to certain
risks, uncertainties and assumptions. Many factors could cause
Star's actual performance or achievements to vary from those
described herein. Should one or more of these factors or
uncertainties materialize, or should assumptions underlying
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the content of this release.
Star Navigation Systems Group Ltd.Viraf KapadiaCEO(416) 252-2889
Ext.
230viraf.kapadia@star-navigation.comwww.star-navigation.comInvestor
Relations:Frontier Merchant Capital Groupinfo@frontiermcg.comPublic
Relations & Media interviews:Nelson HudesHudes Communications
International(905) 660-9155nelson@hudescommunications.com
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