API Technologies Announces $8 Million Order from Fortune 500 Global Defense Contractor
March 03 2010 - 8:30AM
PR Newswire (US)
WINDBER, Pa., March 3 /PRNewswire-FirstCall/ -- API Technologies
Corp. (BULLETIN BOARD: ATNY) ("API" or the "Company"), a prime
contractor in secure communications, electronic components and
subsystems to the global defense and aerospace industries, has been
selected by a global Fortune 500 defense contractor to provide
high-reliability magnetic components for use in radio
communications systems deployed throughout the military and defense
markets. The multi-year contract is valued at over $8 million and
will be produced at the Company's Canadian facility under its
Filtran brand. The customer will integrate API's complex magnetic
components into a number of radio communications systems in support
of the U.S. military's Joint Tactical Radio System (JTRS)
requirements as well as network-centric operations worldwide.
Stephen B. Pudles, Chief Executive Officer of API Technologies
Corp., stated, "This contract, together with other recent client
orders, is further proof of the confidence API's global customers
have in our Company's products and quality." About API Technologies
Corp. The Company is a prime contractor in sophisticated
electronics, highly engineered systems, secure communications and
electronic components and subsystems to the global defense and
aerospace industry. API Technologies' customers include the
governments of the U.S., Canada, the United Kingdom, NATO and the
European Union, as well as many of the leading Fortune 500
companies. The Company is engaged in providing innovative design,
engineering and manufacturing solutions to its customers. API
Technologies trades on the OTC Bulletin Board under the symbol
ATNY. For further information, please visit the company website at
http://www.apitech.com/. Safe Harbor for Forward-Looking Statements
Except for statements of historical fact, the information presented
herein constitutes forward-looking statements. All forward-looking
statements are subject to certain risks, uncertainties and
assumptions which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. These risks and uncertainties,
which are more fully described in the Company's Annual and
Quarterly Reports filed with the Securities and Exchange
Commission, include but are not limited to, general economic and
business conditions, our ability to integrate and consolidate our
operations, our ability to expand our operations in both new and
existing markets, and the effect of growth on our infrastructure.
Should one or more of these risks or uncertainties materialize, or
should the assumptions prove incorrect, actual results may vary in
material aspects from those currently anticipated. All information
in this release is as of the date hereof. We undertake no duty to
update any forward-looking statement to conform the statement to
actual results or changes in the Company's expectations. Except as
required by law, the Company assumes no obligation to update or
revise any forward-looking statements in this press release,
whether as a result of new information, future events, or
otherwise. DATASOURCE: API Technologies Corp. CONTACT: Jonathan
Pollack, Executive Vice President, API TechnologiesCorp.,
1-877-API-0-API, investors@apitech.com Web Site:
http://www.apitech.com/
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