$1.2 million high security lock award.TORRANCE, Calif.--(BUSINESS WIRE)--Feb. 7, 1996--Hi-Shear Technology Corporation, Torrance, CA (AMEX AMEX See: American Stock Exchange :HSR HSR homogeneously staining regions. ), today announced that it was awarded a $1.2 million high security lock contract by the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Government for the delivery of the Company's newly designed mechanical combination locks. The Company expects initial deliveries will commence in fiscal year 1997 which begins on June 1, 1996. The Company believes a superior design and lower price were major factors in obtaining this award. "This is another important accomplishment for the Company in its diversification program," stated Thomas R. Mooney, Chairman and President. "This award confirms our continued efforts to further diversify our commercial products." Hi-Shear Technology will now become a volume supplier of high security locks to the U.S. Government and the commercial aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. . CONTACT: Hi-Shear Technology Corporation, Torrance Linda A. Nespole, 310/784-7881 |
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