AIRPORT SYSTEMS AWARDED MAJOR NAVAID CONTRACT WITH INDONESIA; TWO-YEAR CONTRACT VALUED AT $17.7 MILLION.OVERLAND PARK Overland Park, city (1990 pop. 111,790), Johnson co., NE Kans., a residential suburb of Kansas City; inc. 1960. There is printing and publishing, and the manufacture of apparel, aircraft parts, cement, prepared foods, salt, chemicals, marine accessories, and signs. , Kan.--(BUSINESS WIRE)--Nov. 7, 1996--Airport Systems International, Inc. (Nasdaq/NM:ASII) today announced that it has signed a $17.7 million contract with the Republic of Indonesia for the delivery of 19 DVORs (Doppler VHF (Very High Frequency) The range of electromagnetic frequencies from 30 MHz to 300 MHz. Omni Range equipment) and 22 DMEs (distance measuring equipment Distance Measuring Equipment (DME) is a transponder-based radio navigation technology that measures distance by timing the propagation delay of VHF or UHF radio signals. ). The turnkey contract also provides installation, flight inspection, training and other support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services over a two-year period. "This represents the largest contract ever for Airport Systems as well as an important milestone in our strategic plans to extend the Company's longer term record of growth," remarked Keith S Keith may refer to: People with the given name Keith:
Cowan noted that the Indonesian project, once finalized, will represent more than a threefold increase in the Company's backlog which currently approximates $6 million and that the contract value is 125% of fiscal year 1996 sales of $14.2 million. He remarked, "The magnitude of this contract clearly will have a significant positive impact on our financial performance over the next two years. Our role as the prime contractor for this program will improve our qualifications for performing similar turnkey projects in the future. Further, our selection for this project as well as other recent awards we have received, firmly reinforce our position as the leading supplier of navigation systems A GPS-based electronic system in a car or truck that provides a real time map of the vehicle's current location as well as step-by-step directions to a programmed destination. See GPS and vehicle tracking. to the Asia/Pacific region. "We appreciate the outstanding support provided by the U.S. Government which was a critical factor leading to our selection over much larger foreign competitors. Important assistance was received from the Export/Import Bank of the United States Bank of the United States, name for two national banks established by the U.S. Congress to serve as government fiscal agents and as depositories for federal funds; the first bank was in existence from 1791 to 1811 and the second from 1816 to 1836. , the U.S. Trade Development Agency, the U.S. Department of Transportation and Secretary Federico Pena, and the U.S. Department of Commerce and Secretary Mickey Kantor. These agencies helped insure that the jobs related to this program will be American jobs," he concluded. Michael M. Warner, vice president - business development, said, "This contract with the Directorate General of Air Communications will result in a significant enhancement to the air navigation air navigation, science and technology of determining the position of an aircraft with respect to the surface of the earth and accurately maintaining a desired course (see navigation). system within Indonesia and that geographic region. The contract also marks an encouraging start to what we believe will be a pattern of other new navaid awards internationally. Recent signs point to encouraging headway on a number of major construction projects which involve new airports or significant upgrades and expansion of existing facilities. In Indonesia and the Asia/Pacific region alone, we believe the potential for navaid business over the next several years exceeds $200 million." Airport Systems International, Inc. designs, manufactures, markets and installs ground-based equipment (navaids) and airfield signs to aid the in-flight navigation and ground movement of aircraft. The Company's products are used worldwide to guide the navigation of aircraft in various phases of a flight and in all visibility conditions. CONTACT: Airport Systems International, Inc., Overland Park Thomas C. Cargin, 913/495-2614 Vice President-Finance and Administration |
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