ASE Announces Exclusive Services Agreement With Honeywell.Business Editors & Aerospace/Aviation Writers ST. PAUL, Minn.--(BUSINESS WIRE)--May 1, 2002 Aero Systems Engineering, Inc. (Nasdaq:AERS AERS Adverse Event Reporting System (database of drug adverse reactions) AERS Association of Educators in Radiological Sciences AERS Army Educational Requirements System AERS Acute Equine Respiratory Syndrome AERS Access/Egress Roadway System ), a worldwide leader in wind tunnel and jet engine testing facilities engineering, announced today that it has signed an exclusive services agreement with Honeywell to provide design, engineering and fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. services for Honeywell engine test cells sold to third parties. ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. will function as the exclusive subcontractor to Honeywell for these services on contracts where Honeywell is the prime contractor providing new engine test cells or equipment upgrades to customers that test Honeywell engines. The agreement allows both parties the potential to grow their respective markets while providing an increased level of support and services to their military and commercial customers both domestically and internationally. Charles Loux, the President of Aero Systems Engineering, Inc., indicated that he was very pleased with the agreement with Honeywell as it will allow ASE to expand its test cell presence utilizing its specialized testing technology in conjunction with the strength of Honeywell in the OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and engine marketplace. Comments regarding the ability of the Company to achieve revenues in the future and other forward-looking statements involve risks and uncertainties, including but not limited to general economic conditions, the condition of the aerospace industry, signing of future contracts, competitive factors and other risks detailed from time to time in the Company's reports to the SEC, including the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year end December 31, 2001. Actual results may vary materially from those anticipated. About Aero Systems Engineering Aero Systems Engineering, Inc. (ASE) is a highly skilled and experienced engineering company, which designs and supplies aerospace test facilities. ASE is a leader in design and construction of engine test cells and wind tunnels for testing aerospace vehicles and propulsion systems. ASE is ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified. Aero Systems Engineering, Inc. common stock is listed on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (SM) under the symbol: AERS. Company Contacts For further information, contact Steven R. Hedberg, Secretary and Treasurer of Aero Systems Engineering, Inc. (ASE), tel 651-220-1222. |
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