AeroV Finalizes Partnership with ARINC, Launches Industry-Leading Service.Business Editors WESTPORT, Conn.--(BUSINESS WIRE)--Sept. 20, 2000 AeroV and ARINC ARINC Aeronautical Radio, Inc. ARINC Aircraft Radio Incorporated ARINC Aeronautical Research Incorporated Announce AeroCommerce Platform to Accelerate Procurement Automation for the Aerospace Industry AeroV Inc., a subsidiary of First Aviation Services (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FAVS FAVS Fabbrica Armi Valle Susa FAVS Fighter Attack Visual System ), and ARINC Incorporated today announced the signing of a definitive agreement under which ARINC has acquired a 25% equity interest in AeroV. This agreement formalizes the Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. announced June 22, 2000 and creates an exclusive partnership between AeroV and ARINC to operate the aerospace industry's leading business-to-business e-commerce service. AeroV is entering its second full month of operation following its July 27, 2000 launch, and continues to roll out market-leading features. AeroV's AeroCommerce Platform currently is the only procurement platform developed exclusively for the Aerospace industry that seamlessly integrates SPEC (1) See specs and specification. (2) (SPEC) (Standard Performance Evaluation Corporation, Warrenton, VA, www.specbench.org) An organization founded in 1988 to establish standard benchmarks for computers. 2000 EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. messaging, real-time inventory and order processing information, and express delivery services' tracking status. The combination gives buyers complete purchasing visibility, from parts search through package delivery, while reducing suppliers' costs to reach a greater audience of potential customers. About AeroV AeroV Inc. is a subsidiary of Westport, CT-based First Aviation Services Inc. First Aviation is a worldwide leader in providing services to aircraft operators of some of the most widely used military, commercial and general aviation aircraft. For more information about AeroV, visit the company's Web site at www.AeroV.com. About First Aviation First Aviation is a worldwide leader in providing services to aircraft operators of some of the most widely used military, commercial and general aviation aircraft. For more information visit the company's Web site at www.AeroV.com and www.firstaviation.com. About ARINC ARINC develops and operates communications and information processing information processing: see data processing. information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. systems for airports, aviation and transportation industries, and provides system engineering and integration solutions to the government and industry. Founded in 1929 to provide reliable and efficient radio communications for the airlines, ARINC is headquartered in Annapolis, Maryland “Annapolis” redirects here. For other uses, see Annapolis (disambiguation). Annapolis is a city in the United States of America with a population of 36,408 (July 2006 est.), the capital of the State of Maryland and the county seat of Anne Arundel County. , USA, with over 2,800 employees worldwide. Additional information on ARINC is available at www.ARINC.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Information included in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are not statements of historical facts, but rather reflect the Company's current expectations concerning future events and results. Such forward-looking statements, including those concerning the Company's expectations, involve known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, that may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In evaluating such statements as well as the future prospects of the Company, specific consideration should be given to various factors, including the ability of the Company to attract additional strategic partners to AeroV, the ability to attract customers and users of the online marketplace system, and the need and availability of additional financing, and other items that are beyond the Company's control and may cause actual results to differ from management's expectations. |
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