Airport Systems Acquires Exclusive Distribution Rights for Airport Lighting Products.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)--July 13, 1998--Airport Systems International, Inc. (Nasdaq/NM: ASII) today announced that it has signed a marketing and manufacturing agreement with Idman Airfield Products, a manufacturer of airport lighting products based in Finland. Idman, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Philips Electronics, N.V. (NYSE NYSE See: New York Stock Exchange : PHG), manufactures a complete line of airport lighting including approach, taxiway taxiway: see airport. and runway lights. Under the terms of the agreement, Airport Systems will have exclusive marketing and manufacturing rights for these products in North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Airport Systems will also have non-exclusive distribution rights in a number of other major markets. Keith S Keith may refer to: People with the given name Keith:
v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our excellent relationship with the FAA. Combining Idman's airport lighting with the runway and taxiway signage line we acquired several years ago provides us with a complete line of products for guiding aircraft from their departure gate to arrival at their destination gate. No other company in the industry can offer such an extensive line of products for aircraft guidance." Cowan added, "The Idman line of airport lighting is well established in Scandinavia, Europe and several other international markets. Our initial focus in this partnership will be to secure FAA certification for these products. We also plan to assist in the development of new products and enhancements to existing lighting items. Although these activities will involve some incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. expense over the next several quarters, we expect to have a complete marketing program in place by the end of the current fiscal year. We anticipate that the manufacturing performed under this agreement will complement the capabilities of our existing facilities and production processes. We estimate that worldwide expenditures for airport lighting will surpass $150 million annually over the next five years. That projection represents meaningful new business for Airport Systems that matches well with the positive outlook for increasing demand for our conventional navaids. Airport Systems International, Inc. designs, manufactures, markets and installs ground-based equipment (navaids) and airfield signage 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
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