Barringer Awarded Major FAA, European and Kuala Lumpur Airport Trace Explosive Detection Contracts.MURRAY HILL Murray Hill may refer to one of the following places:
FAA initial awards valued at $2.6 million, plus options valued at over $10 million; International awards valued at $3.4 million Barringer Technologies Inc. (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 : BARR BARR Board on Agriculture and Renewable Resources (Washington, DC, USA) BARR Bureau of Aeronautics Resident Representative , BARRW) today announced it had received awards from the Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control (FAA), a major European Aviation Authority and the Kuala Lumpur Kuala Lumpur (kwä`lə l  m`pr), city (1990 est. pop. airport to install trace explosives detection systems in major airports around the world. These initial awards are for 90 IONSCAN units and include options to purchase an additional 200 units. The initial awards are valued at $6 million, of which $1.3 million was recognized in the first quarter of 1997. The potential value of these awards and options are approximately $16 million. The initial award by the FAA is part of a multi-year program announced today by Vice President Al Gore Noun 1. Al Gore - Vice President of the United States under Bill Clinton (born in 1948) Albert Gore Jr., Gore and the FAA to implement the recommendations of the Vice President's commission to improve airport and passenger security by installing advanced technology explosives detection devices in U.S. airports. Stanley S. Binder, chief executive of Barringer Technologies, stated, "these awards in the United States, Europe and Asia reinforce Barringer's position as the leader in trace detection technology. Barringer is committed to working with the FAA and other aviation authorities to keep the world's airports safe. Barringer was the sole awardee both in Europe and Kuala Lumpur in rigorous, highly competitive international procurements. "These awards are a clear recognition of our price-performance superiority," Binder concluded. The company's principal product, the IONSCAN, is currently in use for security and drug interdiction purposes in many airports, and at military bases, government facilities, transportation facilities and other institutions. The matters set forth in this news release are forward-looking statements. Although Barringer believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that its expectations will be realized. Forward-looking statements involve known and unknown risks that may cause Barringer's actual results for future periods to differ materially from management's expectations. Headquartered in Murray Hill, New Jersey
CONTACT: Barringer Technologies, Murray Hill Richard Rosenfeld, 908/665-8200 or Abernathy MacGregor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Steven Bruce/Lauren Teggelaar 212/371-5999 |
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