Barringer Technologies Inc. Receives Phase II Approval From FAA for Automated Luggage Screening System.WARREN, N.J.--(BUSINESS WIRE)--July 28, 1999-- Barringer Technologies Inc. (Nasdaq: BARR, BARRW), the world's leading developer, manufacturer and marketer of trace drug and explosive detection equipment, announced today that it has received approval from the Federal Aviation Administration to proceed with Phase II development work on the Company's automated luggage explosives detection system. The Phase II work involves a detailed engineering design for the detection system. Under the Company's agreement with the FAA, the Company completed Phase I work on the project earlier this year. The Phase II work will be based on the Company's initial design concepts and is expected to be completed by December 31, 1999. If approved, Phase III of the project would include the fabrication of a prototype unit. Commenting on today's announcement, Kenneth S. Wood, the President of Barringer, said "Based upon our design concept, we have been authorized to proceed with Phase II. Building on our core technology, which has been field tested in our basic IONSCAN product line, we believe that our automated system will process checked baggage at rates well in excess of FAA specifications. Various portions of the design have already been developed and we are confident that we can complete the design of a commercially viable system that will exceed customer performance expectations." Headquartered in Warren, New Jersey, Barringer Technologies Inc. is principally engaged in developing, manufacturing and marketing of high technology products for drug and explosive detection and other security and industrial applications. The IONSCAN is the Company's proprietary trace particle drug and explosives detection unit. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. When used in this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, the following: general economic and political conditions, budgetary processes, the timing of government procurements, other conditions in the markets for the Company's products, unexpected design, manufacturing or shipping delays, and other factors previously described by the Company. Other factors may be described from time to time in the Company's public filings with the Securities and Exchange Commission, news releases and other communications. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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