Breeze-Eastern Awarded Advanced Light Helicopter Rescue Hoist Contract.UNION, N.J. -- Breeze-Eastern, a Division of TransTechnology Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :TTLG TTLG Through the Looking Glass (book by Lewis Carroll - Alice in Wonderland) TTLG Through the Looking Glass (Looking Glass Studios fansite) ), announced today that it has been awarded a contract valued over $1.8 million from Hindustan Aeronautics Limited Hindustan Aeronautics Limited (HAL) is a major aerospace company under the Ministry of Defence headquartered in Bangalore, India. The company is mainly involved in manufacturing aircraft, aerospace, navigation and communication equipment. , Helicopter Division, Bangalore, India. The Breeze-Eastern HS-20200 electric rescue hoist system has been chosen as it best meets the rigid requirements for the Advanced Light Helicopter (ALH ALH Advanced Light Helicopter ALH Amplitude of Lateral Head (Displacement) ALH Alpha Hospitality Corporation (former stock symbol; now ALHY) ALH Advanced Liquid Hydrogen ) platform in performance, delivery, quality, and support. The rescue hoist systems are deliverable by March 31, 2006. Breeze-Eastern currently supplies Hindustan Aeronautics Limited with hydraulic rescue hoist systems for the ALH platform. "This contract is a direct result of listening to the customer and providing them with the best solution for their requirements. This award for the electric rescue hoist system solidifies our position as the hoist supplier for the ALH platform," stated Robert L. G. White, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of TransTechnology Corporation. TransTechnology Corporation,(http://www.transtechnology.com), operating as Breeze-Eastern, (http://www.breeze-eastern.com), is the world's leading designer and manufacturer of sophisticated lifting devices for military and civilian aircraft, including rescue hoists, cargo hooks, and weapons-lifting systems. The company, which employs approximately 170 people at its facility in Union, New Jersey, reported sales from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $62.9 million in the fiscal year ended March 31, 2005. INFORMATION ABOUT FORWARD-LOOKING STATEMENTS Certain statements in this press release constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the "Acts"). Any statements contained herein that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements in this press release are based on current beliefs, estimates and assumptions concerning the operations, future results, and prospects of the Company. As actual operations and results may materially differ from those assumed in forward-looking statements, there is no assurance that forward-looking statements will prove to be accurate. Forward-looking statements are subject to the safe harbors created in the Acts. Any number of factors could affect future operations and results, including, without limitation, the results of audits and inquiries into the Company's business practices; the Company's ability to provide a trading venue for its shares; determination by the Company to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose or acquire additional assets; general industry and economic conditions; events impacting the U.S. and world financial markets and economies; interest rate trends; capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. ; competition from other companies; changes in applicable laws, rules and regulations affecting the Company in the locations in which it conducts its business; the availability of equity and/or debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay in the amounts and on the terms necessary to support the Company's future business; and those specific risks that are discussed in the Company's previously filed Annual Report on Form 10-K for the fiscal year ended March 31, 2005. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information or future events. |
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