Breeze-Eastern Awarded Navy Repair and Overhaul Contract.Business Editors UNION, N.J.--(BUSINESS WIRE)--April 11, 2002 The Naval Inventory Control Point, Philadelphia, has announced that Breeze-Eastern, a division of TransTechnology Corporation (NYSE NYSE See: New York Stock Exchange :TT), is being awarded a contract for repair and overhaul of 34 types of rescue hoists, cargo hooks, and other items used in support of H-3, H-53, and H-60 helicopters. The initial contract is valued at $6.5 million and contains options, which, if exercised, will bring the total cumulative value to $13 million. All of the work involved under the contract will be performed at the company's facility in Union, N.J., and is expected to be completed by June 2005. "This contract represents another milestone in the ever-growing relationship between Breeze-Eastern and the US Navy. Our goal is to keep the Navy operational and mission-ready with regards to all Breeze-Eastern products," stated Robert L.G. White, President of Breeze Eastern and TransTechnology's Aerospace Products Group. Breeze-Eastern, (http://www.breeze-eastern.com) is the world's leading manufacturer of helicopter rescue hoists, cargo hooks and motion control systems and actuators for aerospace and weapon system applications. TransTechnology Corporation (http://www.transtechnology.com) headquartered in Liberty Corner, New Jersey, designs and manufactures aerospace products with over 380 people at its facilities in New Jersey, Connecticut, and California. Total aerospace products sales were $81 million in the fiscal year ended March 31, 2001. INFORMATION ABOUT 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. 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created in the Acts. Any number of factors could affect future operations and results, including, without limitation, the Company's ability 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 some or all of the business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets proposed for divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). for the consideration currently estimated to be received by the Company or within the timeframe anticipated by the Company; the Company's ability to arrive at a mutually satisfactory amendment of its credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities with its lenders, if required; in the event of divestiture, the Company's ability to be profitable with a smaller and less diverse base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army that will generate less revenue; the value of replacement operations, if any; 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/or to provide adequate financing for parties interested in purchasing operations identified for divestiture; and those specific risks that are discussed in the Company's previously filed Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended March 31, 2001. 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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