Breeze-Eastern Delivers First Rescue Hoist to China.UNION, N.J. -- Breeze-Eastern, a division of TransTechnology Corporation (NYSE NYSE See: New York Stock Exchange :TT), announced today that it has delivered the first Breeze-Eastern HS-29700 Electric Rescue Hoist System to Changhe Aircraft Industries Corporation Changhe Aircraft Industries Corporation is a Chinese helicopter manufacturer and supplier to the People's Liberation Army of China. The company is based in town of Jingdezhen in Jiangxi province. (CAIC CAIC Colorado Avalanche Information Center CAIC Caribbean Association of Industry and Commerce CAIC California Alliance for Inclusive Communities CAIC Canadian Association of Interventional Cardiology CAIC Cult Awareness and Information Centre ) for installation on the Z-11 Helicopter. The Breeze-Eastern HS-29700 Electric Rescue Hoist System was recommended for installation and certification on the Chinese manufactured Z-11 helicopter by the Chinese Helicopter Research and Development Institute. The supply of the hoist is being coordinated through Aero Leader International Ltd., Breeze-Eastern's sole and exclusive representative for the Z11 Helicopter in China. The installation and certification of the hoist will be performed by CAIC at their facility in Jingdezhen, People's Republic of China. "This delivery to CAIC of our HS-29700 Electric Rescue Hoist System represents an important step in the introduction of Breeze-Eastern Rescue Hoists into the People's Republic of China and makes Breeze-Eastern one of the first U.S. companies to be selected to provide equipment for the Z-11," 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. "Following on the success of the HS-29700 system in the U.S and other international markets, this order represents a significant opportunity for participation in the growing Chinese helicopter market." 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 180 people at its facility in Union, New Jersey, reported sales of $64.6 million in the fiscal year ended March 31, 2004. 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 complete the refinancing of its senior and subordinated credit facilities on terms and conditions acceptable to the Company; 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 Company's ability to satisfy the listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. of the NYSE or any other national exchange on which its shares are or will be listed or otherwise provide a trading venue for its shares; the value of replacement operations, if any; 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 additional existing 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 ability of the company to renew its collective bargaining agreement The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. on terms and conditions acceptable to the company; 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 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, 2004. 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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