Environmental Tectonics Corporation's International Logistics Support Division Awarded Contract from Federal Aviation Administration for Hypobaric Chamber Upgrade and Modernization Program
SOUTHAMPTON, Pa., Jan. 18, 2011 /PRNewswire/ -- Environmental Tectonics Corporation's (OTC Bulletin Board: ETCC) ("ETC" or the "Company") International Logistics Support (ILS) Division today announced that they have entered into a contract with the Federal Aviation Administration (FAA) to provide an upgrade and modernization of their High Altitude (Hypobaric) Research & Training Chambers located at the Civil Aerospace Medical Institute (CAMI) in Oklahoma City, OK.
These chambers are used to train flight crews in the physiological hazards associated with high altitude flight and the dangers of flying in instrument meteorological conditions (IMC). Additionally, the equipment is used to improve general aviation safety for commercial, corporate and general aviation pilots in support of the flight plan initiative.
ETC will provide the materials, equipment and labor necessary to implement the required on-site modifications. On-site testing and training is scheduled to follow the completion of the modifications. The project is scheduled for completion in September, 2011.
"The FAA is a highly respected organization which appreciates the value of research and emergency preparedness training. We look forward to working with the FAA, a long time customer of ours, and providing the latest technology to enhance their programs," said Dave Hales, Director of ETC's ILS division.
About ILS
The ILS group at ETC is responsible for providing contracted operation and post-installation support including; program management, system operators and instructors, preventive and corrective maintenance, provisioning and spare parts supply, support and test equipment, training, technical data and documentation, life cycle and logistics support analysis, test and evaluation, equipment upgrade and modernization and facility design and construction. Our customers include both foreign and domestic commercial accounts, civilian agencies and militaries.
Environmental Tectonics Corporation was incorporated in 1969 in Pennsylvania, USA. For over forty years, we have provided our customers with products, service and support. Innovation, continuous technological improvement and enhancement, and product quality are core values and critical to our success. We operate in two business segments – Training Services Group ("TSG") and Control Systems Group ("CSG"). Our core technologies in TSG include the design, manufacture and sale of training services which includes (1) software driven products and services used to create and monitor the physiological effects of flight; (2) high performance jet tactical flight simulation, and; (3) driving and disaster simulation systems, and in CSG include: (1) steam and gas sterilization; (2) testing and simulation devices for the automotive industry, and; (3) hyperbaric and hypobaric chambers. Product categories included in TSG are Authentic Tactical Fighting Systems (ATFS), Aircrew Training Systems (ATS) and disaster management systems (ADMS). CSG includes sterilizers, environmental control devices and hypo/hyperbaric chambers along with parts and service support.
Discussions of some of the matters contained in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and as such, may involve risks and uncertainties. We have based these forward-looking statements on our current expectations and projections about future events or future financial performance, which include implementing our business strategy, developing and introducing new technologies, obtaining, maintaining and expanding market acceptance of the technologies we offer, and competition in our markets. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
These forward-looking statements include statements with respect to the Company's vision, mission, strategies, goals, beliefs, plans, objectives, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business of the Company, including, but not limited to, (i) projections of revenues, costs of materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure, other financial items and the effects of currency fluctuations, (ii) statements or plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions of customers, suppliers, competitors or regulatory authorities, (iii) statements of future economic performance, (iv) statements of assumptions and other statements about the Company or its business, (v) statements made about the possible outcomes of litigation involving the Company, (vi) statements regarding the Company's ability to obtain financing to support its operations and other expenses, and (vii) statements preceded by, followed by or that include terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "future," "predict," "potential," "intend," or "continue," and similar expressions. These forward-looking statements involve risks and uncertainties which are subject to change based on various important factors. Some of these risks and uncertainties, in whole or in part, are beyond the Company's control. Factors that might cause or contribute to such a material difference include, but are not limited to, those discussed in our Annual Report on Form 10K for the fiscal year ended February 26, 2010, in the section entitled "Risks Particular to Our Business." Shareholders are urged to review these risks carefully prior to making an investment in the Company's common stock.
The Company cautions that the foregoing list of factors that could affect forward-looking statements by ETC is not exclusive. Except as required by federal securities law, the Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Contact: Duane D. Deaner, CFO |
Tel: 215-355-9100 (ext. 1203) |
Fax: 215-357-4000 |
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SOURCE Environmental Tectonics Corporation
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