Local Bucks County Company ETC® Celebrates the Award of Three Major Contracts Totaling $92 Million Dollars from U.S. Air Force and U.S. Navy
SOUTHAMPTON, Pa., July 13 /PRNewswire-FirstCall/ -- Over the last eighteen months, Bucks County, PA small business manufacturer, Environmental Tectonics Corporation (OTC Bulletin Board: ETCC) ("ETC" or the "Company") has been awarded three major aeromedical equipment contracts totaling $92 million dollars for the new joint-service Aeromedical Center of Excellence (COE) complex at Wright Patterson Air Force Base (WPAFB) in Dayton, Ohio. ETC is scheduled to provide a total of six training and research devices for the COE complex including: an Authentic Tactical Flight Simulator-400 (ATFS-400) for pilot training, a GYROLAB GL-6000 Disorientation Research Device for human factors research, and a suite of four Altitude Chambers used for research and pilot physiology training. The equipment will be manufactured by ETC Corporate Headquarters in Southampton, Pennsylvania and is expected to result in business opportunities for ETC's numerous subcontractors and suppliers, creating significant positive economic impact throughout the Commonwealth of Pennsylvania. Delivery of the equipment is scheduled to start in 2011 with the final equipment being delivered in 2013.
The new 680,000 square-foot Center of Excellence (COE) at WPAFB is a consolidation effort to merge training and research operations for the U.S. Air Force and United States Navy. Due to Base Realignment and Closure (BRAC) decisions made in 2005, the U.S. Air Force's 711th Human Performance Wing, the U.S. Navy's Aerospace Medical Research Laboratory and the U.S. Air Force's Physiological Training Unit will be moved to the COE.
The ATFS-400 centrifuge will be built for the new COE facility and will be commissioned to commence pilot training in 2012. The ATFS-400 represents the latest in simulation technology. Currently one of only three in the world, it features high-fidelity 'flyable' aircraft cockpit modules that are paired with a high-performance, sustained-G motion-base to deliver the same performance and 'feel' of an actual aircraft, albeit in a safe and controlled environment.
ETC will also supply a GL-6000 Disorientation Research Device to support human factors research in high performance aircraft environments for the U.S. Navy. The GL-6000 features sustained-G capability up to 3Gs and six distinct degrees of freedom (motion). Additionally, the GL-6000 can support operational research including Heads-Up Displays, flight control ergonomics and instrument displays.
The Research Altitude Chamber system is a suite of four altitude chambers. The chambers will be used for investigation of physiological issues associated with exposure to medium and high altitudes as well as equipment development, qualification and human rating. The Research Altitude Chamber suite will be delivered and commissioned in 2013 as a turn-key project.
ETC has a proud history of over 25 years of supplying aeromedical equipment to the U.S. Government. Equipment built and delivered includes centrifuges, altitude chambers, and disorientation training and research devices. The U. S. Air Force centrifuge at Holloman Air Force Base was installed and commissioned by ETC in 1985. After 25 years and 32,000 pilots trained, this centrifuge is the most heavily used centrifuge in the World. ETC also provided the U. S. Navy's centrifuge located at U. S. Naval Air Station in Lemoore, CA, U. S. A., and has been providing G-training for U. S. Naval aviators for 15 years. In 1998, ETC provided one training and one research altitude chamber to the U. S. Federal Aviation Administration. They are currently in service at the Civil AeroMedical Institute (CAMI), Oklahoma City, OK, providing training of civil pilots as well as research support. ETC has also provided numerous spatial disorientation research and training devices to the U. S. Air Force and the Federal Aviation Administration since 1991. In addition to supplying leading-edge technology aeromedical and training and research products to the United States, ETC has delivered aeromedical equipment and training to more than 50 countries worldwide, making ETC the world leader in aeromedical training and research equipment.
ETC's President and CEO, William F. Mitchell, stated, "ETC is proud to be the supplier of this state-of-the-art aeromedical equipment for the U.S. Navy and U.S. Air Force. The award of these three contracts benefits ETC and our industry partners located throughout Pennsylvania. The establishment and equipping of the Center of Excellence at Wright Patterson Air Force Base will benefit military pilots and aircrews for years to come."
ETC was incorporated in 1969 in Pennsylvania and last year we celebrated our 40th anniversary. Our core technologies include the design, manufacture and sale of Training Services (TSG) 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 Control Systems (CSG) which includes: (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 Aircrew Training Systems (ATS) and flight simulators, disaster management systems and entertainment applications. CSG includes sterilizers, environmental control devices and hyperbaric chambers along with parts and service support.
This press release includes 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. These forward-looking statements are based on ETC's current expectations and projections about future events. 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 of our 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 the words, "may," "could," "should," "looking forward," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or the negative of such terms or 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 important factors 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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ETC – Internet Home Page: |
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SOURCE Environmental Tectonics Corporation
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