|ATNY - 1.22 This appears to be at a bottom, so this PR might help to get it going again.|
03/03 07:30 CST
API Technologies Announces $8 Million Order from Fortune 500 Global Defense
WINDBER, Pa., March 3
WINDBER, Pa., March 3 /PRNewswire-FirstCall/ -- API Technologies Corp. (OTC
Bulletin Board: ATNY) ("API" or the "Company"), a prime contractor in secure
communications, electronic components and subsystems to the global defense and
aerospace industries, has been selected by a global Fortune 500 defense
contractor to provide high-reliability magnetic components for use in radio
communications systems deployed throughout the military and defense markets.
The multi-year contract is valued at over $8 million and will be produced at
the Company's Canadian facility under its Filtran brand.
The customer will integrate API's complex magnetic components into a number
of radio communications systems in support of the U.S. military's Joint
Tactical Radio System (JTRS) requirements as well as network-centric operations
Stephen B. Pudles, Chief Executive Officer of API Technologies Corp.,
stated, "This contract, together with other recent client orders, is further
proof of the confidence API's global customers have in our Company's products
About API Technologies Corp.
The Company is a prime contractor in sophisticated electronics, highly
engineered systems, secure communications and electronic components and
subsystems to the global defense and aerospace industry. API Technologies'
customers include the governments of the U.S., Canada, the United Kingdom, NATO
and the European Union, as well as many of the leading Fortune 500 companies.
The Company is engaged in providing innovative design, engineering and
manufacturing solutions to its customers. API Technologies trades on the OTC
Bulletin Board under the symbol ATNY. For further information, please visit the
company website at www.apitech.com.
Safe Harbor for Forward-Looking Statements
Except for statements of historical fact, the information presented herein
constitutes forward-looking statements. All forward-looking statements are
subject to certain risks, uncertainties and assumptions which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. These risks and uncertainties,
which are more fully described in the Company's Annual and Quarterly Reports
filed with the Securities and Exchange Commission, include but are not limited
to, general economic and business conditions, our ability to integrate and
consolidate our operations, our ability to expand our operations in both new
and existing markets, and the effect of growth on our infrastructure. Should
one or more of these risks or uncertainties materialize, or should the
assumptions prove incorrect, actual results may vary in material aspects from
those currently anticipated. All information in this release is as of the date
hereof. We undertake no duty to update any forward-looking statement to conform
the statement to actual results or changes in the Company's expectations.
Except as required by law, the Company assumes no obligation to update or
revise any forward-looking statements in this press release, whether as a
result of new information, future events, or otherwise.
SOURCE API Technologies Corp.