Star Navigation Announces Multi-year Agreement
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/20/17 -- Star Navigation Systems Group Ltd. (CSE: SNA)(CSE: SNA.CN)(OTCBB: SNAVF) ("Star" or the "Company) is pleased to announce that Lockheed Martin Rotary and Mission Systems has extended its relationship with STAR''s Man Machine Interface Division ("STAR-MMI ™") through a multi-year agreement for the repair and maintenance of U.S. Navy TFEL multi-function displays.
This agreement covers all maintenance work on existing displays used on P3 maritime aircraft directly supported by the OEM until 2020.
This extension results from a very good relationship having been developed between the companies over the past years during which STAR maintained the displays under ad-hoc purchase orders. It also illustrates the ability of STAR to support a major avionics player, with the added benefit of direct Canadian content.
In addition, two other major aerospace companies have shipped similar displays to STAR for repair under specific purchase orders. Star is actively pursuing maintenance, repair and upgrade business with operators and integrators in order to develop this business together with the STAR-A.D.S. ® activities.
About Star Navigation:
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. ® System. It is the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.
Star''s MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star''s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star''s actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Star does not assume any obligation to update these forward-looking statements, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
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Contacts:
Star Navigation Systems Group Ltd.
Viraf Kapadia
CEO
(416) 252-2289 Ext. 230
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Datum: 20.04.2017 - 17:25 Uhr
Sprache: Deutsch
News-ID 1499684
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