ETC Announces Award of $38 Million U.S. Air Force Contract For Research Altitude Chamber System
Southampton, PA, June 15, 2010 — Environmental Tectonics Corporation’s (OTC Bulletin Board: ETCC) (“ETC” or the “Company”) Training Services Group has been awarded a contract by the United States Air Force to provide a suite of altitude chambers. The contract, valued at over $38 million, was awarded to ETC following a competitive bid process. The research altitude chambers will be manufactured at ETC’s main manufacturing plant in Southampton, Pennsylvania. The contract calls for delivery of a suite of four altitude chambers to the 711th Human Performance Wing at Wright Patterson Air Force Base in Dayton, Ohio, by June 2013. The chambers will support research activities to investigate and develop solutions for current and future Department of Defense aviation and space operations. The cutting edge research capabilities of these altitude chambers will allow investigation of physiological issues associated with exposure to medium and high altitudes in extreme environments as well as equipment development, qualification and human rating. The Research Altitude Chamber suite will be delivered as a turn-key project and will be installed in a newly constructed purpose-built facility.
The suite of chambers will incorporate state-of-the-art pressure vessel and environmental control technology that ETC has developed over the Company’s 40 year history. These proven technologies are in service at aeromedical facilities worldwide. The project will incorporate the expertise of ETC’s Aircrew Training Systems, Environmental Control and Simulation, and BioMedical Divisions and will capitalize on ETC’s experience gained through providing over 1,000 manned and unmanned pressure and environmental chambers worldwide.
William F. Mitchell, President and Chairman of ETC, stated, “ETC is proud to be awarded this important contract for the research altitude chamber system. We look forward to applying our leading edge technology and expertise to provide the USAF with a benchmark system. We are very pleased to continue our valued relationship with the USAF in providing this advanced technology device that will improve the health, safety and readiness of thousands of military pilots for years to come.”
Foward-Looking Statement: This press release contains forward-looking statements, which are based on management's current expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. The Company's actual results could differ materially from those anticipated in forward-looking statements as a result of a variety of factors, including those discussed in "Risk Factors" included in the Company's most-recent Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. We caution you not to place undue reliance on these forward-looking statements.
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