ETC Wins Contract With Major Asian Customer for Supply of Multiple Ejection Seat Simulators
SOUTHAMPTON, PA, USA, July 14, 2014 – Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”), announced today the signing of a contract with a leading military in South Asia for the procurement of three of its state-of-the-art Ejection Seat Simulators (ESS). The award followed a highly competitive bid process that included field evaluation trials of all potential vendors where it was concluded that ETC`s technology was superior. The new ESS will enable pilots to practice when to make the correct decision to eject, along with the proper procedures to employ before actually ejecting from the aircraft. The systems will be delivered to three separate locations, with installations expected to begin in early 2016.
“We`re very pleased with the opportunity to work with such a significant player in the global defense market,” said William F. Mitchell, Chairman & CEO of ETC. “It`s a great step for the Company, and will be an important project for our continued international expansion. We look forward to training their aircrew for many years to come.”
ETC`s groundbreaking ESS combines high-fidelity flight simulation and procedural training to replicate real world ejection situations. The system allows pilots to practice the correct decision-making and emergency procedures for successfully ejecting from the aircraft. The ESS design enhances the training experience by creating a realistic simulation of the ejection sequence that includes simulated aircraft emergencies. The device immerses the pilot into the flight scenario by constructing all of the events leading up to the ejection sequence in a dynamic flight environment; thereby, training the pilot in both the decision to eject and the correct ejection procedures, making it the premier ejection trainer.
As required by the contract, ETC will also provide a “turn-key” solution for this procurement, including detailed building designs and necessary construction for the installation of each simulator. Upon project completion, ETC will have manufactured and installed 22 ESS`s worldwide.
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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