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Star Navigation M.M.I. Division Update(January 09, 2018)
TORONTO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) (OTCQB:SNAVF) ("Star” or the “Company”) is pleased to announce its first orders of the New Year for its’ STAR Man Machine Interface Division (“STAR- M.M.I. ™”).
STAR- M.M.I. ™ has received a new batch of repair orders from Lockheed Martin under the recently implemented agreement for refurbishment and maintenance. The agreement covers activities up to the year 2021. (See Press Release April 20, 2017). In addition, the Company has recently received repair and refurbishment orders from CAE (CAE Middle East LLC) and Blue Aerospace. CAE is a global leader in modelling, simulation and training for civil aviation and defence. Blue Aerospace, headquartered in Florida, is an international company active in military and defence sectors, with an outreach to 30 countries around the world. The estimated total repair business under these early 2018 orders is approximately U.S. $85,000. (CDN $105,000).
Mr. Jean-Louis Larmor, Star’s COO said:
“2018 starts on a very positive note for our STAR-M.M.I. ™ Division. We are now working under a three-year contract for flat screen display refurbishing with one major customer and are attracting additional maintenance business from other well-established customers. Star now plans to pursue the new display and man-machine interface market for retrofits on fixed wing and rotary wing aircraft. Our credentials and experience in customized LCD displays and control units have put us in a unique position to rapidly and efficiently answer the very specific needs of this market segment.”
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. 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.
Stars’ M.M.I. Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide. These displays are found on aircraft and simulators, from P-3 Orion and C-130 aircraft, to Sikorsky and AgustaWestland helicopters, as examples.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “expected” 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.
Please visit www.star-navigation.com or
Viraf S. Kapadia, (416) 252-2889 Ext. 230