Lincoln Fuel Tanks Selected for LA Buses
ATLANTA, May 3 -- Advanced Technical Products, Inc. (NASDAQ:ATPX) announced today that its Lincoln Composites division has been selected by New Flyer of America, a major manufacturer of transit buses, to produce all-composite fuel tanks for 222 buses to be supplied to the Los Angeles County Metropolitan Transit Authority (LACMTA).
Lincoln Composites will be supplying 902 TUFFSHELL(TM) fuel tanks, including spares, to be delivered this year. The buses are being manufactured in New Flyer's Winnipeg and Crookston, Minnesota facilities. Each bus will have four 18.4" diameter by 120" long tanks providing a total capacity of 16,384 standard cubic feet of natural gas.
Lincoln Composites is the exclusive supplier of CNG fuel tanks to New Flyer for their conventional high floor as well as their low floor CNG transit buses and, with this order, will have supplied more than 4300 tanks to New Flyer Industries over the past four years. Lincoln Composites is the leading supplier of CNG fuel tanks to the transit bus industry and has manufactured more than 25,000 TUFFSHELL(TM) tanks since the product's introduction in 1993. LACMTA Buses began using Lincoln Composites tanks in 1997. The Transit Authority has over 5,700 TUFFSHELL(TM) tanks in trouble free service.
First established in 1963 to produce rocket motor cases for military use, Lincoln Composites has since applied its engineering and development expertise to commercial products. Its commercial product lines include filament wound tubular products for oil and gas exploration and production; shafts for paper conversion machinery; and plastic lined pressure vessels for natural gas vehicles and off-shore oil platforms.
Advanced Technical Products' other divisions design and manufacture advanced composite based materials and products using multiple processes and materials and electro-optical systems for military products including chemical agent detection systems. The Company is one of the very few with the ability to utilize various processes within its five divisions, such as autoclave cured lamination, filament winding, resin transfer molding and metal bonding. Using these processes and a wide variety of materials, the Company manufactures products for the aerospace, defense and commercial markets.
Except for the historical information contained herein, this press release contains forward-looking statements regarding the present intentions and expectations of management. Certain factors beyond ATP's control which could cause ATP's results to differ materially from those made in forward-looking statements include, but are not limited to, general market conditions, dependence on the defense and aerospace industries, the level of military expenditures and competition in the markets for ATP's products, are more fully described in ATP's form 10-K and other documents filed with the Securities and Exchange Commission.
Contact: Richard Rashilla, President of Lincoln Composites, 402-464-8211, rrashilla@lincolncomposites.com; or Investor Relations - Harvey A. Goralnick or Timothy P. Clemensen of FOCUS Partners LLC, 212-752-9445, atpx@focuspartners.com, for Advanced Technical Products