Marion Composites Awarded Italian Nose Radome Contract
ROSWELL, Ga., June 22 - Advanced Technical Products, Inc. (NASDAQ:ATPX), announced at the Paris Air Show today that its Marion Composites division has been awarded a contract for fighter aircraft nose radomes by FIAR S.p.A of Milan, Italy. Deliveries are scheduled to be completed in 2004.
The nose radome provides an aerodynamic fairing, environmental protection and microwave transparency for the enclosed radar system. Radome functional performance is achieved through composite design features, including select materials and processes, which assure high levels of structural and environmental performance as well as optimization of radar transmission characteristics.
The contract provides for the manufacture and delivery of nose radome assemblies over the life of the program with total sales of $2.8 million. The contract also provides for technical support and maintenance training.
Marion Composites produces a wide variety of aerospace composite structures, shelters, and relocatable hospitals, and is the world's leading manufacturer and designer of radomes for high-performance jet aircraft.
Advanced Technical Products, Inc.'s operating divisions include Intellitec, Lincoln Composites, Lunn Industries and Marion Composites. The Company's products are used in a variety of applications in the aerospace and defense industries, as well as commercial markets. ATP designs, develops, and manufactures high-performance radomes, aircraft components, rocket motor cases, pressure vessels, fuel tanks, shelter systems and other advanced composite products utilizing various production capabilities. The Company is also a leader in the design, development and manufacture of biological and chemical detection and protection systems. ATP also designs and manufactures electronic products for the specialty vehicle market. Further information on Advanced Technical Products, Inc. is available at www.atpx.com .
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements regarding the present intentions and expectations of management of ATP. Certain factors beyond ATP's control could cause results to differ materially from those in these forward-looking statements. Risk factors include general market conditions, dependence on the aerospace and defense industries, the level of military expenditures and competition in the markets for ATP's products, and are more fully described in filings with the Securities and Exchange Commission.