Marion Composites Wins Follow-On Contract from Raytheon
ROSWELL, Ga., April 17 - Advanced Technical Products, Inc. (NASDAQ:ATPX), announced today that its Marion Composites division has been awarded a $2.5 million follow-on contract by Raytheon Company of El Segundo, California. According to program manager, Roger Bowman, Marion Composites will supply the Enclosures and the Array Panels for the Sentinel Program. The systems are to be delivered over the next eighteen months. The award represents a continuing relationship between Raytheon and Marion Composites, which began in 1978 with the Firefinder Program.
ATP also announced today that its Marion Composites division recently received its third multi-year certification to ISO 9001. Marion Composites was initially certified to ISO 9001 by Det Norske Veritas (DNV) on February 23, 1995 and received its second certification on January 28, 1998.
ISO 9001 is an internationally accepted quality assurance model made up of 20 sets of quality system requirements. Marion Composites' certificate is valid for the design, manufacture, repair and servicing of radomes and composite structures, shelters and relocatable hospitals for the aerospace, military/defense and commercial markets.
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 such as "The systems are to be delivered over the next eighteen months." Certain factors beyond ATP's control could cause results to differ materially from those in these forward-looking statements. Risk factors include the level of military expenditures and are more fully described in filings with the Securities and Exchange Commission.
Contact: Roger Bowman, Program Manager of Marion Composites, 540-783-9624, or rbowman@mcomposites.com , or Lisa Lawson, Director of Communications of ATP, 770-993-0291, or llawson@atpx.com, or investors, Harvey A. Goralnick of FOCUS Partners LLC, 212-752-9445, or atpx@focuspartners.com, for ATP.
