Astronics Corporation Awarded EmPower® Contracts from Three Major Asia Airlines
June 23 2016 - 9:00AM
Astronics Corporation (NASDAQ:ATRO), a leading supplier of products
to the global aerospace, defense, and semiconductor industries,
today announced the newest EmPower® in-seat power system from
wholly-owned subsidiary Astronics Advanced Electronic Systems (AES)
has been selected by three major airlines in Asia for installations
scheduled through the 2017 to 2021 timeframe. These recent
awards will place in-seat power in more than 230 additional
aircraft serving the Asia Pacific region. The installations,
valued at more than $16 million, will be in Boeing 737, 737-800
& 737 MAX, Airbus A320 and Bombardier CS300 aircraft.
This system includes various EmPower® configurations, including
110V 60Hz as well as high-power (2.1A) USB for use with laptops and
other Personal Electronic Devices (PEDs), such as iPad® and
Smartphones.
Mike Hettich, Vice President of Astronics AES Cabin Electronics,
said, “Statistics show that 97% of global passengers travel with
their own mobile devices. Airline carriers worldwide are
responding to their passengers’ requests for power at the seat to
keep their devices operational during the flight and fully charged
for when they arrive at their destination.”
For nearly 20 years, Astronics has developed patented,
intelligent power management systems. The patented EmPower®
System is currently in service with over 190 Airline/OEM customers
at more than 900,000 seat locations.
ABOUT ASTRONICS CORPORATION Astronics
Corporation (NASDAQ:ATRO) is a leading supplier of products to the
global aerospace, defense and semiconductor industries.
Astronics’ products include advanced, high-performance electrical
power generation, distribution and motion systems, lighting and
safety systems, avionics products, aircraft structures, systems
certification, and automated test systems. Astronics’
strategy is to increase its value by developing technologies and
capabilities, either internally or through acquisition, and using
those capabilities to provide innovative solutions to its targeted
markets and other markets where its technology can be
beneficial. Through its wholly-owned subsidiaries, Astronics
has a reputation for high-quality designs, exceptional
responsiveness, strong brand recognition and best-in-class
manufacturing practices. The Company routinely posts news and
other important information on its website at
www.astronics.com.
For more information
on Astronics and its products, visit its website at:
www.Astronics.com.
Safe Harbor Statement This news release
contains forward-looking statements as defined by the Securities
Exchange Act of 1934. One can identify these forward-looking
statements by the use of the words “expect,” “anticipate,” “plan,”
“may,” “will,” “estimate” or other similar expressions.
Because such statements apply to future events, they are subject to
risks and uncertainties that could cause actual results to differ
materially from those contemplated by the statements.
Important factors that could cause actual results to differ
materially include the capabilities of the acquired company,
achieving expected revenue levels, successfully leveraging
complementary capabilities in the Test Systems segment, the state
of the aerospace and defense industries, the market acceptance of
newly developed products, internal production capabilities, the
timing of orders received, the status of customer certification
processes, the demand for and market acceptance of new or existing
aircraft which contain the Company’s products, customer
preferences, and other factors which are described in filings by
Astronics with the Securities and Exchange Commission. The Company
assumes no obligation to update forward-looking information in this
news release whether to reflect changed assumptions, the occurrence
of unanticipated events or changes in future operating results,
financial conditions or prospects, or otherwise.
For more information:
Product:
Dennis Markert
Director, New Business Development Cabin Product Line
(425) 895-4374
dennis.markert@astronics.com
Investors:
Deborah K. Pawlowski
(716) 843-3908
dpawlowski@keiadvisors.com
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