Pacific Aerospace & Electronics Announces Business Jet Contract Award
WENATCHEE, Wash., Jan. 24 /PRNewswire/ --
Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH), announced today that the
Company has recently received a contract from Sino Swearingen Aircraft Company
for sheet metal and machined components and assemblies for the first several
shipsets of SSAC's new SJ30-2 business jet.
The contract was placed with the Machining Division of Pacific Aerospace
& Electronics' US Aerospace Group and is expected to be the initial portion of
a larger follow-on contract. Current work is valued at approximately
$1.7 million.
"We are very pleased with our selection as a supplier to Sino Swearingen,"
said Don Wright, CEO of Pacific Aerospace & Electronics. "This award
demonstrates our continuing ability to provide quality engineering and
manufacturing services to the aerospace community. Furthermore, it provides
PA&E with a significant foothold in the booming business jet market."
Sino Swearingen's all new entry-level business jet, the SJ30-2, is a
seven-place business jet with a 2,500 nautical mile range -- nearly twice the
range of most comparable light jets. It will fly at speeds in excess of
550 miles per hour, operate at altitudes up to 49,000 feet, and, due to its
simplicity of design and operation, can be flown by a single pilot. SSAC is
headquartered in San Antonio, TX.
Pacific Aerospace & Electronics, Inc. is an international engineering and
manufacturing company specializing in technically demanding component designs
and assemblies for global leaders in the aerospace, defense, electronics,
medical, energy and transportation industries. The Company is organized into
three operational groups -- U.S. Aerospace, U.S. Electronics and European
Aerospace -- with European operations accounting for approximately half of its
revenue. Pacific Aerospace & Electronics is headquartered in Wenatchee, WA,
and has approximately 1,100 employees worldwide.
SOURCE Pacific Aerospace & Electronics, Inc.
-0- 01/24/2000
/CONTACT: Tom Barrows, Investor Relations of Pacific Aerospace
& Electronics, 509-667-9600; or Julie Rader, Investor Relations of
StreetConnect, 206-320-1231, for Pacific Aerospace & Electronics, Inc./
/Web site: pcth.com
(PCTH)
CO: Pacific Aerospace & Electronics, Inc.; Sino Swearingen Aircraft Company
ST: Washington, Texas
IN: ARO
SU: CON
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