Thursday January 27, 4:40 pm Eastern Time
Company Press Release
Axion Takes Off Into the Aviation Entertainment Market
EDMONTON, Alberta--(BUSINESS WIRE)--Jan. 27, 2000--Axion Spatial Imaging Inc. (Pink Sheets:AXON) announced today the signing of a contract between its wholly-owned subsidiary, Axion Spatial Imaging Ltd. and Audio International, a subsidiary of DeCrane Aircraft Holdings Inc. representing an exciting new expansion into the highly competitive and expanding world of customized aircraft cabin information systems.
Under the terms of this contract and royalty agreement, valued at over half a million dollars (CDN) for the year 2000, Axion Spatial Imaging Ltd. is supplying MAP.net, a new software application for Audio International's e-CABIN comprehensive electronic cabin information system. MAP.net is an interactive mapping program that combines a very attractive blend of geographical, topographical, and local maps and data with flight information to create a comprehensive tool for the airborne passenger.
MAP.net gives each individual passenger control over a map display that is integrated with the aircraft's navigation system through GPS. MAP.net lets passengers zoom, track, and retrieve statistics, and search for information from a vast library of satellite images, Internet links to travel sites and other databases of information about the land below.
''Axion's compression technology, its ability to combine GPS, 3D image presentation, and instant display of extremely large satellite image files, and then to integrate them all into a single, user-friendly product is what forms the core of MAP.net's appeal and success,'' said Larry Girard, Vice-President of Audio International. ''We are delighted with the flexibility and innovation which Axion brought to the table in developing this new addition to our line of quality audio/video and cabin management systems for the executive aircraft industry.''
''This contract with Audio International represents a significant milestone in Axion's growth strategy for 2000 and beyond,'' said Ian Basford, President of Axion Spatial Imaging Ltd. ''More and more industries are looking for ways to use, display, distribute, and manipulate GIS and positional data to increase their core business capability. Axion has the tools to make that an affordable reality for our clients. We are delighted with this opportunity to establish our presence in the aviation industry with Audio International.''
This 3-year, exclusive deal encompasses an initial contract for software development by Axion Spatial Imaging Ltd., followed by a royalty percentage for each installation of the program by Audio International thereafter.
The CIT Group, a New Jersey-based aircraft financier has noted that sales of new corporate aircraft are expected to increase 3.3 percent in 2000 despite higher prices, representing orders of some 490 new aircraft for this year, as well as over 2,230 used aircraft projected for retrofit. Audio International, a company with notable experience providing total solutions for audio, video, and cabin management systems for aircraft, has been particularly successful in capturing a significant percentage of the market for equipping business jets, both in installations on new aircraft, as well as in the expanding retrofit market.
Except for the historical information presented herein, the matters set forth in this press release are forward looking statements within the meaning of the ''safe-harbor'' provision of the Private Securities Litigation reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Axion Spatial Imaging, is a registered trademark of Axion Spatial Imaging Ltd. All other names and trademarks mentioned above are held by their respective owners and hereby acknowledged.
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Contact:
Axion Spatial Imaging Ltd.
Markus Lemke, 403/270-3132
Fax: 780/423-4468
Email: markusl@axionspatial.com
www.axionspatial.com
or
Audio International
Kevin Hayes, 501/955-2929
Fax: 501/801-0417
Email: Kevin_Hayes@dahx.com |
