Andrew; your recent pick PCTH w/news: Wednesday March 8, 8:01 am Eastern Time
Company Press Release
SOURCE: Pacific Aerospace & Electronics, Inc.
Pacific Aerospace & Electronics Announces IAI 428JET Fuselage Assembly System Order
WENATCHEE, Wash., March 8 /PRNewswire/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH - news), an international engineering and manufacturing company specializing in technically demanding components and assemblies, announced today that it has been awarded a turnkey contract by Israel Aircraft Industries for the 428JET Center Fuselage Production System. The Company will develop the system through its Nova-Tech Engineering Division and build system elements with its Fabrication and Machining Divisions and with subcontractors in Israel.
The value of the two-part contract is expected to be approximately $4.4 million. In a strategic alliance with GEMCOR, Buffalo, NY, Pacific Aerospace will provide a MultiFlex Automated Riveting System for the Fairchild 428JET fuselage assembly. The 428JET Center Fuselage Production System is intended to streamline and automate the manufacture of the 30-foot long, 8-foot diameter center fuselage section. In addition to supply of the manufacturing system, PA&E will develop IAI factory workflow simulations and program the MultiFlex riveter. The 428JET competes in the fast-growing regional jet category and is a derivative of the Fairchild Dornier 328JET.
``This order is a breakthrough in our effort to supply total solutions to airframe builders,' said Don Wright, CEO of Pacific Aerospace & Electronics. ``The turnkey approach significantly reduces the level of effort required of IAI for manufacturing development and allows them to focus on engineering the optimal aircraft for the market. The GEMCOR all-electric MultiFlex is the state-of-the-art in aircraft super panel assembly, and allows us to build the entire center fuselage section in two panels, the upper and lower lobes.'
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 its European operations accounting for approximately half of its revenue. Pacific Aerospace & Electronics is headquartered in Wenatchee, WA, and has approximately 1,100 employees worldwide. |
