Aeroflex receives $6.2 million in contract awards from
Hughes Electronics
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Feb. 11, 1997--Aeroflex Incorporated (NYSE
Symbol: ARX), today reported that its Microelectronics Division, consisting of Aeroflex Circuit
Technology and MIC Technology, received additional orders from Hughes Electronics Corporation
for microelectronic devices for use on both commercial and military satellites and missile systems.
In July, 1996, Aeroflex reported the signing of multi-year Volume Purchase Agreements with
Hughes with a potential value in excess of $14,000,000. At that time, initial releases in excess of
$5,000,000 were received. Since that date, additional releases of approximately $2,700,000 have
been received under the Volume Purchase Agreements and an additional $3,500,000 in orders have
been received for new microelectronic devices that are not covered by the Volume Purchase
Agreements. The new orders are expected to be shipped over a twelve-month period.
Aeroflex Incorporated, headquartered in Plainview, Long Island, designs and manufactures
advanced electronics systems and components, including microelectronic circuits and interconnect
products, instrument products and motion control products for both the commercial and defense
markets. It also designs and manufactures shock and vibration stabilizing systems used for
commercial, industrial and defense applications.
Hughes Electronics Corporation is a world leader in the design, manufacture and marketing of
advanced electronics systems. It is a wholly-owned subsidiary of General Motors Corporation.
CONTACT: Aeroflex Inc.
Michael Gorin - President and Chief Financial Officer
516/694-6700 |
