Mike and All
AIRM news
Air Methods Expands Products Division With Denver Police Contract
DENVER, May 27 /PRNewswire/ -- Air Methods Corporation's (Nasdaq: AIRM)
Products Division announced a contract with the Denver Police Department to equip a
Bell 407 helicopter with a sophisticated avionics suite and surveillance equipment. This
includes a communications suite, a global positioning system for navigation, an infrared
and day camera for surveillance, and a hi-intensity searchlight. Terms were not
disclosed.
George W. Belsey, Chairman and CEO of Air Methods, said the Denver PD contract
was significant because it represents the Products Division's first entry into the law
enforcement application market. A strategic focus of the Products Division is to diversify
into new, complementary markets by leveraging its core competencies in emergency air
medical systems for commercial and government applications.
Michael Prieto, Vice President of the Products Division, said the award also
demonstrates the unit's expertise in designing equipment for the powerful, yet
economical single-engine Bell 407. Over the last year, Air Methods has become the
market leader in adapting Bell 407s for emergency air medical applications. Bell
Helicopter is a unit of Textron, Inc. (NYSE: TXT).
Earlier this month, Air Methods announced a 38% increase in first quarter Products
Division revenues due to the progress on two contracts totaling more than $1.6 million
to manufacture electrical system components for the U.S. Air Force HH-60G Pave
Hawk helicopter program. Revenues also included a contract to install a medical interior
system, avionics suite and accessories for a Bell 407 sold to Flagstaff (Arizona) Medical
Center.
Air Method's Products Division specializes in the design and manufacture of
multi-functional interior products and systems for commercial and government agencies,
domestically and internationally. Highlights include:
-- The conversion of a Lockheed L1011 into a Flying Hospital for Operation
Blessing, an international relief organization;
-- The development of a Multi-Mission Medevac System for the U.S. Army's
UH-60Q Black Hawk helicopter, which provides the capability to
transport either litter-bound patients, personnel or cargo and converts
in less than two minutes without removing any equipment; and
-- The design and installation of medical interior systems in more than
100 aircraft in the last eight years.
|
