Company Press Release
SOURCE: Pacific Aerospace & Electronics, Inc.
Pacific Aerospace & Electronics, Inc. Electronics
Group Announces $3 Million In New Contract Awards
WENATCHEE, Wash., Feb. 8 /PRNewswire/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH - news) today
announced that two of its Electronics Group manufacturing subsidiaries, Pacific Coast Technologies, Inc. and Ceramic Devices,
Inc. have recently received new orders valued at approximately $3 million.
Under separate contract awards, both companies will provide a broad range of specialized, precision assemblies and ceramic
RFI filters. Pacific Coast Technologies received an award valued at $2.5 million from Northrop Grumman (NYSE: NOC -
news) for modular missile system assemblies for the US Army's Hellfire antitank missile, which is part of the Apache helicopter
Longbow system. Ceramic Devices received an award valued at $500,000 from Northern Telecom for RFI (radio frequency
interference) filters for cellular communication network applications.
''We are pleased to provide these high-performance solutions for Northrop and Nortel,'' said Lew Wear, President of Pacific
Aerospace & Electronics' Electronics Group. ''The strength, complexity, and stability of these products and their resident
special technologies makes them ideally suited for operating in demanding, hostile environments. These awards exemplify our
ability to design and manufacture mission-critical products.''
Pacific Coast Technologies, Inc., located in Wenatchee, WA, is a leading manufacturer of complex, hermetically sealed
components and assemblies for the aerospace, defense, electronics and medical industries. Ceramic Devices, Inc., also located
in Wenatchee, WA, is a leading manufacturer of ceramic EMI/RFI filters for military and aerospace electronic systems.
Pacific Aerospace & Electronics, Inc. is a diversified, international manufacturing company that develops, manufactures and
markets high-performance electronics and metal components and assemblies for the aerospace, defense, electronics and
transportation industries. The Company's primary businesses are organized into three operational and marketing units. The
Electronics Group develops, manufactures and sells a broad range of precision components, filtering devices, electronic
assemblies, and explosively bonded materials designed to operate with a high degree of reliability in harsh environments such as
the ocean, space and the human body. The Aerospace Group provides machined and cast aluminum and metal parts and
component assemblies for commercial and military aircraft, heavy trucking and automotive uses, primarily in the United States.
The Aeromet Group provides magnesium and aluminum precision cast parts and formed titanium and aluminum sheet products
to the aerospace, defense and motorsport industries, primarily in Europe.
The Company's common stock trades on the Nasdaq National Market System under the symbol ''PCTH,'' and its warrants
trade under the symbol ''PCTHW.''
Forward-looking statements in this release concerning trends or anticipated operating results are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees
of future performance and are subject to risks and uncertainties related to the Company's operations. These risks and
uncertainties include, but are not limited to, competitive factors (including the possibility of increased competition or
technological development, competitors, and price pressures); legal factors (such as limited protection of the Company's
proprietary technology and changes in government regulation); and the Company's dependence on key personnel and significant
customers.
SOURCE: Pacific Aerospace & Electronics, Inc. |
