Company Press Release
SOURCE: Pacific Aerospace & Electronics, Inc.
Pacific Aerospace & Electronics' Aeromet
International Group Announces $6 Million In New Contract Awards
WENATCHEE, Wash., Feb. 24 /PRNewswire/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH - news) today
announced that its Aeromet International Group has recently received new orders valued at over $6 million.
Under multiple contract awards, Aeromet International's Foundry and Forming Divisions will provide an extensive range of
complex, lightweight metal products for a variety of European aerospace customers, including British Aerospace, Rolls Royce,
Daimler Benz, Aerospatiale, Shorts and Aermacchi.
''We are very pleased with the strides we continue to make in our business,'' said Duncan Crighton, President of Pacific
Aerospace & Electronics' Aeromet International Group. ''These agreements, together with Pacific Aerospace, put us in an
excellent position to capitalize on the strong growth that is forecasted for the European market segments over the coming
years.''
Aeromet International plc, with five manufacturing sites in the U.K., is a global supplier of cast magnesium and aluminum
products using investment and sand casting techniques, including its proprietary, licensed ''Sophia Process'' thin wall
technology, and of super plastic formed sheet titanium and stretch formed sheet aluminum alloys.
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. |
