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Technology Stocks : PCTH Anyone think this can take off in 1998?!! -- Ignore unavailable to you. Want to Upgrade?

To: John Hall who wrote (1451)	10/20/1999 10:18:00 AM
From: jr	Read Replies (1) \| Respond to of 1509

WENATCHEE, Wash., Oct. 20 /PRNewswire/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH), an international engineering and manufacturing company specializing in technically demanding components and assemblies, today announced that it has been awarded three new aerospace orders valued at $5 million, shippable within the next 12 months. BF Goodrich selected PA&E for an initial order of approximately $2.2 million to manufacture cast-high-strength stainless steel thrust reverser assemblies for Boeing 717 commercial aircraft. Boeing Space Systems placed an add-on order of approximately $1.5 million for adjustable kneel-down transporters used in the assembly of Delta IV space launch vehicles. Parker Aerospace awarded PA&E an initial order of approximately $1.3 million to build cast-aluminum air ducts used in Rolls Royce/Trent engines for Airbus A340 commercial aircraft. In addition, Boeing recently cited Pacific Aerospace & Electronics for outstanding performance within its Fabrication and Engineering operations with its "Excellence Award" related to a critical space program for implementation, responsiveness, cost effectiveness and competitiveness. "We are very pleased about our recent contract wins and quality award," said Don Wright, President and CEO. "These successes reflect not only our established reputation for high quality and unique manufacturing capabilities, but also our aggressive strategic alignment to become the low cost producer as well." "The manufacturing initiatives that we began six months ago are beginning to paying off. Our cellular flow-manufacturing program, based on best-of-breed business practices and project teams, is reducing cycle times while maintaining the highest quality standards. We have also instituted programs to build to zero scrap, including manufacturing resource management and other aggressive cost reduction targets resulting in overall operating efficiency improvements of 10-15%." "We continue to meet our customers' challenge to be among their select strategic suppliers who can provide a complete engineering and manufacturing solution. At the same time, we continue to consolidate our operations, improve manufacturing processes and centralize corporate services in order to deliver more value to our customers." Pacific Aerospace & Electronics, Inc. is an international engineering and manufacturing company specializing in technically demanding components 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 European operation accounting for approximately half of its revenue. Pacific Aerospace & Electronics is headquartered in Wenatchee, WA, and has approximately 1,100 employees worldwide. 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. -0- 10/20/1999 /CONTACT: Tom Barrows, Vice President of Pacific Aerospace & Electronics, 509-667-9600; or Jeff Howlett, Investor Relations of StreetConnect, 206-320-1231, for Pacific Aerospace & Electronics, Inc./ /Web site: pcth.com (PCTH) CO: Pacific Aerospace & Electronics, Inc. ST: Washington IN: CPR ARO SU: CON * end of story *