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

To: GKS who wrote (1458)	1/18/2000 9:12:00 AM
From: jr	Respond to of 1509

Announces Boeing Contract Award PACIFIC AEROSPACE & ELECTRONICS ANNOUNCES BOEING CONTRACT AWARD WENATCHEE, Wash., Jan 18, 2000 /PRNewswire via COMTEX/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH), announced today that the Company has signed a five-year comprehensive supplier contract with the Boeing Commercial Aircraft Group for the manufacture of machined and cast components and assemblies. The contract combines a number of the Company's locations and manufacturing capabilities under one master supplier agreement and clearly denotes that the Company has retained its key customer in an industry in which the continuing trend is for large manufacturers, such as Boeing, to retain fewer suppliers. The Company estimates the contract value in the $55 to $60 million range based on Boeing's most recent published aircraft manufacturing schedules. The Company believes that the contract value will grow over time as the Asia market continues to strengthen and as the Company is awarded additional part numbers and projects by Boeing. The contract extends the current manufacturing activity conducted by PA&E's two largest groups -- the U.S. Aerospace Group and the European Aerospace Group. The contract initially includes the Machining and Casting Divisions of the Company's domestic operations and its international business, Aeromet International. PA&E's Engineering and Fabrication Divisions are expected to be added to the contract by late next year. The Company is now qualified to manufacture over 3200 different components and assemblies for Boeing, which could lead to significant enhancements to the contract in future years. "This contract further solidifies our standing as a key supplier to the Boeing Company and positions us for a long-term partnership with Boeing, as it continues to reduce its supplier base. This contract also provides us a platform to expand this business area over the next several years," said Don Wright, CEO of Pacific Aerospace & Electronics. "We are proud to be able to provide cost-effective total engineering and manufacturing solutions to companies of Boeing's caliber by integrating our cross-functional manufacturing resources and technologies." Pacific Aerospace & Electronics, Inc. is an international engineering and manufacturing company specializing in technically demanding component designs 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 operations accounting for approximately half of its revenue. Pacific Aerospace & Electronics is headquartered in Wenatchee, WA, and has approximately 1,100 employees worldwide. SOURCE Pacific Aerospace & Electronics, Inc. (C) 2000 PR Newswire. All rights reserved. prnewswire.com -0- CONTACT: Tom Barrows, Investor Relations of Pacific Aerospace & Electronics, Inc., 509-667-9600; or Julie Rader, Investor Relations of StreetConnect, 206-320-1231, for Pacific Aerospace & Electronics, Inc. WEB PAGE: pcth.com GEOGRAPHY: Washington INDUSTRY CODE: AIR ARO CPR SUBJECT CODE: CON * end of story *