NEW YORK, N.Y., 27 Dec. 2007. API Nanotronics Corp., a supplier of electronic components and nanotechnology research and development to the defense and communications sectors, announced that its TM Systems division won a contract extension from a defense customer. The contract includes an option for a 10th Stabilized Glide Slope Indicator (SGSI) and Vertical Reference System (VRS) and options for delivery of up to four additional systems. The total potential value of the contract exceeds $3.8 million.
TM Systems' Stabilized Glide Slope Indicators (SGSI) and Vertical Reference Systems (VRS) allow helicopters to land safely aboard military sea vessels under a variety of conditions. TM has delivered seven of these systems to this defense customer since 2003. The company anticipates delivering the 8th and 9th systems within the next six months. API will receive advance payments for construction of the 10th system required by this customer. If the options under the contract are fully exercised, the company anticipates delivery of the additional systems between 2008 and 2012.