RIDEGLAND, Miss., 12 May 2005. API Electronics Group Corp. announced that its TM Systems division has received a $1.4 million order from National Steel and Ship Building Co., a subsidiary of General Dynamics Corp.
API and TM Systems will manufacture two Stabilized Glide Slope Indicators (SGSI) and Vertical Reference Systems (VRS).
This advanced military equipment is used to safely guide helicopter pilots to and from air-capable ships. The SGSI and VRS units will be installed on new dry cargo/ammunition ships being constructed for the U.S. Navy.
"By adding these orders to our existing record backlog of $8.5 million, we anticipate record revenue years for API in both fiscal 2005 and 2006," said Phillip DeZwirek, chairman and CEO of API.
API Electronics Group Corp., through its wholly owned subsidiaries API Electronics Inc., Filtran Group and TM Systems, is engaged in the manufacture of electronic components and systems for the defense and communications industries. API and its subsidiaries have been providing top of the line parts to numerous global producers of military hardware, telecommunications equipment, computer peripherals, process control equipment and instrumentation for a combined total of over 50 years. API's TM Systems subsidiary has been in business for over 30 years and provides critical systems to various U.S. government departments, including the Navy, as well as numerous domestic and foreign commercial corporations.
With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin and numerous other top technology-based firms around the world, API regularly ships off-the-shelf and custom designed products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York State, Connecticut and Ontario, Canada totaling 51,000 square feet. The company also has manufacturing capabilities in China and a distribution center in Britain. For more information, see www.apielectronics.com.
