EAST AURORA, N.Y., Oct. 17 /PRNewswire-FirstCall/ -- Astronics
Corporation (Nasdaq: ATRO), a leader in advanced, high performance
lighting, electrical power generation, control and distribution systems for
the global aerospace industry, announced that it recently signed an
agreement with Piaggio Aero Industries. Astronics will supply a complete
suite of integrated cockpit panel assemblies and lighting controllers for
the Piaggio P180 Avanti II through 2008.
Peter J. Gundermann, President and CEO of Astronics Corporation,
commented, "We worked closely with Piaggio to integrate our high
performance systems into the new cockpit layout of the Avanti II. We were
able to effectively integrate our advanced functionality into the updated
avionics systems of the aircraft while preserving the pilot functionality
of the legacy cockpit design. Our engineering experience and capabilities
contributed to our success in winning this complex project."
The P180 Avanti II is the world's fastest turboprop business aircraft.
It combines the speed of a light jet with a more comfortable nine passenger
cabin and has greater fuel efficiency than any other business aircraft
available on the market today. The first Avanti II was delivered in
December 2005 to a Swiss customer. It received U.S. FAA certification in
March 2006. Piaggio expects to deliver 20 aircraft in 2006, 30 in 2007 and
approximately 40 aircraft in 2008.
ABOUT PIAGGIO AERO INDUSTRIES
Piaggio Aero Industries is the only company in the world to be active
in the areas of aircraft, aero-engines and aerostructures manufacturing.
Piaggio Aero designs, develops, constructs and maintains aircraft, engines
and aircraft structural components.
Technology and commitment in research and development, along with
innovative design solutions, are the drivers for Piaggio Aero Industries'
current and planned future programs. The core product for Piaggio Aero
Industries is the P180 Avanti II twin turboprop pusher business/utility
aircraft.
For more information on Piaggio Aero Industries, visit its website at
http://www.piaggioaero.com.
ABOUT ASTRONICS CORPORATION
Astronics Corporation is a leader in advanced, high-performance
lighting, electrical power generation, control and distribution systems for
the global aerospace industry. Its strategy is to expand the value and
content it provides to various aircraft platforms through product
development and acquisition. Astronics Corporation, and its wholly-owned
subsidiaries Astronics Advanced Electronic Systems Corp. and Luminescent
Systems Inc., have a reputation for high quality designs, exceptional
responsiveness, strong brand recognition and best-in-class manufacturing
practices.
For more information on Astronics and its products, visit its website
at http://www.astronics.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by
the Securities Exchange Act of 1934. One can identify these forward-looking
statements by the use of the words "expect," "anticipate," "plan," "may,"
"will," "estimate" or other similar expression. Because such statements
apply to future events, they are subject to risks and uncertainties that
could cause the actual results to differ materially from those contemplated
by the statements. Important factors that could cause actual results to
differ materially include the Company's ability to successfully execute the
contract, that the production contracts will be awarded to Astronics, that
the night vision conversion technology is transferable to other aircraft
platforms and the state of the aerospace industry, and other factors which
are described in filings by Astronics with the Securities and Exchange
Commission. The Company assumes no obligation to update forward-looking
information in this press release whether to reflect changed assumptions,
the occurrence of unanticipated events or changes in future operating
results, financial conditions or prospects, or otherwise.
SOURCE Astronics Corporation
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Related links:
http://www.astronics.com
http://www.piaggioaero.com
CONTACT:
David C. Burney, Chief Financial Officer,
+1-716-805-1599, ext. 159, Fax: +1-716-805-1286,
dburney@astronics.com
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