API Announces $8 M Order from Fortune 500 Global Defense Contractor(Windber, Pa., March 3, 2010) -- API Technologies Corp. (OTC Bulletin Board: ATNY) ("API" or the "Company"), a prime contractor in secure communications, electronic components and subsystems to the global defense and aerospace industries, has been selected by a global Fortune 500 defense contractor to provide high-reliability magnetic components for use in radio communications systems deployed throughout the military and defense markets. The multi-year contract is valued at over $8 million and will be produced at the Company's Canadian facility under its Filtran brand.
The customer will integrate API's complex magnetic components into a number of radio communications systems in support of the U.S. military's Joint Tactical Radio System (JTRS) requirements as well as network-centric operations worldwide.
Military Global Navigation Satellite Systems (GNSS) Market Assessment
Stephen B. Pudles, Chief Executive Officer of API Technologies Corp., stated, "This contract, together with other recent client orders, is further proof of the confidence API's global customers have in our Company's products and quality."
Source : API Technologies Corp.