Air Force Strikes $7.4 Million Deal with Astronics to Last Five Years

Aug 25, 2011 Astronics DME Corporation, a subsidiary of Astronics Corporation, a major producer of lighting and other electrical test systems for the aerospace and defense industries worldwide, has announced its five-year contract with the U.S. Air Force.

The terms of the contract lasting half a decade include an Indefinite Delivery/Indefinite Quantity (ID/IQ) agreement, where Astronics will provide the Air Force with LED airfield lighting. The maximum value reaches $7.4 million, with the project aimed at replacing taxiway lighting fixtures at bases in the continental U.S., Alaska, and Hawaii.

While the contract lasts, the Air Force will make specific orders, like the most recent request for 600 fixtures for a value of $72,000 and work to begin immediately. President and CEO of Astronics Corporation, Peter Gundermann, noted the LED lighting would be a "product that offers energy savings and lowers life-cycle costs." The company also expects this contract is only the beginning, and that the success of these LEDs will encourage the Air Force to eventually light runways with the same technology.

About Astronics Corporation:
Astronics Corporation is a global leader of "advanced, high-performance, electrical power and automated test systems" for aerospace and defense industries. The parent company and its subsidiaries hold reputations for high-quality designs and best-in-class manufacturing practices.

Source:
http://phx.corporate-ir.net/phoenix.zhtml?c=89434&p=irol-newsArticle&ID=1600306&highlight=


Author:  Rebecca Milne

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