API Technologies Announces New $3.3 Million Order from Raytheon UK

Before you go, we thought you'd like these...
Before you go close icon

API Technologies Announces New $3.3 Million Order from Raytheon UK

API to Provide Information Technology Systems for UK MOD ASTOR Program

ORLANDO, Fla. & GLOUCESTER, U.K.--(BUSINESS WIRE)-- API Technologies Corp. (NAS: ATNY) ("API Technologies" or the "Company"), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, today announced that it has competitively won a new $3.3 million order to provide computer servers, work stations, and network devices in support of the UK Ministry of Defence (MOD) ASTOR program. ASTOR is an advanced, air-to-ground surveillance system jointly operated by the Royal Air Force (RAF) and British Army.

"Through our Secure Systems and Information Assurance (SSIA) group, the Company provides a wide range of advanced technical solutions, including engineering content, program management, equipment certification, and production. We are pleased to leverage this breadth of experience in support of Raytheon UK and the mission-critical solutions it delivers," said Matthew Richards, Senior Vice President and Managing Director, RF2M-UK and SSIA-International for API Technologies Corp.

No additional information may be shared due to the secure nature of the opportunity.

About API Technologies Corp.

API Technologies designs, develops and manufactures electronic systems, subsystems, RF and secure solutions for technically demanding defense, aerospace and commercial applications. API Technologies' customers include many leading Fortune 500 companies. API Technologies trades on the NASDAQ under the symbol ATNY. For further information, please visit the Company website at www.apitech.com.

Safe Harbor for Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements. All forward-looking statements are subject to certain risks, uncertainties and assumptions which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to, general economic and business conditions, government regulations, our ability to integrate and consolidate our operations, our ability to expand our operations in both new and existing markets, the ability of our review of strategic alternatives to maximize stockholder value and the effect of growth on our infrastructure. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. The forward-looking statements in this news release should be read in conjunction with the more detailed descriptions of the above factors located in our Annual Report on Form 10-K under Part I, Item 1A "Risk Factors" as well as those additional factors we may describe from time to time in other filings with the Securities and Exchange Commission. All information in this release is as of the date hereof. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements in this press release, whether as a result of new information, future events, or otherwise.

API Technologies Corp.
Tara Flynn Condon
Vice President, Corporate Development & Marketing
+1 908-546-3903

KEYWORDS:   United Kingdom  United States  Europe  North America  Florida


The article API Technologies Announces New $3.3 Million Order from Raytheon UK originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

People are Reading