SOUTHAMPTON, Pa., Oct. 21 /PRNewswire-FirstCall/ -- Environmental Tectonics Corporation's (OTC Bulletin Board: ETCC) ("ETC" or the "Company") Sterilization Service Group today announced the award of upgrade contracts with two companies in the pharmaceutical industry. ETC's Service Group performs retrofits, upgrades and maintenance services and sells spare and replacement parts for most of ETC's operating divisions.
One contract involves two competitor's sterilizers located in a facility in New Jersey. This project includes a full mechanical, piping and major components overhaul and installation of a new control system. Installation, start-up and training services will be provided.
The other contract includes a control upgrade for two ETC sterilizers located in a facility in the far Northeast. This long-standing ETC customer has purchased numerous sterilizers over many years.
Chris Ciesielka, ETC's Service Manager, stated, "ETC has a long established service department with the flexibility to work on both ETC and our competitor's equipment. Post installation support is a major factor why our customers award us repeat orders. ETC's combination of technology and customer support makes us uniquely positioned in our markets."
Environmental Tectonics Corporation was incorporated in 1969 in Pennsylvania, USA. For over forty years, we have provided our customers with products, service and support. Innovation, continuous technological improvement and enhancement, and product quality are core values and critical to our success. We operate in two business segments – Training Services Group ("TSG") and Control Systems Group ("CSG"). Our core technologies in TSG include the design, manufacture and sale of training services which includes (1) software driven products and services used to create and monitor the physiological effects of flight; (2) high performance jet tactical flight simulation, and; (3) driving and disaster simulation systems, and in CSG include: (1) steam and gas sterilization; (2) testing and simulation devices for the automotive industry, and; (3) hyperbaric and hypobaric chambers. Product categories included in TSG are Authentic Tactical Fighting Systems (ATFS), Aircrew Training Systems (ATS) and disaster management systems (ADMS). CSG includes sterilizers, environmental control devices and hypo/hyperbaric chambers along with parts and service support.
Discussions of some of the matters contained in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and as such, may involve risks and uncertainties. We have based these forward-looking statements on our current expectations and projections about future events or future financial performance, which include implementing our business strategy, developing and introducing new technologies, obtaining, maintaining and expanding market acceptance of the technologies we offer, and competition in our markets. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These forward-looking statements include statements with respect to the Company's vision, mission, strategies, goals, beliefs, plans, objectives, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business of the Company, including, but not limited to, (i) projections of revenues, costs of materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure, other financial items and the effects of currency fluctuations, (ii) statements or plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions of customers, suppliers, competitors or regulatory authorities, (iii) statements of future economic performance, (iv) statements of assumptions and other statements about the Company or its business, (v) statements made about the possible outcomes of litigation involving the Company, (vi) statements regarding the Company's ability to obtain financing to support its operations and other expenses, and (vii) statements preceded by, followed by or that include terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "future," "predict," "potential," "intend," or "continue," and similar expressions. These forward-looking statements involve risks and uncertainties which are subject to change based on various important factors. Some of these risks and uncertainties, in whole or in part, are beyond the Company's control. Factors that might cause or contribute to such a material difference include, but are not limited to, those discussed in our Annual Report on Form 10K for the fiscal year ended February 26, 2010, in the section entitled "Risks Particular to Our Business." Shareholders are urged to review these risks carefully prior to making an investment in the Company's common stock.
The Company cautions that the foregoing list of factors that could affect forward-looking statements by ETC is not exclusive. Except as required by federal securities law, the Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Contact: Duane D. Deaner, CFO
ETC – Internet Home Page: http://www.etcusa.com
SOURCE Environmental Tectonics Corporation