DUBLIN, Sept. 28, 2011 /PRNewswire/ -- AMPAC-ISP CORP., American Pacific Corporation's (NASDAQ®: APFC) wholly-owned in-space propulsion subsidiary (AMPAC-ISP), announced that their European operations (AMPAC-ISP Europe) recently signed a contract with the European Space Agency (ESA) for the development of the next generation rocket engine technologies to be used for future interplanetary missions. The initial phase of the contract is valued at over euro 2 million, which is split between the Irish and UK divisions of AMPAC-ISP. As part of the Irish work-scope, a subcontract valued at euro 125,000 has been placed with Engineering Solutions International Limited (ESIL) of Kinsealy for specialist Computation Fluid Dynamics.
The ESA contract will involve the development of new processes, materials and technologies to improve the performance of liquid apogee engines used in spacecraft orbit insertion and other in-space propulsion maneuvers.
David Gibbons, Managing Director of AMPAC-ISP Europe stated, "We are very pleased to continue our long working relationship with the ESA developing state-of-the-art solutions for critical mission applications. Our success in winning this program is a clear indication of the ESA's confidence in our capabilities and provides additional opportunities for growth in the coming years."
AMPAC-ISP is a world leader in the development and supply of propulsion systems, fluid controls, and launch vehicle structural components with locations in Dublin (Ireland), Cheltenham and Westcott (UK) and Niagara Falls and Chatsworth (US). Dublin is the headquarters for AMPAC-ISP Europe.
In addition to satellite propulsion systems and components, AMPAC-ISP has been involved with the Ariane 5 Launch Vehicle for over 20 years. With the support of Enterprise Ireland, the European Space Agency and IDA Ireland (Industrial Development Agency), the company has seen significant growth in personnel levels at its Dublin headquarters, from just 17 in 2008 to 35 in 2011. These positions include propulsion engineering, product assurance, manufacturing technology and business development. AMPAC-ISP is projecting further growth and expects to recruit an additional 15 highly qualified personnel in the next 2 years.
ABOUT AMPAC-ISP CORP.
AMPAC-ISP Corp. (AMPAC-ISP), a wholly-owned subsidiary of American Pacific Corporation, manufactures monopropellant and bipropellant liquid propulsion systems and thrusters for satellites, launch vehicles and interceptors. Additionally, AMPAC-ISP designs, develops and manufactures high performance valves, pressure regulators, cold-gas propulsion systems, and precision structures for space applications, especially in the European space market. Additional information about us can be obtained by visiting our web site at www.ampacisp.com.
AMPAC-ISP's European operations are headquartered in Dublin, Ireland and its manufacturing facilities are in the United Kingdom and Ireland. Additional information about AMPAC-ISP Europe can be obtained by visiting www.ampacisp.eu.
ABOUT AMERICAN PACIFIC CORPORATION
American Pacific Corporation (AMPAC) is a leading custom manufacturer of fine chemicals, specialty chemicals and propulsion products within its focused markets. We supply active pharmaceutical ingredients and advanced intermediates to the pharmaceutical industry. For the aerospace and defense industry we provide specialty chemicals used in solid rocket motors for space launch and military missiles. AMPAC also designs and manufactures liquid propulsion systems, valves and structures for space and missile defense applications. We produce clean agent chemicals for the fire protection industry, as well as electro-chemical equipment for the water treatment industry. Our products are designed to meet customer specifications and often must meet certain governmental and regulatory approvals. Additional information about us can be obtained by visiting our web site at www.apfc.com.
Statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including without limitation statements regarding the anticipated benefits and outcomes from the ESA development contract, including potential future growth opportunities. The inclusion of forward-looking statements should not be regarded as a representation by American Pacific Corporation and its affiliates (collectively, "American Pacific") that any of American Pacific's expectations will be achieved. Actual results may differ materially from future results or outcomes expressed or implied by forward-looking statements set forth in this press release due to risks, uncertainties and other important factors inherent in American Pacific's business. Factors that might cause actual results to differ include, but are not limited to, those included in the "Risk Factors" section of the Form 10-K for the year ended September 30, 2010 and filed by American Pacific Corporation with the U.S. Securities and Exchange Commission. Readers of this press release are referred to the filings of American Pacific Corporation with the U.S. Securities and Exchange Commission, including the Form 10-K for Fiscal 2010, our Quarterly Report on Form 10-Q for the quarters ended June 30, 2011, March 31, 2011 and December 31, 2010, and our other filings with the Securities and Exchange Commission, for further discussion of these and other factors that could affect future results. The forward-looking statements contained in this press release are made as of the date hereof and American Pacific assumes no obligation to update for actual results or to update the reasons why actual results could differ materially from those projected in the forward-looking statements, except as required by law.
SOURCE American Pacific Corporation