|By Marketwired .||
|June 11, 2014 07:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/11/14 -- Star Navigation Systems Group Ltd. (TSX VENTURE: SNA)(OTCBB: SNAVF) ("Star" or the "Company") announces that it's STAR MMI Division has received a purchase order for upgrades of displays from a major Fortune 100 Aerospace Company.
The order, valued at approximately CDN $ 200,000, covers repair and upgrades of legacy displays for military transport aircraft.
The MMI Division was set up in April, 2014, following the Company's purchase of the assets of Luxell Quebec Technologies Inc. (See press Release April 1, 2014). Its primary role is the consolidation of the Company's supply chain through the manufacture the STAR-A.D.S. G2 System. It serves the secondary role of design, manufacture and repair of high performance mission critical flight deck, flat panel displays for defence and commercial aviation industries worldwide. Closely following the IRTS contract (see Press Release April 28, 2014), this contract is a further validation of Star's decision to expand control of its supply chain, its product line and revenue streams.
Mr. Tom Dudek, Engineering Manager of Star stated:
"This second significant contract within two months is a good indication of industry acceptance of STAR MMI and its design and repair capabilities. We are confident that our involvement with displays and man-machine interface will increase for both military and commercial aerospace applications."
About Star Navigation: (www.star-navigation.com)
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. System. It is the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.
Star's MMI Division designs and manufactures high performance mission critical flight deck, flat panel displays for defence and commercial aviation industries worldwide.
Certain statements contained in this News Release may constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
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