ETC Awarded $8.3 Million Contract for its Sterilization Systems Group

Rhea-AI Summary

Environmental Tectonics Corporation (OTC Pink: ETCC) has secured an $8.3 million contract from an international client for three ethylene oxide sterilization chambers designed for medical devices. This deal represents a continuation of repeat business within the sterilization sector. Year-to-date orders for the first half of fiscal 2023 have reached $17.4 million, up from $12.8 million in the same period last year. The company's Sterilization Systems Group specializes in custom sterilization solutions for various industries, highlighting its competitive edge.

Positive

• Awarded an $8.3 million contract for sterilization chambers.
• Year-to-date orders of $17.4 million in fiscal 2023, up from $12.8 million in fiscal 2022.

Negative

• None.

SOUTHAMPTON, Pa., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation's (OTC Pink: ETCC) (“ETC” or the “Company”) Sterilization Systems Group announced it has been awarded an $8.3 million contract from an international customer. The contract includes three, fourteen pallet ethylene oxide (“EO”) sterilization chambers with automated pallet conveyance for use with the sterilization of medical devices. “This contract is another example of ETC Sterilization Systems Group repeat business in EO sterilization and system controls” states Eric Hunnicutt, ETC Director of EO Sterilizer Sales.  ETC’s Sterilization Systems Group offers Steam and Ethylene Oxide (“EO”) Sterilizer Systems, Vacuum Dryers, Software Systems, and project management services to the Medical Device, Pharmaceutical, Biotechnology, and Life Science industries. ETC’s systems are often specially designed to meet unique process systems challenges.

States Robert L. Laurent, Jr., President and CEO, “We are pleased to partner with our international customer on this award, which brings the first half of fiscal 2023 YTD orders received to $17.4 million, compared to $12.8 million through the first half of fiscal 2022.”

About ETC

ETC designs, manufactures, and sells software driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC is headquartered in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

Forward-looking Statements

This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

Contact: Joseph F. Verbitski, Jr, CFO
Phone: (215) 355-9100 x1531
E-mail: jverbitski@etcusa.com 

FAQ

What is the recent contract awarded to Environmental Tectonics Corporation for?

ETCC was awarded an $8.3 million contract for three ethylene oxide sterilization chambers for medical device sterilization.

How much have ETCC's year-to-date orders increased in fiscal 2023?

ETCC's year-to-date orders have increased to $17.4 million in fiscal 2023, up from $12.8 million in fiscal 2022.

Who is the international customer of ETCC's recent contract?

The specific identity of the international customer for ETCC's recent contract has not been disclosed.

What industries does ETCC's Sterilization Systems Group serve?

ETCC's Sterilization Systems Group serves the Medical Device, Pharmaceutical, Biotechnology, and Life Science industries.