ETC’s Aerospace Segment Awarded $12.4 Million in Contracts

Rhea-AI Summary

Environmental Tectonics Corporation (ETC) (OTC Pink: ETCC) announced that its Aircrew Training Systems business unit was awarded four contracts totaling $9.7 million. Three contracts are for repeat customers in the Middle East and the U.S., and one is for a mid-life upgrade of Spatial Disorientation equipment for an Asian customer. ETC Simulation also received a $2.7 million order for a customized ADMS simulation system for an emergency response training center. These contracts demonstrate strong relationships with global aeromedical customers and the expansion of ETC Simulation’s product line and customer base.

SOUTHAMPTON, Pa., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) announced that its Aircrew Training Systems business unit (“ATS”) was awarded four contracts totaling $9.7 million. Three are for CLS contracts for repeat customers in the Middle East, and the U.S., and one is for a mid-life upgrade of Spatial Disorientation equipment for an Asian customer.

In addition, ETC Simulation, located in Orlando, Florida, received a $2.7 million order for the delivery of a customized ADMS simulation system for an emergency response training center being established by an international client active in the oil industry.

“These contracts represent the continuing strong relationship with its global aeromedical customers and the expansion of ETC Simulation’s product line and customer base,” stated Robert Laurent, CEO and President.

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:      Tim Kennedy, CFO
Phone:        (215) 355-9100
E-mail:        info@etcusa.com  

FAQ

What contracts were awarded to Environmental Tectonics Corporation's Aircrew Training Systems business unit?

The business unit was awarded four contracts totaling $9.7 million, including three for repeat customers in the Middle East and the U.S., and one for a mid-life upgrade of Spatial Disorientation equipment for an Asian customer.

What was the value of the contracts awarded to ETC's Aircrew Training Systems business unit?

The contracts totaled $9.7 million.

What order did ETC Simulation receive?

ETC Simulation received a $2.7 million order for a customized ADMS simulation system for an emergency response training center.

Where is ETC Simulation located?

ETC Simulation is located in Orlando, Florida.

Who is the CEO and President of Environmental Tectonics Corporation?

Robert Laurent is the CEO and President of Environmental Tectonics Corporation.