Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that its wholly-owned subsidiary, Astronics Luminescent Systems, Inc., has been selected by Learjet Inc., a subsidiary of Bombardier, to supply the illuminated instrument panels for its newly introduced Learjet 70* and Learjet 75* light business jets.
Peter J. Gundermann, President and Chief Executive Officer of Astronics, commented, "Being selected as a supplier for the new Learjet 70 and Learjet 75 aircraft speaks to our best-in-class technology and the strong relationship we have built with Learjet over the years. We believe the quality and performance of our cockpit lighting products complements the innovative flight decks Learjet designs into their aircraft.”
Astronics will provide a complete suite of instruments panels that are illuminated with light emitting diodes (LEDs) which provide increased reliability while reducing power consumption.
ABOUT ASTRONICS CORPORATION
Astronics Corporation is a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries. Astronics’ strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from its leadership position and strategic direction. Astronics Corporation, and its wholly-owned subsidiaries, Astronics Advanced Electronic Systems Corp., Ballard Technology, Inc., DME Corporation and Luminescent Systems Inc., have a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices.
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Safe Harbor Statement
This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially include the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes, the demand for and market acceptance of new or existing aircraft which contain the Company's products, customer preferences, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.