API Technologies Receives $3.4 Million Order to Provide Microwave Products for Next Generation Counterfire Target Acquisition AESA Radar |
API Technologies Corp.
120 Corprate Blvd.
South Plainfield, NJ, 07080
USA
Press release date: September 17, 2012
ORLANDO, FL - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, today announced that it has received a new $3.4 million order to provide high-reliability receiver protectors for use in mobile, target acquisition Active Electronically Scanned Array (AESA) radar. These next generation radar products will be used to support battlefield countermortar (Firefinder) systems. API Technologies' RF/Microwave and Microelectronics (RF2M) Division won the contract from a Fortune 100 global defense Original Equipment Manufacturer. Additional follow-on requirements between $3 to $5 million per year are anticipated through 2014.
"This award gives API the continued opportunity to provide superior microwave products for leading edge, mission-critical defense applications," said Bel Lazar, President and Chief Executive Officer of API Technologies. "We are pleased to support the U.S. Army in this significant program, aimed at enhancing warfighter capabilities across the globe."
About API Technologies Corp.
API Technologies designs, develops and manufactures electronic systems, subsystems, RF and secure solutions for technically demanding defense, aerospace and commercial applications. API Technologies' customers include many leading Fortune 500 companies. API Technologies trades on the NASDAQ under the symbol ATNY. For further information, please visit the Company website at www.apitechnologies.com.
API Technologies Corp.
4705 S. Apopka Vineland Road
Suite 210
Orlando, FL 32819 US
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