Environmental Tectonics Corporation's Sterilization Systems Group Announces Major New Contract
May 05 2009 - 6:30AM
PR Newswire (US)
Supports ETC's 'Green' Initiative SOUTHAMPTON, Pa., May 5
/PRNewswire-FirstCall/ -- Environmental Tectonics Corporation's
(NYSE Amex LLC: ETC) ("ETC" or the "Company") Sterilization Systems
Group (SSG) today announced the award of a major new contract to
retrofit 12 sterilizers with new control systems, process piping
and the addition of a set of chillers and a chilled water
distribution loop to service these systems. The project value from
a domestic customer approximates $ 2.5 million. The project is a
comprehensive "environmentally green" project which is designed to
dramatically reduce the consumption of water by reusing cooling
water and nearly eliminating all wastewater from the current
sterilizers. The project calls for ETC to retrofit the customer's
older and dated sterilizers (which were manufactured by another
supplier) with state of the art control systems, vacuum systems and
adding the chilled water loop for cooling all twelve industrial
sterilizers. The project will save the customer significant money
in reduced energy consumption and maintenance expense, all while
improving process reliability with redundant back-up capacity. The
largest benefit will be the reduction of tens of thousands of
gallons of wastewater each year. Additionally, this project will
extend the useful life of their equipment at a fraction what it
would cost to replace their systems and comply with current
environmental standards. John Fay, SSG's Director of Professional
Services, stated, "We are very pleased to have received this major
project which supports ETC's "Green" initiative. This system will
reduce energy, cut maintenance costs and prolong the life of our
customer's equipment while drastically reducing their wastewater
from the process. Advancing applied sterilizer technology in an
environmentally sound way is an ongoing objective of ETC's
Sterilization Systems Group." ETC's Sterilization Systems Group
offers steam and Ethylene Oxide sterilizers, Services, Consulting
and Software Systems to the Medical Device, Pharmaceutical,
Biotechnology and Healthcare industries. ETC's SSG offers unique,
customized solutions to unique process systems challenges. ETC is
principally engaged in the design, manufacture and sale of (1)
software driven products and services used to create and monitor
the physiological effects of flight; (2) high performance jet
tactical flight simulation; (3) steam and gas sterilization; (4)
testing and simulation devices for the automotive industry; (5)
hyperbaric and hypobaric chambers; and (6) driving and disaster
simulation systems. This press release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are based on
ETC's current expectations and projections about future events.
These forward-looking statements are subject to known and unknown
risks, uncertainties and assumptions about ETC's and its
subsidiaries that may cause actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. These
forward-looking statements include statements with respect to the
Company's vision, mission, strategies, goals, beliefs, plans,
objectives, expectations, anticipations, estimates, intentions,
financial condition, results of operations, future performance and
business of the company, including but not limited to, (i)
potential additional funding by H. F. Lenfest, a major stockholder,
investor and member of ETC's Board, and PNC, (ii) the potential
delisting of the Company's common stock from the NYSE AMEX LLC,
(iii) projections of revenues, costs of materials, income or loss,
earnings or loss per share, capital expenditures, growth prospects,
dividends, capital structure, other financial items and the effects
of currency fluctuations, (iv) statements of our plans and
objectives of the Company or its management or Board of Directors,
including the introduction of new products, or estimates or
predictions of actions of customers, suppliers, competitors or
regulatory authorities, (v) statements of future economic
performance, (vi) statements of assumptions and other statements
about the Company or its business, (vii) statements made about the
possible outcomes of litigation involving the Company, (viii)
statements regarding the Company's ability to obtain financing to
support its operations and other expenses, and (ix) statements
preceded by, followed by or that include the words, "may," "could,"
"should," "looking forward," "would," "believe," "expect,"
"anticipate," "estimate," "intend," "plan," or the negative of such
terms or similar expressions. These forward-looking statements
involve risks and uncertainties which are subject to change based
on various important factors. Some of these risks and
uncertainties, in whole or in part, are beyond the Company's
control. Factors that might cause or contribute to such a material
difference include, but are not limited to, those discussed in the
Company's Annual Report on Form 10K, in the section entitled "Risks
Particular to Our Business", for the fiscal year ended February 29,
2008. Shareholders are urged to review these risks carefully prior
to making an investment in the Company's common stock. The Company
cautions that the foregoing list of important factors is not
exclusive. Except as required by federal securities law, the
Company does not undertake to update any forward-looking statement,
whether written or oral, that may be made from time to time by or
on behalf of the Company. Contact: Duane D. Deaner, CFO Tel:
215-355-9100 (ext. 1203) Fax: 215-357-4000 ETC - Internet Home
Page: http://www.etcusa.com/ DATASOURCE: Environmental Tectonics
Corporation CONTACT: Duane D. Deaner, CFO, +1-215-355-9100 (ext.
1203), Fax: +1-215-357-4000, of Environmental Tectonics Corporation
Web Site: http://www.etcusa.com/
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