| SOUTHAMPTON, Pa., January 2, 2003 -- Environmental Tectonics Corporation's (Amex: ETC) Sterilizer Division announced today that has been awarded a second contract for two additional Specialty Steam Sterilizers with its groundbreaking "One Step" (pat. pending) process, from a leading Pharmaceutical company. Under the contract, ETC will supply two cGMP, Sanitary 3A, Steam Autoclaves/Sterilizers with its "One Step" Stopper Sterilization/Drying process. This dynamic new sterilization process significantly reduces production time and costs for the processing of bagged stoppers, caps, and line seals, used in the production of parenteral drugs. The new process, developed by ETC, permits items to be sterilized and dried in a single operation, without removal from the sterilizer. This confers several significant cost benefits for pharmaceutical user:
Michael W. Allen, Vice President, BioMedical Systems and Sterilizer Group commented "The "One-Step" process provides substantial savings in production costs. I am extremely proud of the hard work and dedication our technical staff has put into developing the "One-Step" system, as it is probably one of the most significant technical advances in steam sterilization that has taken place in recent years. One of ETC's strengths is our willingness to take on challenges our competitors shy away from. In today's increasingly tough economic climate, "we have always done it this way" is not good enough. We are happy to work hard at making innovative technological solutions available to the pharmaceutical industry; their success is our success." ETC designs, develops, installs and maintains aircrew training systems, public entertainment systems, process simulation systems (sterilization and environmental), clinical hyperbaric systems, environmental testing and simulation systems, and related products for domestic and international customers. This report contains certain 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. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the Company that may cause our actual results, levels of activity, performance or achievements to be materially different from any other future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "could", "would", "expect", "plan", "anticipate", "believe", "estimate", "continue", or the negative of such terms or similar expressions. Factors that may cause or contribute to such a discrepancy include, but are not limited to, contract cancellations, political unrest in customer countries, general economic conditions, and those issues identified from time to time in our Securities and Exchange Commission filings and other public documents, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended February 22, 2002. |
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