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Southampton, Pa., January 14, 2004 -- Environmental Tectonics Corporation's (Amex: ETC) Sterilizer Division announced today that it has been awarded a contract to rebuild two bulk autoclaves for a leading pharmaceutical company located in Southeastern Pennsylvania.
Under the contract, worth approximately $250,000, ETC will provide the factory and on-site services necessary to rebuild the client's bulk autoclaves in place to an "as-new condition." The rebuilding services will enable the client to gain substantial savings over the costs of new equipment and related facility renovations. The mechanical equipment, process piping, and control systems will be replaced with state-of-the-art technology that will meet or exceed current standards. ETC's factory will support the rebuilding effort by engineering, fabricating and assembling new equipment skids and control systems prior to the commencement of on-site work. This approach helps to ensure quality and minimizes equipment downtime during the on-site rebuilding phase. Michael W. Allen, Vice President, BioMedical Systems and Sterilizer Group, commented "We are extremely pleased that this client has again selected ETC to rebuild more of their bulk autoclaves. There is great value to be gained when equipment rebuilding is conducted properly. Our rebuilding services will optimize the useful life span of these autoclaves and provide the client with the latest and most reliable process control technology. The manuals supplied with our rebuilds include as-built drawings and other technical information needed for future support. I am proud of the dedication and quality workmanship of our technical staff which has allowed us to forge a long-term relationship with this client covering both new and rebuilt equipment. I am confident this will continue on this project." ETC designs, develops, installs and maintains steam and ethylene oxide gas sterilization systems, environmental testing and simulation systems, aircrew training systems, hypobaric (altitude training) chambers, deep-diving and clinical hyperbaric medicine systems, public entertainment systems and related products for domestic and international customers. This press release may include 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", "believe", "estimate", "continue", or the negative of such terms or similar expressions. Factors that might 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 28, 2003. |
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