Southampton, PA, January 19, 2011 — Environmental Tectonics Corporation (OTC Bulletin Board: ETCC) ("ETC" or the "Company") is pleased to announce the appointment of Mr. Steve Wood as President of the Biomedical Division of the Company. Mr. Wood will be responsible for directing development and sales of the Company's BaraMed line of clinical hyperbaric chambers.
Since beginning his healthcare career as a respiratory therapist in 1972, Mr. Wood has been involved with the hyperbaric medicine field for more than 25 years. His experience includes as a clinician, facility development, and hyperbaric chamber manufacturing. He is a member of the Undersea and Hyperbaric Medical Society, American College of Hyperbaric Medicine, past Chairman of the Associates of the UHMS, and a contributor to the primary reference text on hyperbaric safety and other industry publications. In addition to his past credentials as a registered respiratory therapist, Mr. Wood is a certified hyperbaric technologist.
Mr. Wood stated, "I am very excited to join the ETC team. The Company's long history of innovation in clinical hyperbaric systems, which has culminated in the introduction of the OSCAR data management system and innovative BaraMed Select chamber, puts ETC at the forefront of hyperbaric chamber design."
William Mitchell, Chairman and CEO of ETC, stated, "Steve has vast experience in the hyperbaric field. His expertise and insights will help advance the growth and development of the Biomedical Division both domestically as well as internationally."
About ETC Biomedical Systems:
ETC Biomedical is the world's largest manufacturer of computerized monoplace hyperbaric chambers, with over 40 years of history and experience in the field of hyperbaric chamber technology beginning with the placement of our 1st hyperbaric chamber in 1971. Since ETC entered the clinical hyperbaric monoplace market in 1987, we have been a technology leader in the development of computerized hyperbaric chambers and systems. Further information on ETC's hyperbaric products can be found at www.etchyperbaricchambers.com. The Biomedical Systems is a division of Environmental Tectonics Corporation. (www.etcusa.com)
ETC designs, develops, installs and maintains aircrew training systems (aeromedical, tactical combat and general), disaster management training systems and services, entertainment products, sterilizers (steam and gas), environmental testing products, hyperbaric chambers and related products for domestic and international customers.
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 Lenfest, (ii) the potential delisting of the Company's common stock from the American Stock Exchange as a result of the Company's failure to comply with the AMEX listing standards, (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 10 K for the fiscal year ended February 29, 2008, in the section entitled "Risks Particular to Our Business." 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