Orbit International Corp.'s TDL Subsidiary Announces Exclusive Supplier Partnering Agreement with Synexxus, Inc. for the Oberon V4 Electronic Keel System Deployable in a Family of MRAP VehiclesPotential for Significant Orders and Revenues Over Five Year Term
Defense News ~ HAUPPAUGE, N.Y.--February 25, 2010, (BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT - News), a defense and industrial electronics manufacturer, systems integrator and software solution provider, today announced that its Tulip Development Laboratory (“TDL”) subsidiary, located in Quakertown, PA, has signed a Supplier Partnering Agreement (“SPA”) with Synexxus Inc., (“Synexxus”), located in Arlington, VA for the exclusive right to manufacture and supply its color display in support of the Oberon V4 Electronic Keel System (“Oberon”) or any display derivative configuration, for a period of five (5) years. As previously announced, TDL will be demonstrating the Oberon V4 system at the AUSA Symposium and Exhibition, Fort Lauderdale, FL., from February 25 to 27. Oberon will also be on display and incorporated in another MRAP vehicle manufactured by a leading global defense contractor.
Synexxus, Inc. has successfully designed an open architecture data distribution and information system that has been designated as the Command, Control, Communication, Computers, Intelligence, Surveillance and Reconnaissance (“C4ISR”) system to be deployed in a number of MRAP vehicle configurations. Most recently, Oberon was selected for deployment in the Mine Resistant Ambush Protected-All Terrain Vehicle (MRAP-ATV) manufactured by the Oshkosh Corporation. For this particular system, TDL will provide two of its 15inch color displays for each MRAP-ATV vehicle that will be integrated with Oberon.
David Gutman, President of TDL indicated, “We have been working with the Synexxus team for quite some time, in an effort to design and develop a quality, cost competitive display, that will support open architecture networking systems for a number of mission critical programs. Greg Glaros, President of Synexxus, indicated that Oberon was initially designed and developed for soldiers who wanted to control their vehicle-based technologies-sensors, blue force tracking and weapons, from a single interface, similar to people who want to access multiple programs from their desktop computer. With that objective, the Synexxus team had successfully designed a cockpit-like technology that could turn armored vehicles into multimedia hubs, and allow soldiers to control sensors and weapons from the safety of their armored vehicles. Given the success of their vision, Synexxus has now deployed a number of Oberon systems specifically designed for rapid deployment, reconfigured for changing missions that support ground vehicle, shipboard, and avionic defense electronic programs.”
Gutman commented, “As the exclusive source of supply to Synexxus for all Oberon V4 display requirements, we understand and appreciate the significance of potential upcoming opportunities, as well as the demanding responsibilities that will be required to assure the ongoing success of Oberon. In consideration for the exclusive rights to provide displays to Synexxus for Oberon, TDL has established a number of internal benchmark commitments designed to demonstrate continued manufacturing improvements for design, quality, and delivery. Additionally, TDL has provided a highly competitive pricing structure for the term of the Agreement.”
Dennis Sunshine, President and Chief Executive Officer of Orbit International Corp. commented, “All of the business, operational and logistical issues required to support Oberon are now in place, included in the SPA. It is our understanding that the government is still determining the number of MRAP-ATVs coming off the assembly line that will be equipped with Oberon. In light of the number of MRAP-ATVs, as well all other vehicles in the MRAP family currently in production, we believe that the impact on future display orders needed for Oberon could have a significant impact on our revenues and profitability over the life of the five year agreement. Through its larger Quakertown, PA facility, TDL it is well positioned to meet potential high quantity production requirements for Oberon supporting time-sensitive deployment schedules. As part of the SPA, TDL is working with the Synexxus team to develop a time-line to manufacture and store displays for quick turnaround requirements. There will be a number of displays on our manufacturing floor, as work in progress units, available for normal scheduled releases.”
Sunshine concluded, “Synexxus has successfully deployed a reliable, versatile, unique open architecture Oberon networking system that can be easily integrated in a number of MRAP vehicles. Oberon has gained the confidence of a number of vehicle personnel that constantly operate under mission deployments in the harsh terrain of Iraq and Afghanistan. The number of positive comments coming directly from MRAP-ATV operators, together with its ease of installation, mission versatility and significant life cycle program cost savings, may have contributed to the selection of the Oberon solution. Again, we are committed to provide quality displays, pursuant to accelerated delivery dates and quantities, at a cost competitive price, that will be reliable in Oberon battlefield conditions. We are extremely proud to be a part of the Oberon Team.”
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and COTS power solutions.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, but not limited to, statements regarding any acquisition proposal and whether such proposal or a strategic alternative thereto may be considered or consummated; statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports and its registration statement on Form S-3 containing a final prospectus dated January 11, 2006. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
Synexxus, Inc. has successfully designed an open architecture data distribution and information system that has been designated as the Command, Control, Communication, Computers, Intelligence, Surveillance and Reconnaissance (“C4ISR”) system to be deployed in a number of MRAP vehicle configurations. Most recently, Oberon was selected for deployment in the Mine Resistant Ambush Protected-All Terrain Vehicle (MRAP-ATV) manufactured by the Oshkosh Corporation. For this particular system, TDL will provide two of its 15inch color displays for each MRAP-ATV vehicle that will be integrated with Oberon.
David Gutman, President of TDL indicated, “We have been working with the Synexxus team for quite some time, in an effort to design and develop a quality, cost competitive display, that will support open architecture networking systems for a number of mission critical programs. Greg Glaros, President of Synexxus, indicated that Oberon was initially designed and developed for soldiers who wanted to control their vehicle-based technologies-sensors, blue force tracking and weapons, from a single interface, similar to people who want to access multiple programs from their desktop computer. With that objective, the Synexxus team had successfully designed a cockpit-like technology that could turn armored vehicles into multimedia hubs, and allow soldiers to control sensors and weapons from the safety of their armored vehicles. Given the success of their vision, Synexxus has now deployed a number of Oberon systems specifically designed for rapid deployment, reconfigured for changing missions that support ground vehicle, shipboard, and avionic defense electronic programs.”
Gutman commented, “As the exclusive source of supply to Synexxus for all Oberon V4 display requirements, we understand and appreciate the significance of potential upcoming opportunities, as well as the demanding responsibilities that will be required to assure the ongoing success of Oberon. In consideration for the exclusive rights to provide displays to Synexxus for Oberon, TDL has established a number of internal benchmark commitments designed to demonstrate continued manufacturing improvements for design, quality, and delivery. Additionally, TDL has provided a highly competitive pricing structure for the term of the Agreement.”
Dennis Sunshine, President and Chief Executive Officer of Orbit International Corp. commented, “All of the business, operational and logistical issues required to support Oberon are now in place, included in the SPA. It is our understanding that the government is still determining the number of MRAP-ATVs coming off the assembly line that will be equipped with Oberon. In light of the number of MRAP-ATVs, as well all other vehicles in the MRAP family currently in production, we believe that the impact on future display orders needed for Oberon could have a significant impact on our revenues and profitability over the life of the five year agreement. Through its larger Quakertown, PA facility, TDL it is well positioned to meet potential high quantity production requirements for Oberon supporting time-sensitive deployment schedules. As part of the SPA, TDL is working with the Synexxus team to develop a time-line to manufacture and store displays for quick turnaround requirements. There will be a number of displays on our manufacturing floor, as work in progress units, available for normal scheduled releases.”
Sunshine concluded, “Synexxus has successfully deployed a reliable, versatile, unique open architecture Oberon networking system that can be easily integrated in a number of MRAP vehicles. Oberon has gained the confidence of a number of vehicle personnel that constantly operate under mission deployments in the harsh terrain of Iraq and Afghanistan. The number of positive comments coming directly from MRAP-ATV operators, together with its ease of installation, mission versatility and significant life cycle program cost savings, may have contributed to the selection of the Oberon solution. Again, we are committed to provide quality displays, pursuant to accelerated delivery dates and quantities, at a cost competitive price, that will be reliable in Oberon battlefield conditions. We are extremely proud to be a part of the Oberon Team.”
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and COTS power solutions.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, but not limited to, statements regarding any acquisition proposal and whether such proposal or a strategic alternative thereto may be considered or consummated; statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports and its registration statement on Form S-3 containing a final prospectus dated January 11, 2006. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
Contact:
Orbit International Corp.
Orbit International Corp.
Mitchell Binder, 631-435-8300
Executive Vice President
or
Tulip Development Laboratory
David Gutman, 215-538-8820
President
Related Headlines
Orbit International Corp.'s TDL Subsidiary Announces Exclusive Supplier Partnering Agreement with Synexxus, Inc. for the Oberon V4 Electronic Keel System Deployable in a Family of MRAP Vehicles - Business Wire
Orbit International Corp.'s TDL Subsidiary to Demonstrate the Synexxus Oberon V4 Electronic Keel System, Designed for MRAP-ATV Vehicles at AUSA Symposium and Exhibition - Business Wire
Orbit International's Power Group Receives Initial Production Order in Support of Oil and Gas Services Industry - Business Wire
Orbit International Corp. Receives New Order in Excess of $1.0 Million for Rugged Tablet - Business Wire
Orbit International Corp. Receives New Order in Excess of $1.7 Million for Common Transponder Program - Business Wire
Posts
No comments:
Post a Comment