SOURCE: Airtrax Inc.

February 08, 2006 10:28 ET

Airtrax Reaches Milestone as 50th SIDEWINDER Rolls Off Production Line

BLACKWOOD, NJ -- (MARKET WIRE) -- February 8, 2006 --Airtrax, Inc. (OTC BB: AITX), a developer of patented, Omni-Directional technology with broad applications in the materials handling industry for the commercial and government markets announced today that the 50th SIDEWINDER ATX-3000 Omni-Directional Lift Truck rolled off the production line in the last week of January. Airtrax has steadily increased production of the SIDEWINDER at its Blackwood, New Jersey facility as acceptance for the technology grows and orders increase. Airtrax continues to streamline the manufacturing process with the goal of maximizing the efficiencies within the supply chain.

Peter Amico, CEO of Airtrax said, "We're obviously pleased with this news. This was a milestone that was set long ago with the initial parts orders. We have our sights set on even more aggressive production goals however, and we hope to significantly increase the monthly production out of our Blackwood facility to service the growing demand for our technology."

Nicholas Fenelli, COO of Airtrax, stated, "It was important to me that we reached this milestone in January because it more than doubled the average monthly rate for the fourth quarter of 2005. We hope to double the rate again in February. We have plans to introduce the COBRA family of Aerial Work Platforms, and new additions to the SIDEWINDER family, including Omni-Directional Narrow Aisle Lifts and Aircraft Pushback/Tow Tractors in the coming months, however, we can give no assurance that we will introduce these additions to the SIDEWINDER family. We have already sold and shipped SIDEWINDERS to at least 6 foreign countries and 7 US states. I have made it my personal goal to keep expanding our production capabilities to meet the growing market demand."

About Airtrax, Inc.

A U.S.-based developer of Omni-Directional technology, Airtrax designs and manufactures Omni-Directional vehicles. The Airtrax patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).

The SIDEWINDER™ Omni-Directional Lift Truck and the Airtrax-MEC Cobra™ aerial work platform (AWP) are the first Omni-Directional vehicles using Omni-Directional technology and the patented Airtrax wheel to be commercially produced. The nearly maintenance-free design also reduces maintenance costs, delivering cost efficiencies to companies both large and small. The Airtrax patented Omni-Directional wheel is manufactured exclusively for Airtrax vehicles. For more information and to view a must-see product demonstration, visit http://www.airtrax.com.

The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    John McNamara
    Cameron Associates
    +1212 554-5485

    Peter Amico
    Airtrax Inc.
    1-856-232-3000