SOURCE: Phoenix International Ventures

Phoenix International Ventures

April 27, 2011 12:32 ET

Phoenix Aerospace Inc. Enters Into a Licensing Agreement With DRS Environmental Systems, Inc.

CARSON CITY, NV--(Marketwire - Apr 27, 2011) - Phoenix Aerospace, Inc. (Phoenix), a subsidiary of Phoenix International Ventures (OTCBB: PIVNE), announced today that it has entered into a licensing agreement with DRS Environmental Systems, Inc. regarding re-manufacturing, repair, service or manufacturing of DRS ground flight line support equipment and related products that are either no longer in production or that require low volume production. The agreement is for five years and allows for the inclusion of additional products that are ending their production life cycle.

Commenting on the Agreement, Phoenix's CEO, Mr. Zahir Teja, said: "This is a major breakthrough for our company. This licensing agreement with DRS Environmental Systems allows us to market a wider variety of products to meet legacy flight line support equipment demands which is a major event for the growth of our company. More importantly, apart from additional revenues, it enables us to provide total solutions to our customers."

About Phoenix Aerospace, Inc.
Phoenix Aerospace, Inc. of Carson City, Nevada, specializes in manufacturing, re-manufacturing and upgrading of Ground Support Equipment (GSE) which is primarily used to support military aircraft.

About DRS Environmental Systems, Inc.
DRS Environmental Systems designs and builds rugged ground environmental control systems, flight line support equipment, decontamination systems and custom shelters and trailers to support military operations, emergency first responders and commercial applications.

About DRS Technologies
DRS Technologies, headquartered in Parsippany, NJ, is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company is a wholly owned subsidiary of Finmeccanica S.p.A. which employs more than 73,000 people worldwide. For more information about DRS Technologies, please visit the company's website at www.drs.com.

Contact Information

  • Phoenix International Ventures, Inc.
    Contact:
    Zahir Teja
    Email Contact

    Investors Relations - Strategic Global Advisors, LLC
    Contact:
    Stan Altschuler
    (212) 838 1510

    DRS Technologies, Inc.
    Contact:
    Brian T. Gallagher
    Director, Public Affairs
    (973) 898-7322
    Email Contact