TORONTO, ONTARIO--(Marketwired - June 3, 2014) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") announces that it has received a firm purchase order from one of its distributors in Asia for Five (5) STAR-A.D.S.™ systems and Four (4) STAR- ISMS® Lite systems, together with associated communications and reporting services.
Mr. Viraf Kapadia, CEO of Star Navigation stated:
"This is a great opportunity for Star to provide the services and benefits of our STAR-A.D.S. ™ and STAR-ISMS® Lite systems to both regional and business jets, and to obtain further Supplemental Type Certificates to add to our portfolio. We are also looking forward to enhancing our long-term relationships with our distributor network, which will provide increased visibility to Star and its increasing number of product offerings in both the STAR-ISMS and STAR -MMI Divisions.
This systems contract is valued at over $1,500,000, based on list price. In addition, the initial five (5) year term of the services contract will generate annual services revenue. It also confirms the appeal of our solutions not only for commercial airlines, but also for regional and business aircraft operators as well."
About Star Navigation: (www.star-navigation.com)
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the heart of the STAR-A.D.S. ™ System. It is the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.
Star's MMI Division designs and manufactures high performance mission critical flight deck, flat panel displays for defence and commercial aviation industries worldwide. Some of the Star MMI Division's current customers include;
- Lockheed Martin - USA
- Raytheon - USA
- BAE - UK
- Jepico - Japan
- IRTS - France
Certain statements contained in this News Release may constitute forward-looking statements. When used in this document, the words "may" "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
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