March 20, 2007 -- API Nanotronics Corp. (OTCBB: APIO) ("API" or the "Company"), a leading supplier of electronic components to the defense and communications sectors, is pleased to announce continued order momentum. The company has recently received over $1.2 million in new orders from a number of top defense contractors.
The new orders totaled $1,285,000 and are highlighted by an order for $520,000 at API's recently acquired National Hybrid division. The order is from one of the world's largest defense and aerospace companies and is part of a specific program that API believes has the potential to be repeated by other divisions within the defense contractor.
Phillip DeZwirek, Chairman and CEO of API, stated, "We are very encouraged by the continued momentum across our multiple divisions. We are also very proud of our ability to serve most of the best defense companies in the world. With the recent hiring of Dr. Moskovits we are looking forward to working with customers on an even broader number of products and projects and further enhancing these strong relationships."
About API Nanotronics Corp. (OTCBB: APIO)
API Nanotronics Corp., through its wholly owned subsidiaries API Electronics Inc., National Hybrid Inc., Filtran Group, TM Systems and Keytronics, is engaged in the manufacture of electronic components and systems for the defense and communications industries. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin, and numerous other top technology-based firms around the world, API regularly ships off-the-shelf and custom designed products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York, Connecticut and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. API Nanotronics trades on the OTC Bulletin Board under the symbol APIO. For further information, please visit the company website at www.apinanotronics.com.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which API Nanotronics Corp. and its subsidiaries and affiliates have little or no control.
ON BEHALF OF THE BOARD
API Nanotronics Corp.
Phillip DeZwirek, CEO