January 17, 2007 -- API Nanotronics, Corp. (OTCBB: APIO) ("API") (the "Company") is pleased to announce it has recently been awarded over U.S. $1.4 million in contracts. The contracts include awards from a variety of U.S. Department of Defense (DoD) agencies including the U.S. Army Communications and Electronics Command (CECOM), Defense Supply Center Columbus (DSCC), as well as major defense contractor Curtiss-Wright Controls Inc.
Under the agreements, API will supply a number of products including light detectors used on the U.S. Army AN/ALQ 144 countermeasure control system, which protects aircraft from air-to-air and ground-to-air heat seeking (infrared) missiles. Additional products include radar signal indicators used on the IP1150A/APR-39 (V) program, which provide aircraft with warning of radar directed air defense threat systems, and post-amplifier control drivers used on the U.S. Army's Forward Looking Infrared (FLIR) system.
The new contracts come on the heels of the Company's largest ever order by the DoD announced last June valued at over U.S. $9 million. API feels this news is reflective of the growing relationship between the Company, the DoD and its affiliates. As the demand for semiconductors and other mission-critical components grow, Management believes the Company will command an increasingly significant role as the preferred supplier of custom parts for critical, fixed-design systems. API has grown into a dynamic military electronics company through strategic acquisition of talent, capacity and technologies for delivering specialized hardware to its mounting list of customers. To continue its impressive growth and in anticipation of industry trends, the Company is embarking on new initiatives to offer customers next generation nanotechnology derived products developed at state of the art facilities under the oversight of top scientists and engineers.
About API Nanotronics Corp.
API Nanotronics Corp., through its wholly owned subsidiaries API Electronics 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.
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.
Philip DeZwirek, CEO