Northstar Electronics (NEIK) Receives CDN$2.6M Console Contract From L-3 Communications MAPPS Inc.
Market Wire, March, 2009
Northstar Electronics, Inc. (OTCBB: NEIK) announces that its wholly owned subsidiary, Northstar Network Ltd. (NNL), has received a CDN$2.6M (US$2.05 M) contract from L-3 Communications MAPPS Inc . for Machinery Control Console (MCC) production under the Halifax Class Patrol Frigate IPMS (Integrated Platform Management System) program. NNL will deliver a variety of MCC consoles under this contract, undertaking support engineering for the design of the prototype and manufacturing, assembly and factory acceptance testing of the production consoles.
"We continue to see strong evidence that the defense sector is a solid area for prosperity in these tough economic times, especially with upgrade and refurbishment programs," says Dr. Wilson Russell, CEO of Northstar. He further adds, "We are pleased to be working on this very important five year, Canadian frigate upgrade program following on from work we have carried out previously on manufacturing command and control consoles for Canada's submarines."
For further information contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, yes@yesinternational.com , #800-631-8127 and/or Ms. Beverly Jedynak, Media Relations, Martin Janis & Co, Inc., b.jedynak-janispr@att.net , (312) 943-1000 Ext. 12.
About Northstar Electronics, Inc.
Northstar Electronics, through its subsidiaries, Northstar Technical Inc. and Northstar Network Ltd., provides electronics products to the marine industry and provides engineering, prototyping and production services to the defense and Homeland Security industries. www.northstarelectronics.com
About L-3 Communications
L-3 Communications employs over 64,000 people world wide and is a prime contractor in aircraft modernization and maintenance, C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2008 sales of US$14.9B.
Safe Harbor: Included in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor created by those sections. Although the Company believes such expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove correct. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain internal and external factors.
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Contact: Rich Kaiser Investor Relations YES INTERNATIONAL Email Contact 800-631-8127
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