19th Jul 2006 07:01
Turbo Power Systems Inc19 July 2006 19 July 2006 Turbo Power Systems wins second $26 million Boeing Dreamliner contract Turbo Power Systems today announced a second Boeing 787 "Dreamliner" contract,using its innovative motor drive technology worth $26 million through the lifeof the contract, depending on final fleet size. The contract, through Hamilton Sundstrand, is for the design and supply of themotor controller for the Ram Fans used as part of the power electronics coolingsystem on the aircraft. In addition, Turbo Power Systems expects to benefit from the substantial spareparts market which could be worth in the region of $10m. Hamilton Sundstrand, a unit of United Technologies Corp, is a leading supplierof aircraft systems and services. Headquartered in Windsor Locks, Connecticut,it employs approximately 16,000 people worldwide. United Technologies, based inHartford, Conn., is a diversified company that provides high-technology productsand services to the aerospace and building industries. Hamilton Sundstrand was chosen by Boeing to provide a wide array of systems forthe 787 and expects the program will generate more than $8 billion in revenuesover its life. The 787 "Dreamliner" is a family of mid-sized airplanes, which will provideexceptional fuel efficiency and passenger comfort. The aeroplane is planned toenter service in 2008, and has already generated a large number of confirmedorders from airlines around the globe. In July 2005 Turbo Power Systems announced its first Boeing related contractplaced by Eaton for high performance electronic drives which provide motorcontrol for the fuel transfer and jettison pumps. The selection by Eaton andthis subsequent success confirms Turbo Power Systems' capacity for meeting thechallenging commercial and technical demands in this sector. In June 2006, Turbo Power Systems received its AS9100 certificate from theaccreditation body NQA, confirming that it's Quality Systems were now approvedfor aerospace electronics applications. The approval forms part of the Societyof British Aerospace Companies (SBAC) aerospace sector certification scheme ,and is the internationally recognized quality standard for companies wishing toparticipate in this very demanding sector. Michael Hunt, Chief Executive of Turbo Power Systems, commented that, "beingasked to work on an international aerospace programme of this importance by asecond major supplier to Boeing represents an amazing achievement and underlinesthe strong credentials of our products and people". For further information, please contact: Turbo Power Systems Inc Tel: +44 (0)20 8564 4460Michael Hunt Chief ExecutiveStephen Sadler Chief Financial Officer Gavin Anderson (PR) Tel: +44 (0)20 7554 1400Ken Cronin, Michael Turner Company Website:www.turbopowersystems.com NOTES TO EDITORS About Turbo Power Systems Turbo Power Systems develops innovative products for power generation and powerconditioning. The Group was established in 1993 as a spin-off from ImperialCollege, London and was floated on the London stock exchange in July 2000 andsoon after obtained a secondary listing in Toronto. In July 2001, the Groupacquired Intelligent Power Systems Limited (I-Power) specialising in powerelectronics. In July 2006, the Group changed its name from Turbo Genset Inc. toTurbo Power Systems Inc. About Power Electronics Power electronics products take a range of power inputs and condition them toachieve outputs of precisely defined characteristics for applications such asmotor drives for industrial and aerospace applications, industrial lasers, UltraViolet sterilization systems and railway power electronics systems. About Hamilton Sundstrand Hamilton Sundstrand, a subsidiary of United Technologies Corporation, is amongthe largest global suppliers of technologically advanced aerospace andindustrial products. Headquartered in Windsor Locks, Connecticut, U.S.A. The company designs and manufactures aerospace systems for commercial, regional,corporate and military aircraft, and is a major supplier for international spaceprograms. Industrial products serve industries ranging from hydrocarbon,chemical and food processing to construction and mining. Hamilton Sundstrand's Aerospace business units provide technologically advancedsystem, components and services for the commercial and military aerospace, andrelated industries. Hamilton Sundstrand Industrial consists of four separatecompanies. Forward Looking statements This news release contains forward-looking statements. Forward-lookingstatements include statements concerning plans, objectives, goals, strategies,future events, or performance, and underlying assumptions and other statementsthat are other than statement of historical fact. These statements are subjectto uncertainties and risks including, but not limited to, the ability to meetongoing capital needs, product and service demand and acceptance, changes intechnology, economic conditions, the impact of competition, the need to protectproprietary rights to technology, government regulation, and other risks definedin this document and in statements filed from time to time with the applicablesecurities regulatory authorities. This information is provided by RNS The company news service from the London Stock Exchange END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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