STAR NAVIGATION SYSTEMS GROUP LTD.
Attention Business Editors:
Star Navigation signs additional MOU with Chinese government supplier at the Zhuhai airshow in China
TORONTO, Nov. 11 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA)
("Star" or the "Company"), a leading edge technology company focused on
providing Aerospace Solutions to aviation operators worldwide, is pleased to
announce that, further to the Company's press release of October 29, 2008, its
discussions with a state owned avionics corporation in China, AVIC Shanghai
Aero Measurement-Controlling Research Institute, China ("SAMRI"), have
resulted in the signing of an additional Memorandum of Understanding ("MOU").
SAMRI is mainly engaged in research & development of aeronautical
measurement and control techniques, and in the development of packages of
related equipment and systems, integrating optics, mechanics and electronics.
This new MOU deals with agreement to jointly prepare for the exchange of
engineering personnel between Star and SAMRI and for system integration
training and technical coordination, and for finalizing the draft
Collaborative Framework Agreement ("CFA").
Star is very pleased with the progress of this significant partnership
and as provided for in this new MOU, we expect to have the Collaborative
Framework Agreement ("CFA") signed in the next few days.
The CFA will be used as the basis for supplying Star's
TERRASTAR:Real-Time Monitoring(TM) system to Chinese Original Equipment
Manufacturers ("OEM") for installation on new commercial passenger aircraft
built by the biggest commercial aircraft manufacturers in China as the parties
will work together with the intent to enter into a final partnership
agreement/contract.
About Star Navigation:
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the
exclusive worldwide license to its proprietary, patented In-flight Safety
Monitoring System, 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.
Certain statements contained in this News Release 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. Star does not assume
any obligation to update these forward-looking statements.
This press release is available on the company's official on-line
investor relations site for investor commentary, feedback and questions.
Investors are asked to visit: http://www.agoracom.com/ir/StarNavig... and
view the Star Navigation IR HUB. Alternatively, investors are asked to e-mail
all questions and correspondence to SNA@Agoracom.com
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For further information: Please visit www.star-navigation.com or contact
Viraf Kapadia, CEO, viraf.kapadia@star-navigation.com; AGORACOM Investor
Relations, Investor Relations, SNA@agoracom.com,
http://www.agoracom.com/ir/StarNavig...
http://www.newswire.ca/en/releases/a...
