Attention Business Editors:
Star Navigation signs additional MOU in China, with Aviation Data Communication Corporation (ADCC) - a subsidiary of CAAC and 9 Chinese airlines
TORONTO, Nov. 26 /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 an important Memorandum of Understanding (MOU) that has been signed
in Beijing at the offices of the Aviation Data Communication Corporation
("ADCC") - a jointly owned subsidiary of Civil Aviation Administration of
China ("CAAC") and 9 other airlines in China. This MOU is an important step
that will help facilitate a formal agreement for retrofit installations of
Star's TERRASTAR:RTM(TM) on the current aircraft fleets in China.
Mr. Viraf Kapadia, Star CEO said, "This is yet another example of the
ongoing effort in China started by Star this year. The objective is to be in
all emerging markets to promote and provide Star's TERRASTAR:Real-Time
Monitoring(TM)."
Dale F. Sparks, Star CTO stated: "This MOU not only signifies a positive
level of cooperation from the ADCC, but also demonstrates Star's multifaceted
approach to entering the aviation market in China. Moving ahead, our
collaboration with the ADCC will focus on developing integration plans and
negotiating a formal agreement. We look forward to working closely with the
ADCC and greatly appreciate their support."
The MOU will be used as the basis for supplying Star's
TERRASTAR:Real-Time Monitoring(TM) system to the current Chinese fleet for
installation as a retrofit product, providing efficiency, cost savings and
facilitating our comprehensive Fuel Management Information System, with an ROI
that strives for the quickest return possible. Both the parties will continue
to work together with the intent to enter into an agreement in the near
future.
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 or contact
www.star-navigation.com or Viraf Kapadia, CEO,
viraf.kapadia@star-navigation.com
<<
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
>>
%SEDAR: 00009078E
For further information: investors are asked to e-mail all questions and
correspondence to SNA@Agoracom.com or contact www.star-navigation.com or Viraf
Kapadia, CEO, viraf.kapadia@star-navigation.com
http://www.newswire.ca/en/releases/a...
