Message #19 From:
The Machine Date: February 26, 2008 12:31:44 AM
Airtrax Teams with General Dynamics for U.S. Navy Proposal
Tuesday February 12, 8:30 am ET
BLACKWOOD, N.J., Feb. 12 /PRNewswire-FirstCall/ -- Airtrax, Inc.
(OTC Bulletin Board: AITX - News), a developer of patented Omni-Directional
Technology with military and commercial applications, announced today that the
Company has teamed with General Dynamics Armament and Technical Products and
General Dynamics NASSCO, both business units of General Dynamics Corporation
(NYSE: GD - News), in a proposal to provide the U.S. Navy with a Shipboard Selective
Access and Retrieval System (SSARS).
SSARS is a General Dynamics vehicle concept that will utilize Airtrax's
patented Omni-Directional drive system to enhance mobility on board U.S. Naval
ships. The Omni-Directional vehicle would be used to lift and move an
assortment of military vehicles and storage containers in transit. SSARS would
enable on-board vehicles to be stowed very close together, while allowing any
vehicle to be retrieved easily and efficiently, without dedicating a vast
amount of deck space for maneuvering.
This is the second teaming of Airtrax and General Dynamics. In 2002, the
pair successfully completed a Phase 1 contract from the Office of Naval
Research to develop an autonomous Omni-Directional Vehicle for shipboard cargo
handling. "General Dynamics stated that they have once again sought Airtrax as
a partner in this endeavor because they recognize Airtrax as the world's
leader in Omni-Directional Technology. Airtrax is honored to collaborate with
General Dynamics. Together, we can demonstrate new technologies that allow
naval officers to manage massive amounts of heavy machinery, cargo and
vehicles with greater efficiency and ease-of-use," said Nicholas Fenelli,
chief of operations for Airtrax. "Our relationship with General Dynamics and
the SSARS concept provides the inroads to significantly impact our growing
government business segment now and in the future."
General Dynamics NASSC is one of three shipyards in the Marine Systems
group of General Dynamics Corporation. Located on scenic San Diego Bay, NASSCO
is the largest new construction shipyard on the West Coast. NASSCO has been
building large ships for commercial customers and the U.S. Navy since 1960.
General Dynamics Armament and Technical Products, an operating unit of the
General Dynamics Corporation, is a proven systems integrator of defense
products for all branches of the U.S. Department of Defense and the Ministries
of Defense of over 30 allied nations. For more information on General Dynamics
Corporation, visit http://www.generaldynamics.com/.
About Airtrax, Inc.
A U.S.-based developer of Omni-Directional Technology, Airtrax designs and
manufactures Omni-Directional Vehicles. The Airtrax patented wheel was
designed and developed by Airtrax after receiving a technology transfer from
the US Navy in the form of a Cooperative Research and Development Agreement
(CRADA).
The SIDEWINDER(TM) Lift Truck, MP2 Equipment Handlers, and the COBRA(TM)
Omni-Directional Aerial Work Platforms (AWPs) are the first Omni-Directional
vehicles using Omni-Directional Technology and the patented Airtrax wheel to
be commercially produced. The nearly maintenance-free drive system design
reduces maintenance costs, delivering cost efficiencies to companies both
large and small. The Airtrax patented Omni-Directional wheel is manufactured
exclusively for Airtrax vehicles.
Airtrax has developed business partnerships, received orders, and shipped
SIDEWINDER Lift Trucks to California, Wisconsin, Nevada, Texas, Arkansas,
Ohio, New Jersey, New York, Kentucky, Florida, and Pennsylvania in the United
States, and internationally to the United Kingdom, Japan, Spain, Ireland,
Israel, New Zealand, Canada, and South Africa.
The Private Securities Litigation Reform Act of 1995 provides a "Safe
harbor" for forward-looking statements. Certain of the statements contained
herein, which are not historical facts, are forward-looking statements with
respect to events, the occurrence of which involved risks and uncertainties.
These forward-looking statements may be impacted, either positively or
negatively, by various factors. Information concerning potential factors that
could affect the company is detailed from time to time in the company's
reports filed with the Securities and Exchange Commission. Customers of the
SIDEWINDER mentioned in this release may own shares of Airtrax's stock or may
own shares in the future.
