Wednesday, 25 June 2008

AeroMechanical Near Southern Hemisphere

AeroMechanical Services Ltd., (TSX:V-AMA)
Basic Shares: 81 million
Fully Diluted: 93 million


A company described as a Latin American cargo carrier was the latest airline to sign up for installation of AeroMechanical's groundbreaking technology - nicknamed the bluebox.
The technology, formally known as the afirs(TM) UpTime(TM) system, is scheduled to be fitted into the cockpits of six of the unidentified carrier's aircraft. Under the terms of the three-year pact, AMA should receive gross proceeds of over one-half million dollars.
Under normal circumstances, contracts are extended beyond the initial sign up term to cover the life of the aircraft, which can run up to 30 years. That extended agreement would provide AMA with substantially more in monthly recurring revenues.
With this contract, AMA now has 727 aircraft under installation contracts through 32 airlines.
To view the full press release, please click here.