Business
Luxell reports Product Deliveries Update
Luxell reports Product Deliveries Update.
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"\n\n\n\nTORONTO, June 15 /CNW/ - Luxell Technologies Inc. (TSX:LUX) reports that\nit continues to experience strong growth in its production and deliveries of\nits Flat Panel Displays into utility systems for Defense and Airborne\napplications.\n\n\nIn the past month, Luxell completed and delivered its 5th batch of\nmaintenance displays for the Eurofighter program. This represents the highest\nmonthly delivery for this unit in the past 12 months. These maintenance\ndisplays will be used on more than 340 aircraft in 5 European countries. The\ncompletion of this very important order with one of the leading defense system\nsuppliers represents a significant milestone that forms an excellent base for\nsubstantially larger orders in the future.\n\n\nIn addition, the Company also reports that it has significantly improved\nits turn-around time while maintaining 100% Quality and Service Performance\nfor the ongoing refurbishment of data entry panels used in the P3 Maritime\nPatrol Aircraft. This is a continuous product support program for the\ndelivered base of 375 units used primarily by the U.S. and Norwegian navy.\n\n\nLuxell is receiving follow-on orders to these programs, which entail\ndeliveries destined for use by European and U.S. defense industry customers.\nThe Company is also currently ramping up product support activities as part of\nits strategy to increase the display product lifetime maintenance and service\nsupport components of its business.\n\n\nIn addition to its increasing revenue stream, the company is also\nfinalizing the Management and Director changes, designed to help accelerate\nthe company's growth phase. As part of these changes, the Company also today\nannounced that in place of cash compensation, it has granted stock options\nunder its stock option plan to the Directors for fiscal 2007. The Directors\nwill have the option to purchase a total of 800,000 common shares in the\ncapital stock of the Company, exercisable until June 12, 2017 at a price of\n$0.14 per share. The granting of these stock options is subject to acceptance\nfor filing by the TSX. The Company reports that the Directors received no cash\ncompensation in fiscal 2006.\n\n\nAbout Luxell:\n\n\nLuxell designs, manufactures and licenses flat panel display technologies\nand solutions for Defense and Avionics industries. More information can be\n...