Business
Star Navigation Announces Sale of 35 TERRASTAR Land Tracking Units
Star penetrates a new niche with resource companies TORONTO, May 23 /CNW/ - Star Navigation Syste...
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\nStar penetrates a new niche with resource companies\n\n\nTORONTO, May 23 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA)\n("Star" or the "Company"), a leading edge technology company focused on\nproviding Aerospace Solutions, both hardware and software platforms to assist\naviation operators worldwide, has now expanded its product line to land based\nvehicles. Star is pleased to announce the sale of 35 TERRASTAR Land Tracking\nunits, a satellite based terrestrial fleet management solution.\n\n\nThe customer, a subsidiary of one of the largest gold mining companies in\nthe world, has issued a purchase order for 35 TERRASTAR Land Tracking units.\n\n\nThis latest sale develops a new niche market for Star's TERRASTAR Land\nTracking product. Given the recent increase in profitability for the\nextraction of precious metals, exploration and production have increased\ndramatically worldwide. Given the remote destinations that many of these\nresource companies explore, the TERRASTAR Land Tracking product is a logical\nsolution for asset management. As such, resource companies are an excellent\ntarget for the TERRASTAR Land Tracking product.\n\n\nUnder the terms of the sale, Star will install the TERRASTAR Land\nTracking units and provide a complete solution. It is anticipated that\ndelivery and installation of these units will be completed by mid-June of\n2008.\n\n\nThis press release is available on the company's official on-line\ninvestor relations site for investor commentary, feedback and questions.\nInvestors are asked to visit http://www.agoracom.com/ir/StarNavigation and\nview the Star Navigation IR HUB. Alternatively, investors are asked to e-mail\nall questions and correspondence to [email protected]\n\n\nAbout Star Navigation:\n\n\nStar Navigation Systems Group Ltd.(www.star-navigation.com) owns the\nexclusive worldwide license to its proprietary, patented In-flight Safety\nMonitoring System, the first system in the world to feature in-flight\ndata-analysis, monitoring and diagnostics with a real-time connection between\naircraft and ground. Its real-time capability of tracking performance-trends\nand predicting incident-occurrence enhances aviation safety and improves fleet\nmanagement while reducing costs for the operator.\n\n\nCertain statements contained in this News Release constitute\nfo...