Business
Star Navigation Corporate Update
Star Navigation Corporate Update.
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, April 27 /CNW/ - Star Navigation Systems Group Ltd. (\"Star\"),\n(TSX.V: SNA) (Frankfurt FSE: s3o) is pleased to provide the following\ncorporate update to its shareholders regarding previously announced sales\ncontracts, memoranda of understanding and general corporate developments.\n\nSales of Star's patented ISMS (TM) Flagship Product\n\nAs previously announced, Star has now signed purchase contracts and\nM.O.U's with several airline operators, including SpiceJet (Royal Airways),\nA.R. Airways, and Bahrain Executive Air Services (Bexair). As and when\nfinalized, these agreements represent approximately CDN $17 million at list\nprices. In addition, Star has entered into a trial installation agreement with\nPakistan International Airlines, the Pakistani national flag carrier. PIA has\na fleet strength of 49 aircraft and flies to over 87 destinations worldwide.\n\nSales Outlook\n\nStar is currently engaged in discussions with airline operators\nworldwide, including Canada, the Middle East, India, Pakistan, Europe and\nChina.\n\nFrankfurt Stock Exchange\n\nStar Navigations shares are listed for trading in Germany on the\nFrankfurt Stock Exchange (FSE) under the symbol s3o. The FSE listing is\nexpected to provide Star increased investor exposure in the European\ninvestment community. Star Navigation will begin a series of investor\npresentations on May 8, 2005 that will include the cities of London, Munich,\nZurich and Geneva.\n\nPatents\n\nStar owns the world wide license to the patent entitled \"Systems and\nMethod for Transportation Vehicle Monitoring or Analyzing,\" which has been\nawarded in the United Kingdom, Hong Kong and more recently Australia.\nPatents in the United States, Canada, Germany, and China are currently\npending.\n\nNew Product Development\n\nStar is in negotiations with partners for the development of a highly\nunique and innovative product using the ISMS(TM) to assist in the diagnosis\nand treatment of passengers taken ill during flight. Star hopes to conclude\nsuch discussions in the immediate future; at which time it will report any\nconcluded agreements to its shareholders.\n\nInstallations of Star's patented ISMS (TM) Flagship Product\n\nThe Company is pleased to report that full activation of its In-Flight\nSafety Monitoring System (ISMS(TM)) on a SpiceJet Boeing 737-800 is now\nimmi...