Business
Star Navigation signs additional MOU with Chinese government supplier at the Zhuhai airshow in China
TORONTO, Nov. 11 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA) ("Star" or the "Company"...
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 11 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA)\n("Star" or the "Company"), a leading edge technology company focused on\nproviding Aerospace Solutions to aviation operators worldwide, is pleased to\nannounce that, further to the Company's press release of October 29, 2008, its\ndiscussions with a state owned avionics corporation in China, AVIC Shanghai\nAero Measurement-Controlling Research Institute, China ("SAMRI"), have\nresulted in the signing of an additional Memorandum of Understanding ("MOU").\n\n\nSAMRI is mainly engaged in research & development of aeronautical\nmeasurement and control techniques, and in the development of packages of\nrelated equipment and systems, integrating optics, mechanics and electronics.\nThis new MOU deals with agreement to jointly prepare for the exchange of\nengineering personnel between Star and SAMRI and for system integration\ntraining and technical coordination, and for finalizing the draft\nCollaborative Framework Agreement ("CFA").\n\n\nStar is very pleased with the progress of this significant partnership\nand as provided for in this new MOU, we expect to have the Collaborative\nFramework Agreement ("CFA") signed in the next few days.\n\n\nThe CFA will be used as the basis for supplying Star's\nTERRASTAR:Real-Time Monitoring(TM) system to Chinese Original Equipment\nManufacturers ("OEM") for installation on new commercial passenger aircraft\nbuilt by the biggest commercial aircraft manufacturers in China as the parties\nwill work together with the intent to enter into a final partnership\nagreement/contract.\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 forward-\nlooking statements. When used in this document, the words "may&quo...