TSX Venture Exchange Symbol: SNA
TORONTO, Oct. 23 /CNW/ - Star Navigation Systems Group Ltd. (TSX: SNA-V) ("Star Navigation") today announced that the Government of India has granted a key patent, strengthening the Company's position in one of the world's largest aviation markets, and further protecting the Company's proprietary technology.
Mr. Viraf Kapadia, Chief Executive Officer of Star Navigation said, "This is our sixth patent award, and is a major milestone for the Company. Star's technology has been awarded patents in the United States, Canada, the United Kingdom, Hong Kong, Australia, and India. This latest patent solidifies our position in the world's largest growing aviation marketplaces. Star Navigation is a pioneer in the industry, and we will continue to protect our intellectual property aggressively against any infringement of our technology, as evidenced by our recent actions in the United States."
"The Indian patent is a significant achievement. According to industry estimates, the Indian aviation market is growing at a record pace of 20% per year. The Indian aviation industry is also expected to spend more than $86 billion over the next two decades. This patent grant ensures that Star Navigation will be in a position to play a significant role in that growth," said Mr. Dale F. Sparks, Chief Technology Officer of Star Navigation.
About Star Navigation: Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance-trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator.
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Star does not assume any obligation to update these forward-looking statements.
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