SIOUX FALLS, S.D., Feb. 22, 2011 (GLOBE NEWSWIRE) -- On February 10, 2011, Commander Craig Laws of the Naval Air Warfare Center - Aircraft Division, Special Surveillance Programs recognized Aerostar International, Inc. for its outstanding service, unwavering commitment and tireless dedication as a supplier of vital tethered aerostats, currently being used for force protection under Operation Enduring Freedom. CDR Laws explained his appreciation for the quick response Aerostar achieved through the Persistent Ground Surveillance System program (PGSS). He referenced several life-saving missions attained by the use of the PGSS aerostat systems. Laws expressed his gratitude to the Aerostar team by calling its employees 'Great Americans' and thanked all for their continued support of soldiers in Afghanistan. PGSS has made a significant impact on many by successfully identifying improvised explosive devices (IED's) and insurgents, ultimately saving lives.
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The presented award states "Aerostar International, Inc. - For your outstanding service, unwavering commitment and tireless dedication. Your contributions resulted in the rapid fielding of the Persistent Ground Surveillance System (PGSS). Your significant accomplishments made large and positive contributions to the program and are key reasons for the success over the past year. Thank you for your efforts, Mr. Alex Lovett, Special Assistant OSD/DDR&E/RFD." The presentation ended with company and personal achievement awards presented to Dan Rykhus, Lon Stroschein, Mark West, Martin Harms, Pat Thies, Mike Greco, and Deborah Husby.
In less than one year, Aerostar's first four aerostat systems have over 22,000 flight hours providing continuous persistent surveillance. Lon Stroschein, President said, "PGSS and other aerostat programs operating in Afghanistan have been credited for saving lives by detecting insurgent activity near Forward Operating Bases. It's a great feeling for our employees to know that our South Dakota based manufacturing company is contributing to the war effort, while saving money for taxpayers."Aerostar International, Inc. provides PGSS with rapidly deployable tethered aerostats for communication, intelligence, reconnaissance and surveillance payloads. Currently, the aerostats provided to PGSS are TIF-25K™ models which are approximately 25,000 cu ft in volume and 75 ft in length.
About Aerostar International
Aerostar International, Inc. is a wholly owned subsidiary of Raven Industries (Nasdaq:RAVN), a U.S. manufacturer providing Aerospace Products, Military Products, Tethered Aerostats, Protective Wear, Marine Navigation Products and Custom Inflatables to various markets. Raven Aerostar has been involved in lighter-than-air products since the 1950's. Today, Raven Aerostar engineers and manufactures aerostats for military and non-military use. Aerostar also manufactures personnel and cargo parachutes for the U.S. Army, protective wear for all branches of the military, high-altitude super-pressure balloons for NASA, high-altitude airships for the Space Missile Defense Command and custom character inflatables for the largest Thanksgiving Day Parade and theme parks.
About Raven Industries, Inc.
Since 1956, Raven Industries has provided high-quality, high-value technical products. Raven is publicly traded on NASDAQ (RAVN) and has earned an international reputation for innovation, product quality, high performance and unmatched service. With strengths in engineering and technological innovation, Raven provides custom solutions including precision agriculture applications, high performance specialty films, aerostats for communications and surveillance, and electronic manufacturing services.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expectations, beliefs, intentions or strategies regarding the future. Without limiting the foregoing, the words "anticipates," "believes," "expects," "intends," "may," "plans," and similar expressions are intended to identify forward-looking statements. The company intends that all forward-looking statements be subject to the safe harbor provisions of the Private Securities Litigation Reform Act. Although management believes that the expectations reflected in forward-looking statements are based on reasonable assumptions, there is no assurance these assumptions are correct or that these expectations will be achieved. Assumptions involve important risks and uncertainties that could significantly affect results in the future. These risks and uncertainties include, but are not limited to, those relating to [inability to achieve objectives established for research and development activities], production inefficiencies related to adding new capacity and new capabilities to tethered aerostat production, variability of releases under [indefinite delivery indefinite quantity (IDIQ)] US government contracts; or changes in competition, raw material availability, technology or relationships with the company's largest customers—any of which could adversely affect any of the company's product lines—as well as other risks described in Raven's 10-K under Item 1A. This list is not exhaustive, and the company does not have an obligation to revise any forward-looking statements to reflect events or circumstances after the date these statements are made.
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