TORONTO, Dec. 8 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA) ("Star" or the "Company"), a leading edge technology company focused on providing Aerospace Solutions to assist aviation operators worldwide, is pleased to announce that it has appointed SA Mena Avionics WLL ("SA Mena") as installation, maintenance and warranty supplier for Star's STAR-ISMS(TM) systems in the Middle East. SA Mena, a joint venture established with Scandinavian Avionics SA, a leading international provider of avionic services, is part of the Mena Aerospace Enterprises WLL group. It will also market and sell the system. Details of the appointment were discussed by the parties during meetings held during the recent Dubai Airshow.
Mr. Viraf Kapadia, CEO of Star said, "We are pleased to have a company of the quality of SA Mena working with us in support of our STAR-ISMS(TM) system. Customer satisfaction is our priority and we know that SA Mena has the experience and commitment required in order to help Star maintain this objective. The Dubai Airshow gave us an excellent opportunity to meet with the principals of SA Mena, in addition to numerous representatives of various airlines and other service providers, and we look forward to maintaining and building upon all of those contacts."
Further to Star's press release dated November 26, 2009, the TSX Venture Exchange has now accepted for filing the Company's private placement, which is now closed. The four month hold period on the relevant common shares will expire April 8, 2010.
About MENA Aerospace Enterprises WLL
MENA Aerospace Enterprises WLL is the primary holding company and administrative head for all companies and business units within the corporate group. The corporate group consists of MAE Aircraft Management WLL which holds an Aircraft Operating Certificate issued by Bahrain's Civil Aviation Affairs to commercially operate aircraft; MAE Jet Charters Company WLL which sells and coordinates V-VIP and corporate travel on chartered business jets; and SA MENA Avionics WLL, an EASA Part 145 & 147, FAA and BCAA approved MRO which specializes in the installation, maintenance and repair of avionic and electronic systems on board aircraft. MENA Aerospace has been established in Bahrain since 2004. The corporate group is majority Bahraini owned, and employs in excess of fifty people at its offices and facilities located in various areas of Bahrain.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
SOURCE STAR NAVIGATION SYSTEMS GROUP LTD.
For further information: For further information: Please visit www.star-navigation.com or Viraf Kapadia, CEO, (416) 252-2889, firstname.lastname@example.org; AGORACOM Investor Relations, IR HUB http://www.agoracom.com/ir/StarNavigation, E-mail all questions and correspondence SNA@agoracom.com, http://www.agoracom.com/ir/StarNavigation