TORONTO, Oct. 20 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA) ("Star" or the "Company") is pleased to provide an update on current corporate initiatives.
An Engineering team from Star, lead by Chief Technology Officer, Dale F. Sparks, has just returned from China where he continued detailed discussions initiated on previous visits. Part of these discussions concerned Star's Second Generation Star Server Unit ("SSU"), currently under development by Star and Luxell Technologies Inc. (see Press Release May 14, 2009). The SSU is the heart of the In Flight Safety Monitoring System ("ISMS(TM)") and will offer greater functionality and performance, improved integration, reduced weight and lower cost. It also features significant growth potential to accommodate new applications.
In light of the recent aviation events, Star has been approached by major manufacturers in North America and Europe with respect to the capabilities of Star's ISMS(TM). Management believes that the solutions offered by Stars' patented ISMS(TM) technology position Star well to move forward in working jointly with industry leaders to provide real time monitoring. The ISMS(TM) continuously monitors selected avionics systems on the aircraft as it flies, instantly analyzing the data, transmitting the information and data alerts via satellite to the airline. The system provides an operator's ground personnel with the ability to monitor trends, predict possible failures, schedule repairs and assists the flight crew in taking preventive action as may be required. It acts as an early warning system, detecting the early signs of potential problems. Importantly, it performs these functions in "real-time" providing essential safety monitoring to the benefit of passengers, aircraft personnel and ground crew. ISMS(TM) can transmit up to 18000 parameters per minute, the system being limited only by bandwidth availability. Star's current solution, coupled with end of flight reports, assists in fuel management and savings, live flight data analysis (Live-FDA(TM)) proactive management and improved reporting of the initiatives such as FOQA & MOQA (Flight and Maintenance Operations Quality Assurance), that are required by various Civil Aviation Authorities and agencies.
Negotiations regarding the sale of Star's ISMS(TM) system continue with Pakistan International Airlines, as well as operators in India, Canada, the Middle East and other regions.
Star continues to remain vigilant with respect to any infringement of its patented technology.
For all Star Navigation Systems investor relations needs, investors are asked to visit the Star Navigation IR Hub at http://agoracom.com/ir/starnavigation where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors can email all questions and correspondence to SNA@agoracom.com, where they can also ask to be added to the investor email list to receive all future press releases and updates in real time.
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: Investors may also e-mail questions and correspondence to Viraf Kapadia, CEO, (416) 252-2889 or email@example.com or see www.star-navigation.com