Astronics Test Systems Awarded New York City Transit Contract
Astronics Test Systems Awarded Approximately $30 Million Contract to Support Kawasaki Rail Cars, Inc. for New York City Transit New Subway Cars
Astronics Corporation (Nasdaq:ATRO), a leading provider of advanced technologies for the global aerospace, defense and semiconductor industries, announced today that its wholly owned subsidiary Astronics Test Systems has been awarded a contract to develop and supply a test system to Kawasaki Rail Car, Inc. (KRC), a subsidiary of Kawasaki Heavy Industries, Ltd. The contract is valued at approximately $30 million with additional options for a total potential value of approximately $50 million.
The test system will supply post-delivery maintenance support for new generation subway cars being delivered by KRC to the Metropolitan Transportation Authority’s New York City Transit (NYCT). The cars are scheduled to be delivered to NYCT from 2020 to 2023. This program is expected to generate revenue for five years beginning in the first quarter of 2019.