Astronics Acquires Mass Transit Test Solution Provider Diagn...
Astronics announced that it has acquired the primary operating subsidiaries from mass transit market test solution provider, Diagnosys.
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 entered into a formal letter of intent (“LOI”) to provide a test system program for a customer in the transportation industry. The LOI provides for an anticipated program value of approximately $30 million with additional options for up to a total value of approximately $50 million over the next five years.
Astronics expects to finalize the remaining terms of the contract and receive a formal contract award within 60 days. In the meantime, systems design and development will begin.
“The selection of our test system solutions for this application is a testament to the technical competency and engineering excellence of our test business. This win demonstrates the breadth of our expertise for diverse applications and a growing base of customers.”
Astronics Test Systems leverages nearly 60 years of experience to offer automatic test expertise to electronics manufacturers in the aerospace, military, semiconductor, medical, space, mass transit, and automotive industries. Astronics’ test solutions ensure the world’s most advanced electronic products perform as designed, every time.
Astronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense and semiconductor industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For 50
years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, military branches, completion centers, and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics.
For more information on Astronics and its solutions, visit Astronics.com.
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