stratech systems limited MEDIA RELEASE For immediate release Stratech’s iFerret™ Granted Buy American Waiver Singapore, 7 May 2012 – Singapore Exchange Mainboard-listed Stratech Systems today announces that its iFerret™ intelligent Airfield/Runway Surveillance and FOD (Foreign Object & Debris) Detection System has been granted a Buy American Waiver by the FAA (Federal Aviation Administration). The Buy American Preferences regulations require purchases in AIP (Airport Improvement Program) funded projects to be produced in the U.S. The FAA however has the authority to waive the Buy American Preferences if certain conditions are met. With the Waiver, iFerret™ is now officially on the FAA’s Buy American Conformance List1. As stated by the FAA, this is a list of equipment that is frequently used on AIP funded projects that meets the Buy American requirements or has been issued a Nationwide Waiver. The Nationwide Waiver will allow iFerret™ to be used on AIP funded projects without having to receive separate waivers for each project. This enables projects to start quickly, while still ensuring the funds used for airport projects are being directed to manufacturers that meet the Buy American requirements. The AIP2 provides grants to qualifying airports for improvement projects that enhance airport safety, capacity, security and environmental concerns. iFerret™ had recently received FAA approval3, which is another significant development because airports that purchase FOD Detection Systems assessed by the FAA to be compliant with requirements are eligible for AIP grants. This Waiver ensures conformance with the Buy American Preferences—another requirement for AIP grants. Stratech Executive Chairman, Dr David K.M. Chew, said, “The Buy American Waiver allows iFerret™ a good opportunity to establish itself in the vast U.S. market. This is another important milestone following the recent FAA accreditation.”
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1
http://www.faa.gov/airports/aip/buy_american/
2
http://www.faa.gov/airports/aip/overview/ On this webpage explaining the AIP, it says, “For large and medium primary hub airports, the grant covers 75 percent of eligible costs… For small primary, reliever, and general aviation airports, the grant covers 95 percent of eligible costs.” It also mentioned that the grant is provided to “publicuse airports that are included in the National Plan of Integrated Airport Systems (NPIAS)”, which “identifies nearly 3,400 existing and proposed airports”. 3
http://www.stratechsystems.com/news/p_news131.html
stratech systems limited About Stratech Systems Limited (“Stratech�) Stratech Systems Limited ("Stratech") was listed on the mainboard of the Singapore Exchange in 2000. It is principally engaged in the design, development, integration, implementation, maintenance and project management of information technology and advanced technology systems. The Group delivers large-scale complex, real-time, mission-critical systems in the areas of intelligent Vision, intelligent Transport Systems and e-Systems for governments and businesses. Founded in 1989, the Group has established an impressive track record serving industries such as aerospace and defence, financial services, government, healthcare, homeland security and transportation (air, sea and land). The Group develops and implements advanced technological solutions that achieve significant business transformation and competitive advantage for its clients. For more information, please visit www.stratechsystems.com.
Press Contacts Stratech Systems Limited Mr Melvin Lin Tel: 6799-6650 Fax: 6323-2177 Email: Melvin_JW_Lin@stratechsystems.com
stratech systems limited MEDIA RELEASE For immediate release Stratech’s iFerret™ Granted Buy American Waiver Singapore, 7 May 2012 – Singapore Exchange Mainboard-listed Stratech Systems today announces that its iFerret™ intelligent Airfield/Runway Surveillance and FOD (Foreign Object & Debris) Detection System has been granted a Buy American Waiver by the FAA (Federal Aviation Administration). The Buy American Preferences regulations require purchases in AIP (Airport Improvement Program) funded projects to be produced in the U.S. The FAA however has the authority to waive the Buy American Preferences if certain conditions are met. With the Waiver, iFerret™ is now officially on the FAA’s Buy American Conformance List1. As stated by the FAA, this is a list of equipment that is frequently used on AIP funded projects that meets the Buy American requirements or has been issued a Nationwide Waiver. The Nationwide Waiver will allow iFerret™ to be used on AIP funded projects without having to receive separate waivers for each project. This enables projects to start quickly, while still ensuring the funds used for airport projects are being directed to manufacturers that meet the Buy American requirements. The AIP2 provides grants to qualifying airports for improvement projects that enhance airport safety, capacity, security and environmental concerns. iFerret™ had recently received FAA approval3, which is another significant development because airports that purchase FOD Detection Systems assessed by the FAA to be compliant with requirements are eligible for AIP grants. This Waiver ensures conformance with the Buy American Preferences—another requirement for AIP grants. Stratech Executive Chairman, Dr David K.M. Chew, said, “The Buy American Waiver allows iFerret™ a good opportunity to establish itself in the vast U.S. market. This is another important milestone following the recent FAA accreditation.”
###
1
http://www.faa.gov/airports/aip/buy_american/
2
http://www.faa.gov/airports/aip/overview/ On this webpage explaining the AIP, it says, “For large and medium primary hub airports, the grant covers 75 percent of eligible costs… For small primary, reliever, and general aviation airports, the grant covers 95 percent of eligible costs.” It also mentioned that the grant is provided to “publicuse airports that are included in the National Plan of Integrated Airport Systems (NPIAS)”, which “identifies nearly 3,400 existing and proposed airports”. 3
http://www.stratechsystems.com/news/p_news131.html
stratech systems limited About Stratech Systems Limited (“Stratech�) Stratech Systems Limited ("Stratech") was listed on the mainboard of the Singapore Exchange in 2000. It is principally engaged in the design, development, integration, implementation, maintenance and project management of information technology and advanced technology systems. The Group delivers large-scale complex, real-time, mission-critical systems in the areas of intelligent Vision, intelligent Transport Systems and e-Systems for governments and businesses. Founded in 1989, the Group has established an impressive track record serving industries such as aerospace and defence, financial services, government, healthcare, homeland security and transportation (air, sea and land). The Group develops and implements advanced technological solutions that achieve significant business transformation and competitive advantage for its clients. For more information, please visit www.stratechsystems.com.
Press Contacts Stratech Systems Limited Mr Melvin Lin Tel: 6799-6650 Fax: 6323-2177 Email: Melvin_JW_Lin@stratechsystems.com