stratech systems limited MEDIA RELEASE For immediate release Stratech’s iFerretTM Receives FAA Approval Singapore, 25 April 2012 – Singapore Exchange Mainboard-listed Stratech Systems Limited today announces that the US FAA (Federal Aviation Administration) has published its Performance Assessment Report on the Company’s iFerretTM intelligent Airfield/Runway Surveillance and FOD (Foreign Object & Debris) Detection System. Dated March 2012, the report states that iFerretTM fulfils requirements identified in the FAA Advisory Circular (“AC”) 150-5220-241, Airport Foreign Object Debris (FOD) Detection Equipment. The AC contains the performance specifications for systems and equipment that detect foreign objects in airports and provides guidance and specifications for the procurement of airport FOD detection equipment. Stratech Executive Chairman, Dr David K.M. Chew, explained: “In the aviation industry, FAA accreditation is important. To use an analogy, it is like a pharmaceutical product that has received FDA (Food and Drug Administration) approval, and is now officially licensed for sale.” The report’s publication is significant because compliance with the AC is mandatory for US airports acquiring FOD detection equipment through the Airport Improvement Program (AIP)2 or the Passenger Facility Charge (PFC) Program. The AIP provides grants to qualifying airports for improvement projects that enhance airport safety, capacity, security, and environmental concerns. The latter allows the collection of PFC fees, commonly known as airport tax, to fund approved projects. Airports are now able to use these funds to offset the cost of installing iFerret™. Previously, there had been no technology, financing or regulations for automated FOD detection, and airports relied on the FAA or ICAO (International Civil Aviation Organization) mandated daily manual sweeps, which are inadequate and inefficient. Dr Chew pointed out that in recent years the FAA has begun providing directions on specifications and funding of FOD detection systems, and these have subsequently been adopted as the de-facto standards by many airports globally. The accreditation of iFerret™ therefore opens up huge opportunities in this rapidlydeveloping market. FOD refers to articles or wildlife found on runways, taxiways or aprons that could potentially cause injuries or damage to aircraft. An example of a fatal incident involving FOD was the Air France Concorde jet crash in 2000, when 113 lives were lost. FOD also reportedly incurs an estimated US$4 billion in repair and maintenance costs annually, and up to US$13 billion per year 1
http://www.faa.gov/documentLibrary/media/Advisory_Circular/150_5220_24.pdf In the AC, it is stated that “use of this AC… is mandatory for all FOD detection equipment acquired through the Airport Improvement Program (AIP) or the Passenger Facility Charge (PFC) Program.” 2
http://www.faa.gov/airports/aip/overview/ In this website explaining the AIP, it is stated that “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 “public-use airports that are included in the National Plan of Integrated Airport Systems (NPIAS)”, which “identifies nearly 3,400 existing and proposed airports”.
stratech systems limited including associated costs like flight delays and cancellations; lost productivity and revenues; potential liabilities; and damaged reputations. Dr Chew added, “The FAA approval is a major boost towards strengthening iFerretTM’s position in the international aviation market. This market includes a tremendous number of IATA (International Air Transport Association) listed airports globally3, of which the U.S. is the largest single market. The iFerretTM is now well-positioned for an accelerated take-off.� ###
3
http://www.nationsonline.org/oneworld/ From the airports that are listed in this database, it appears that there are more than 9,000 IATA-listed airports in the world.
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