BUFFALO, NY.--- Astronics Corporation announced today that its Aerospace and Electronics segment, Luminescent Systems, Inc. (LSI), won a major contract to provide spare parts for the US Air Force's fleet of F-16 fighters. The contract covers a base period of two years with options for eight additional years. The contract value will be determined by the actual quantity of spare parts purchased. Based on the estimates provided by the US Air Force, the total contract value will be in excess of $30 million if all the options are exercised.
This contract is separate from, but related to, the contract the company won in April of 1998 that also involved parts for F-16 aircraft. That contract, which is still in production, is to equip the fleet with night vision compatible lighting systems. The US fleet includes more than 1,100 F-16 aircraft.
"We have worked hard on the original F-16 NVIS program the last few years, and the program has been very successful. We consider the Air Force's selection of LSI to provide the necessary replacement and spare parts going forward a significant endorsement of our hard work and capabilities. We are very pleased with this award," said Peter J. Gundermann, President of LSI.
Astronics Corporation is a diversified manufacturing company operating in two business segments: Aerospace-Electronics and Printing-Packaging. Its common stock is traded on the Nasdaq National Market System under the symbol ATRO.