Initiatives Support Company’s Growth Strategy in Asia-Pacific Region
AstroNova, Inc. (NASDAQ: ALOT) today announced that the Civil Aviation Administration of China (CAAC) has certified the Company’s West Warwick, R.I. repair station to perform maintenance, repair and overhaul (MRO) services on flight deck printers and related components for customers with Chinese-registered aircraft. The repair station also holds certifications from the Federal Aviation Administration and the European Union Aviation Safety Agency.
“Earning the CAAC certification strengthens our role in the global commercial aerospace MRO industry,” said Tom Carll, Vice President and General Manager, AstroNova Aerospace. “The certification further validates the quality and responsiveness of our MRO services, creating new business opportunities for AstroNova in the Asia-Pacific region, forecast to be the world’s largest aviation market in the next 20 years.”
Complementing its CAAC certification, the Company also established a new entity, AstroNova Singapore Pte. Ltd., to facilitate business with customers in China and throughout the Asia-Pacific (APAC) region.
“With demand for aircraft fleets and aftermarket commercial services projected to grow significantly in the coming decades, establishing a business hub in Singapore ensures we are staying close to our APAC customers,” said Greg Woods, AstroNova’s President and Chief Executive Officer. “Expanding our presence in Asia is an integral part of our strategy and consistent with our focus on providing solutions that help customers achieve business success.”
AstroNova Inc. (NASDAQ: ALOT), a global leader in data visualization technologies since 1969, is focused on designing, manufacturing, distributing and servicing a broad range of products that acquire, store, analyze and present data in multiple formats. The Company's Product Identification segment offers a complete line-up of label and direct-to-package printing hardware and supplies, allowing customers to mark, track and enhance their products' appearance. Supported by AstroNova's customer application experts and technology leadership in printing, material science and high-speed data processing, customers benefit from an optimized, "total solution" approach. The Test and Measurement segment includes the AstroNova Aerospace business unit. This segment designs and manufactures flight deck printers, networking hardware and related accessories serving the world's aerospace and defense industries with proven advanced airborne technology solutions for the cockpit, the cabin and so much more. AstroNova is a member of the Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO). Additional information is available by visiting www.astronovainc.com.
Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact but rather reflect our current expectations concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those related to the awarding of the CAAC repair certification and the opening of a new business entity in Singapore, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2021 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.
Senior Vice President
Sharon Merrill Associates