East Hills, NY (February 25, 2005) - - Pall Corporation (NYSE: PLL) today announced that the United States Army awarded it a contract for engine air particle separators (EAPS) for CH-47 Chinook helicopters. Pall will provide a minimum of 26 shipsets (one for each of the helicopter's two engines) with an initial obligated value of $5.6 million.
The engine air particle separators, part of the Pall Centrisep® family of air cleaners, are designed to protect helicopter engines from particle erosion by continuously scavenging dust and sand from inlet air. This is an especially critical need in harsh desert environments where sand and other particles can quickly erode the engines of a helicopter, resulting in rapid power loss or failure. The problem of engine sand ingestion is exacerbated when helicopters take off, land or hover. The Pall EAPS effectively preserve the life of the helicopter engine to enable extended missions in desert operations.
"We are rapidly responding to help meet this critical need in outfitting the CH-47 helicopter with the most advanced air filtration technology available. We expect this to be the first in a series of orders," says Jim Western, President of Pall Aerospace.
"There is nothing more gratifying than knowing that by protecting the engine we are also making a contribution in helping secure the safety of our men and women in uniform. We are proud of our participation and the trust that our government has conferred upon us over the years," added Mr. Western.
The CH-47 Chinook has been a mainstay of the U.S. Army's helicopter fleet since its original deployment to Vietnam in the early 1960s through the current war on terrorism. The helicopter is principally used for the movement of troops, artillery, ammunition, fuel, water, barrier materials, supplies and equipment on the battlefield as well as for medical evacuations, fire fighting, parachute drops, disaster relief and search and rescue.
The CH-47 Chinook helicopter employs a wide range of Pall filtration technology throughout for hydraulics, transmissions, engine lubrication, and fuel. Pall Centrisep filters have been an integral part of the helicopter fleet of the U.S. Army as well as those of U.S. allies during Operations Desert Storm and Desert Shield. Pall has been providing filtration technology to the U.S. Military for use on helicopters and other aircraft, ships, and mobile equipment for nearly six decades.
About Pall Corporation Pall Corporation is the global leader in the rapidly growing field of filtration, separation and purification. Pall's business is organized around two broad markets: Life Sciences and Industrial. The Company provides leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceutical, transfusion medicine, semiconductor, water purification, aerospace and broad industrial markets. Total revenues are $1.8 billion. The Company headquarters are in East Hills, New York with extensive operations throughout the world. Visit Pall at www.pall.com.
Forward Looking Statement This release contains "forward-looking statements" is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current Company expectations and are subject to risks and uncertainties which could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to: fluctuations in foreign currency exchange rates; regulatory approval and market acceptance of new technologies; changes in product mix and product pricing and in interest rates and cost of raw materials; the Company's success in enforcing its patents and protecting its proprietary products and manufacturing techniques and its ability to achieve the savings anticipated from its cost reduction initiatives; global and regional economic conditions and legislative, regulatory and political developments; and domestic and international competition in the Company's global markets. Additional information regarding these and other factors is available on the Web at www.pall.com and is included in the Company's reports filed with the U.S. Securities and Exchange Commission. Copies of such reports can be obtained, without charge, at www.sec.gov.
Management uses certain non-GAAP measurements to assess Pall's current and future financial performance. The non-GAAP measurements do not replace the presentation of Pall's GAAP financial results. These measurements provide supplemental information to assist management in analyzing Pall's financial position and results of operations. Pall has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of ongoing operations.