THE STRATECH GROUP OF COMPANIES (Stratech or the Group) is pleased to announce that it has secured a key contract for its flagship iFerretTM intelligent Vision system, which will pave the way for it to advance further into the US commercial airfield surveillance market. The contract was jointly won with Stratech’s US partner, Organizational Strategies, Inc. (OSI) of McLean, VA. OSI is a US Federally qualified small business that has been working in aviation, aviation engineering and with the FAA for over a decade.
Under the contract (the “Miami contract”), Stratech will install and maintain the iFerretTM Airfield/Runway Surveillance and Foreign Object & Debris (FOD) Detection System at Miami International Airport (MIA), one of the world’s top commercial aviation hubs. The term of the contract is for up to 14 years; an initial 5-year term, with options to renew for 3 additional 3-year periods.
Executive Chairman Dr. David K.M. Chew commented: “This first project for a US commercial airport affirms the industry’s rising recognition of iFerretTM as a superior FOD detection system.
“Increasing concern over aviation safety worldwide has driven commercial airports to look for more efficient and effective FOD detection and surveillance systems. Eventually, such systems will replace the traditional manual inspections of runways, taxiways and even areas where aircraft are parked.
“We therefore see vast opportunities for our proprietary iFerretTM system in the international markets, where we will continue to work with local partners to expand our presence.”
Behind Dr. Chew’s optimism about expanding Stratech’s reach in the US is the funding available for large primary airport hubs to install FOD systems under the Federal Aviation Administration’s (FAA) published Program Guidance Letter.
The FAA-certified iFerret™ system has seen encouraging adoption by the world’s major commercial airline hubs, including Singapore’s Changi International Airport, Dubai International Airport in the United Arab Emirates, and more recently, Hong Kong International Airport.
Subject to accounting treatment, progress of work and other factors, the Group expects the contract to contribute positively to its earnings for the current financial year ending 31 March 2016. However, due to, among others, the nature of the contract, the Group is not able to ascertain the extent of the impact at this stage and will provide updates when practicable. None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the contract.
A B O U T S T R A T E C H
The Stratech Group Limited (the ‘Company”) is a market leader in technology innovation, whose key breakthroughs include intelligent vision systems – highly sophisticated and adaptive technologies that provide precise image-processing solutions for surveillance and security. Building on its long expertise in developing mission-critical e-systems for both government and business clients, it is now making swift inroads into the aerospace sector.
In particular, the iFerret™ airfield/runway surveillance system – which can detect, track and display foreign objects and debris (FOD) in real time – has gained international recognition since it was accredited by the US Federal Aviation Administration in 2012. This accreditation opens up vast opportunities in the global civil aviation market, especially with the heightened focus on airport safety and security. Customers of this include Singapore’s Changi International Airport, Dubai International Airport and Hong Kong International Airport.
The iFerret™ system was also recently selected by one of the world’s top Air Forces for its airbase. The contract included iFerret™’s rapid airfield damage assessment system (RADAS), which can chart damage resulting from enemy attacks. Its passive sensor technology makes it far more suitable than conventional radar-based systems for airbase deployment.
Stratech has also designed and rolled out innovative solutions for a wide array of markets worldwide. Other premier products include the iVACS® Intelligent Vehicle Access Control System, Super Bulls Eye® and the VIPS® Vessel Identification and Positioning System. iVACS® recently clinched a major contract for a Smart City Project in the Middle East.
The Group has restructured and was relisted as The Stratech Group Limited on 6 April 2015. This will enable Stratech to capture the immense opportunities opening up for its flagship products and seek out strategic equity partners for key projects in the line-up. It will further streamline its product groups into distinct operating subsidiaries, so it can accelerate plans to commercialise its technology innovations and expand in its targeted markets.
