Northvale, NJ – November 12, 2010 – Photonics Products Group, Inc. (OTC Bulletin board: PHPG) was recently approved for Lockheed Martin’s [NYSE: LMT] Missiles and Fire Control Preferred Supplier Program, at its’ MRC Optics facility located in Sarasota, Florida.
The Preferred Supplier Program is a three-level supplier recognition system designed to develop a world-class supply chain. Its purpose is to actively seek to do business with the “Best of the Best”. PPGI’s MRC Optics currently provides aluminum, beryllium, and beryllium alloy optical mirrors to Lockheed Martin Missiles and Fire Control.MRC Optics’ performance and commitment to excellence is what led to entry to the program.
Beryllium and beryllium structures are manufactured at PPGI’s facility in Sarasota, FL. PPGI offers state-of-the-art manufacturing of optical components and sub-assemblies used in a wide variety of applications including thermal imaging, night vision, satellite surveillance systems, reconnaissance and intelligence gathering, fire control/target acquisition and missile systems, as well as large plano optics, beryllium optics, polygon scanners and their refurbishment. All projects are staffed with cross-functional teams that identify and execute the best processing and testing approach for a customer’s specific needs.
“We are pleased to be approved to Lockheed Martin Missiles and Fire Control’s Preferred Supplier Program,” says Joe Rutherford, PPGI’s President and CEO. “One of the keys to our success is to encourage early involvement with our customers to optimize manufacturability while minimizing cost. This helps enormously in meeting demanding cost and delivery targets. Our entire organization is committed to this level of customer satisfaction.”
Photonic Products Group, Inc. develops, manufactures, and markets products and services for use in diverse photonics industry sectors via its portfolio of businesses. INRAD specializes in crystal-based optical components and devices, laser accessories and instruments. Laser Optics specializes in precision custom optical components, assemblies, and optical coatings. MRC Optics’ business specializes in precision diamond turning optics, metal optics, and opto-mechanical and electro-optical assemblies. PPGI’s customers include leading corporations in the Defense and Aerospace, Laser Systems and Process Control and Metrology sectors of the photonics industry, as well as the U.S. Government. Its products are also used by researchers at National Laboratories and Universities worldwide.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as “anticipate” "believe", "expect", “plan”, “should”, “targeting”, "will", or similar words or descriptions. Such forward-looking statements, which refer to our expectations for revenues, new orders, and income, for example, involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward looking statements are, but are not limited to, uncertainties in market demand for the company's products or the products of its customers, future actions by competitors, inability to deliver product on time, inability to implement process improvements in its operations, inability to retain key employees or hire new employees, and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission including the risk factors in our annual report on Form 10-K for the year ended December 31, 2009. The forward looking statements made in this news release are made as of the date hereof and Photonic Products Group, Inc. does not assume any obligation to update publicly any forward looking statement.
