Cartasite, Inc. Selects Argon ST to Provide Oil and Gas Monitoring
Systems
FAIRFAX, Va.--(BUSINESS WIRE)--Nov. 12, 2008--Argon ST, Inc.
(NASDAQ:STST), a leading developer of command, control,
communications, computers, combat systems, intelligence, surveillance,
and reconnaissance (C5ISR) systems, today announced that its Global
Data Solutions Group has gained acceptance in the oil and gas market
in addition to the commercial air freight shipping container market.
The Company's telematics solutions are comprised of satellite and
cellular radios, wireless sensors, and application services, to
include satellite data services provided under an existing reseller
agreement with ORBCOMM Inc, of Fort Lee, NJ (NASDAQ:ORBC).
"We see the global telematics arena as a natural extension of our
defense focus in sensors, systems, networks, and services," said Dr.
Terry Collins, Chairman and Chief Executive Officer, Argon ST. "We are
in the business of helping to collect, analyze, and deliver
intelligence. Our solutions enable our customers to gather and deliver
data, turn it into useful and timely intelligence, and take deliberate
and decisive actions. The extension of these capabilities into the
commercial market gives Argon a unique differential - we have field
tested integrated, best-of-breed data and technology solutions. Our
technology has been successful in combat environments and is now ready
to assist the commercial market."
Cartasite, Inc. has selected Argon to be its exclusive provider of
its end-to-end solution for its monitoring and asset tracking systems
for the oil and gas industry. Under the agreement, Argon will supply
Cartasite's fieldFlow system consisting of Argon's satellite radio
product the Rapid Deployable Terminal (RDT), wireless sensors, and
application services including ORBCOMM's satellite data services.
"We are very pleased that Cartasite, Inc. has selected Argon to be
its telematics product provider," said Kerry Rowe, Chief Operating
Officer, Argon ST. "The oil and gas market has been a target for us,
the partnership with Cartasite aligns us with an industry leader when
it comes to upstream monitoring systems, and represents another
successful milestone in the expansion of our telematics business. The
fieldFlow product is the first product of many we hope to develop and
deliver to Cartasite."
"The oil and gas industry operates in some of the harshest
conditions on the planet, and remote monitoring systems are critical
to operating efficiency, asset security, and personnel safety," stated
David Armitage, Chief Executive Officer, Cartasite, Inc. "Together,
Cartasite and Argon have developed a solution which promises to
revolutionize field operations and enhance productivity for the global
energy industry. The requirements we put in front of Argon ST
engineers were demanding. They delivered a solution that exceeded our
expectations and we look forward to a long-term, strategic
relationship which will contribute substantive impact to our
customer's bottom line."
The Cartasite agreement is the second contract in 2008 for the
Argon Global Data Solutions Business Area. In June, Argon announced
that it signed an exclusive supply agreement with ULD Logistics, LLC
of Delta, OH, to provide telematics products and services to the
commercial air freight shipping container market.
About Argon ST, Inc.
Argon ST, Inc. designs, develops, and produces systems and sensors
for the Command, Control, Communications, Computers, Combat Systems,
Intelligence, Surveillance, and Reconnaissance (C5ISR) markets
including SIGINT (Signals Intelligence), ESM (Electronic Support
Measures), EW (Electronic Warfare), IO (Information Operations),
imaging, and acoustic systems serving domestic and international
markets.
Forward-Looking Statements
Statements in this press release which are not historical facts
are forward-looking statements under the provision of the Private
Securities Litigation Reform Act of 1995. These statements may contain
words such as "expects", "could", "believes", "estimates", "intends",
"may", "envisions", "targets" or other similar words. Forward-looking
statements are not guarantees of future performance and are based upon
numerous assumptions about future conditions that could prove not to
be accurate. Forward-looking statements are subject to numerous risks
and uncertainties, including without limitation the risks and
uncertainties identified in the reports filed by the Company with the
Securities and Exchange Commission (including the Company's Form 10-K
for the fiscal year ended September 30, 2007). Some of these specific
risks, although not all, are: changes in commercial marketplaces and
demands; the availability of both commercial and governmental funding
for the Company's products and services; changes in the U.S. federal
government procurement laws, regulations, policies and budgets; the
number, length and type of contracts and task orders awarded to the
Company by its commercial and governmental customers; difficulties in
developing and producing operationally advanced technology systems;
the timing and customer acceptance of contract deliverables; the
Company's ability to attract and retain qualified personnel; charges
from any future impairment reviews; the future impact of any
acquisitions or divestitures the Company may make; the competitive
environment for information technology products and services; general
economic, business and political conditions; and other factors
affecting the Company's business that are beyond its control. All of
the forward-looking statements should be considered in light of these
factors. Investors should not put undue reliance on any
forward-looking statements. We undertake no obligation to update these
forward-looking statements to reflect new information, future events
or otherwise.
CONTACT: Argon ST, Inc.
Investor Contact:
Aaron Daniels, 703-995-5610
ir@argonst.com
or
Media Contact:
Lori Hughes, 703-995-5610
media@argonst.com
SOURCE: Argon ST, Inc.
