Phoenix Aerospace Inc. Awarded a $970,584 Contract From the U.S. Air Force to Supply Proprietary Engine Trailer Parts; Contract With Options Amounts…

SOURCE: Phoenix International Ventures

CARSON CITY, NV–(Marketwire – August 16, 2010) –  Phoenix International Ventures, Inc. (OTCBB: PIVN) announced today that its wholly owned subsidiary, Phoenix Aerospace Inc., has recently been awarded a $970,584 contract from the U.S. Air Force to supply trailer components kits. Phoenix Aerospace, Inc. was also awarded two unexercised options for a total of $1,941,168 in the same contract.

Commenting on the contract award, Phoenix International Ventures, Inc.’s CEO, Mr. Zahir Teja, said: “We are very pleased to announce this strategic contract, the U.S. Air Force has chosen our own developed components to be installed in important U.S. Air Force equipment. The contract is for 24 kits for $970,584. The U.S. Air Force has options to acquire additional kits for the total amount of $1.94M. We strongly feel that the contract is a tribute to the confidence the U.S. Air Force has in our capabilities.”

About Phoenix International Ventures, Inc.

Phoenix International Ventures, Inc. of Carson City, Nevada, was established in order to acquire and develop business in the defense and aerospace market. The company has acquired 100% of Phoenix Aerospace Inc. which specializes in manufacturing, remanufacturing and upgrading of Ground Support Equipment (GSE) which is primarily used to support military aircraft.

Certain statements in this news release by Phoenix International Ventures, Inc. are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company’s ability to fund ongoing operations and to complete its obligations under the government and/or customer contract and its other ongoing commitments. Future results and trends depend on a variety of factors, including the Company’s successful execution of internal performance plans; product development and performance; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.

Neev Nissenson
Email Contact

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.