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Message: Global ePoint`s Aviation Division Opens Tulsa Facility

Global ePoint`s Aviation Division Opens Tulsa Facility

posted on Oct 24, 2005 06:44AM
Global ePoint`s Aviation Division Opens Tulsa Facility; Expands Southern California Location; AirWorks Expects Record Q4 Revenue

CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Oct. 24, 2005--Global ePoint, Inc. (NASDAQ: GEPT), a leading manufacturer of security technologies for the aviation, law enforcement, industrial and commercial markets, today announced that its Aviation Division has expanded operations into an 80,000 square foot aircraft modifcation center in Tulsa, Oklahoma. AirWorks selected this location as a completion and modification center in support of a 26 aircraft purchase by Synergy Aerospace. AirWorks will provide complete turnkey services from conversion to delivery of aircraft for WayraPeru, VIPS of Equador, OceanAir of Brazil and Avianca Airlines.

``The ability to utilize Tulsa for this major project provides us with a springboard from which to develop additional opportunities in a rapidly expanding $12 billion market for aircraft modifications,`` commented Ricky Frick, President of AirWorks. ``But even without these additional opportunities, AirWorks expects to attain record revenues in 2005`s fourth quarter,`` added Frick.

The modification program will consist of total cabin refurbishment, certification of new interior configurations, exterior paint, In Seat Power modifications, and the newly released AirWorks In-Flight Entertainment System.

``Though we have a long history of providing our customers with complete turnkey solutions around the world, the addition of a dedicated maintenance facility allows us to perform even more detailed and complex modifications,`` added Frick. ``By increasing our modification capabilities, we supplement our Surveillance Products, Electronic Flight Bag, In Flight Entertainment, and Installation kit businesses.``

Recent estimates of the aircraft Maintenance, Repair and Overhaul (MRO) industry show explosive growth in Latin America, with a projected market growth of $1.7 billion annually. ``With AirWorks providing services to 4 different Latin American Airlines from this strategic Tulsa location, we`re very well positioned to continue our growth with Latin American customers.`` During 2006 AirWorks will continue to perform on already backlogged work orders, and will also evaluate the expansion of the Tulsa facility to add more capabilities and square footage.

In addition to the Tulsa facility, AirWorks is strengthening its engineering, certification and manufacturing capabilities as part of a 38,000 square foot relocation of its City of Industry operations to Brea, California. ``With our current backlog and the expansion of our service offerings, the Brea location will provide the necessary facility, personnel, equipment, and repair capabilities to meet our backlog and ensure that we are positioned for new FAA mandates, foreign regulatory mandates, and the on-going need to meet the airline community`s demand for our turnkey solutions,`` said Frick. ``These additional capabilities strongly position AirWorks to continue gaining market share in the aircraft security and service sector, which continues to grow and is estimated by industry analysts to reach approximately $28 billion in 2006.``

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