Airtrax Updates Status of AWPs, Adds New Company Controller

January 25, 2007 • Airtrax, Inc., Blackwood, N.J., has announced that a production prototype of its King Cobra™ 3368 omni-directional aerial work platform is underway, and final testing will commence in the near term. The King Cobra scissor lift will be available for delivery to fill existing and new orders in the second half of 2007.

 

The company also reports it has received final design approval for its new omni-directional equipment handler, which is based on Airtrax's MP2 platform, from the Israeli Air Force. Customized through extensive input from the IAF, the prototype is currently in production, and Airtrax anticipates shipping the first unit in the second quarter of 2007.

 

Subject to final approval from the IAF, Airtrax may accelerate the manufacturing and delivery of the additional units. The units, for which the IAF has an option to purchase, could be shipped several months sooner than previously announced.

 

In other news, Airtrax has hired G. Theodore “Ted” Harrison as its new controller. Harrison is a former Navy officer and CPA with Arthur Andersen and PricewaterhouseCoopers. He has served as chief financial officer, controller, and treasurer for the past 39 years for companies in Philadelphia, Pa., New York, N.Y., and Washington, D.C., including 14 years with the Philadelphia Phillies.

 

In the upcoming weeks, Airtrax Chief Executive Officer Robert Watson will disclose marketing and distribution plans that will facilitate market penetration of its existing products and create market preparedness for development stage products. “I firmly believe that Airtrax is heading in the right direction and expect [that] tangible examples of this will be seen throughout 2007,” Watson said.