ST. LOUIS, Aug. 20 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. (NYSE: ESE) today announced that TekPackaging LLC (Tek) has been awarded a production contract to be the exclusive manufacturer of Thermoscan(R) ear thermometer probe covers for distribution worldwide. Thermoscan is the market leader and healthcare industry standard for electronic thermometers.
The total value of the five-year contract is anticipated to be approximately $40 to $50 million with the initial order received for $11.7 million. Deliveries are scheduled to begin in the second half of fiscal 2010.
Randy Loga, President of Tek, commented, "This win is the largest supply contract in our history. We were able to win this project as a result of our commitment to manufacturing excellence and our ability to deliver high-quality, high-volume solutions on time and on budget. We are extremely pleased to be the sole source provider of this product solution."
Vic Richey, ESCO's Chairman and CEO, commented, "This win further validates our reputation as a best cost producer of highly engineered products, and I'm excited about this opportunity to expand our reach in this industry. We recognize the value of the diversity of our end markets as we continue to recognize major contributions within all of our operating units."
Tek, retained by ESCO subsequent to the fiscal 2008 divestiture of Filtertek Inc., is a leading provider of innovative thermoformed solutions for complex packaging applications.
Statements in this press release regarding the amounts and timing of sales, deliveries and anticipated total contract value are "forward-looking" statements within the meaning of the safe harbor provisions of the federal
|SOURCE ESCO Technologies Inc.|
Copyright©2009 PR Newswire.
All rights reserved