Environmental Tectonics Corp (ETCC)

[AskMuncher]

$ETCC ETC Announces Notice of Annual Meeting of Shareholders
Press Release | 11/09/2021
SOUTHAMPTON, Pa., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today announces that the Annual Meeting of Shareholders (“Annual Meeting”) will be held virtually via Zoom on Thursday, November 18, 2021 at 10:00 a.m. for the following purposes:

I. To elect five (5) Directors to serve on the Board of Directors until ETC’s 2022 Annual Meeting of Shareholders and until their successors are elected.

II. To ratify the appointment of RSM US LLP as the independent registered public accounting firm for ETC for the fiscal year ending February 25, 2022.

III. To transact such other business as may properly come before the meeting and any adjournment of the meeting.

Out of an abundance of caution, ETC has decided to change the meeting from an in-person meeting at our Corporate Headquarters to a virtual meeting via Zoom. If you would like to have the Zoom link emailed for access to the meeting, please email Andrea Morton at [e-mail]. Links will be emailed within twenty-four (24) hours of the meeting time.

The Board of Directors has fixed the close of business on September 20, 2021 as the Record Date for the determination of shareholders entitled to notice of and to vote at the Annual Meeting. Materials for the Annual Meeting were made available on or about October 14, 2021 to registered shareholders as of the Record Date. Such materials are also available within the Investors section of ETC’s website at https://www.etcusa.com/investors/ shareholder-information/annual-meetingshareholders-materials/.

You can vote your shares by emailing your position on each of the above items to [e-mail]. If you are unable to attend the Annual Meeting, it is still important that your shares be represented. Please vote your shares promptly.

About ETC

ETC was incorporated in 1969 in Pennsylvania. For over five decades, we have provided our customers with products, services, and support. Innovation, continuous technological improvement and enhancement, and product quality are core values that are critical to our success. We are a significant supplier and innovator in the following areas: (i) software driven products and services used to create and monitor the physiological effects of flight, including high performance jet tactical flight simulation, fixed and rotary wing upset prevention and recovery and spatial disorientation, and both suborbital and orbital commercial human spaceflight, collectively, Aircrew Training Systems (“ATS”); (ii) altitude (hypobaric) chambers; (iii) hyperbaric chambers for multiple persons (multiplace chambers); (iv) Advanced Disaster Management Simulators (“ADMS”); (v) steam and gas (ethylene oxide) sterilizers; and (vi) environmental testing and simulation systems (“ETSS”).

We operate in two primary business segments, Aerospace Solutions (“Aerospace”) and Commercial/ Industrial Systems (“CIS”). Aerospace encompasses the design, manufacture, and sale of: (i) ATS products; (ii) altitude (hypobaric) chambers; (iii) hyperbaric chambers for multiple persons (multiplace chambers); and (iv) ADMS, as well as integrated logistics support (“ILS”) for customers who purchase these products or similar products manufactured by other parties. These products and services provide customers with an offering of comprehensive solutions for improved readiness and reduced operational costs. Sales of our Aerospace products are made principally to U.S. and foreign government agencies and to civil aviation organizations. CIS encompasses the design, manufacture, and sale of: (i) steam and gas (ethylene oxide) sterilizers; and (ii) ETSS; as well as parts and service support for customers who purchase these products or similar products manufactured by other parties. We sell our sterilizers to medical device manufacturers, pharmaceutical manufacturers, and universities. We sell ETSS primarily to commercial automotive and heating, ventilation, and air conditioning (“HVAC”) manufacturers.

ETC-PZL Aerospace Industries Sp. z o.o. (“ETC-PZL”), our 95%-owned subsidiary in Warsaw, Poland, is currently our only operating subsidiary. ETC-PZL manufactures certain simulators and provides software to support products manufactured domestically within our Aerospace segment.

The majority of our net sales are generated from long-term contracts with U.S. and foreign government agencies (including foreign military sales (“FMS”) contracted through the U.S. Government) for the research, design, development, manufacture, integration, and sustainment of ATS products, including altitude (hypobaric) and multiplace chambers (“Chambers”), and the simulators manufactured and sold through ETC-PZL, collectively, Aeromedical Training Solutions. The Company also enters into long-term contracts with domestic customers for the sale of sterilizers and ETSS. Net sales of ADMS are generally much shorter term in nature and vary between domestic and international customers. We generally provide our products and services under fixed-price contracts.

ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC is headquartered in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

Forward-looking Statements

This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

Contact: Mark Prudenti, CFO
Phone: [phone] x1531
E-mail: [e-mail]