LAS VEGAS, May 08, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Adama Technologies Corp. (OTCPINK:ADAC) Corp. announced today that they are nearing completion of the drag brace, which is a part of the landing gear assembly for the F16 fighter jet. This contract, which has been in contract for approximately 14 months, is scheduled to be completed in 60 days.
Harold Tanner, President of Adama Technologies, commented, “This is great news for the Company, this is a fairly substantial contract and having the job completed will mean a sizeable influx of revenue for the Company that can be put to work as we are continuing to bid additional contracts and expand our client base.”
The Company stated that they began production on this contract in February of 2017 and, because the manufacturing and assembly went so smoothly, they plan to rebid similar projects in the future. Mr. Tanner continued, “Our Company has really worked itself into a niche market where we have truly become experts at production of the entire landing gear assembly and all of the related components. This level of expertise and familiarity, along with the fact that we have been in business for more than 50 years, has really separated us and allows us to have a recognizable name in the defense and aerospace industries. We believe this recognition and awareness will enable us to continue to be awarded these contracts and continue to increase our production contracts, revenue and operations.”
The Company stated that they will continue to keep investors updated through continued press updates as well as through their social media outlets.
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About Adama Technologies Military Defense Operations
Adama Technologies completed the acquisition of Alpine Industries in November of 2016. Alpine Industries is a precision machining and aerospace manufacturing company. Since its inception in 1974, Alpine has manufactured several hundred aerospace landing gear components and other spare parts. Alpine continues to work as a US government contractor and currently holds over 15 US Military contracts with the majority of them with the US Air Force. Presently, Alpine manufactures such items as M1 Mine Clearing Blades, hypo-chlorination units, tow bridles, 60 ton jacks for the C5A, AIM-9 missile body trainers, numerous bolts and screws, drag links for the F-16 fighter planes, and many other landing gear parts. In addition to the US military, Alpine also manufactures parts for several private companies including parts for drilling components used in oil and water wells, roller-coasters, motorcycles, zip line parts, crash pads, and drilling carts.
Contact Information:
Address:
1000 N. Green Valley
Suite 380
Henderson, NV 89074
Phone: (866) 859-8697
Website: www.AdamaTechnologies.com
Disclaimer
This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.