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05/21/07 Conax
Florida Corporation
Conax Florida
Corporation specializes in the design and manufacturing of
electro-explosively actuated devices, gas storage and release systems for
military underwater and aerospace applications. It is a high-tech business
with extensive in-house design and manufacturing capabilities to satisfy
customer requirements, which consist of government service contracts.
Conax Florida is a
division of Cobham plc, an international company headquartered in the U.K
that engages in the development, delivery, and support of advanced
aerospace and defense systems in the air, on land, at sea and in space.
Cobham plc has been actively acquiring related companies as part of its
overall corporate strategy to consolidate operations and increase
stockholder value.
Conax currently employs
180 employees in its St. Petersburg locations and was recently approved by Enterprise Florida for State’s Qualified Target Industry (QTI) program for its Aerospace Acquisition
and Consolidation project. This project is expected to create additional
high-wage jobs in the Tyrone area and provide an additional investment in
the area through an estimated $2.5 million of capital invested in
manufacturing machinery and additional equipment required to maintain
expansion goals.
Conax’s revenue for
2006 was $81 million and projected revenues for 2007 are anticipated to
reach $90 million.
This week, St.
Petersburg City Council members made a business visit to the Conax Florida
facility. The visit allowed council members to learn about the product line
and Conax’s innovations and testing practices of its life-saving devices
that greatly increase the survival rate of in-action military personnel.
To learn more about this
high-tech industry service provider and employment opportunities, please
visit Conax Florida
Corporation. To learn more about its parent company’s corporate
strategy and business acquisitions, please visit Cobham plc.
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