|
|  |
 |
OSI Appoints Defense Industry Executives as Directors for U.S. Operations
Vancouver, Canada — Offshore Systems International Ltd. (TSX: OSI; OTCBB: OFSYF) (OSI) today announced the appointments of Dr. Marvin R. Sambur, U.S. Air Force assistant secretary for acquisition (retired) and former CEO of ITT Defense, and George A. Sawyer, founding partner of J.F. Lehman & Company and former CEO and vice chairman of Sperry Marine Inc., as directors of the company’s U.S. subsidiary.
OSI has appointed the directors to administer the Special Security Agreement with the U.S. Defense Security Service, which enables the company’s U.S.-based operations to continue to participate in classified contracts.
"The addition of Dr. Sambur and Mr. Sawyer contributes significant U.S. defense industry expertise to the OSI team,” said Ken Kirkpatrick, president and CEO of OSI. “Acting as the oversight body for classified work in the U.S., Dr. Sambur and Mr. Sawyer will directly assist in our goal to increase business with the U.S. military. We welcome their future participation and look forward to benefiting from their impressive experience.”
Dr. Sambur is a member of the U.S. Air Force Scientific Advisory board and the National Academies Air Force Studies board. In early 2005, Dr. Sambur retired from the U.S. Air Force where he acted as assistant secretary for acquisition. As the U.S. Air Force’s acquisition executive, he directed a US$37 billion annual procurement program and was responsible for all Air Force research, development, and acquisition activities. Prior to his appointment as assistant secretary, Dr. Sambur was the president and CEO of ITT Defense, responsible for the management of the company’s US$1.5 billion defense sector operations. He holds a doctorate degree in electrical engineering from Massachusetts Institute of Technology (MIT).
Mr. Sawyer has been a general partner with J.F. Lehman & Co., and its affiliated companies for 15 years. J.F. Lehman & Co. is a partnership focusing on aerospace, marine and defense corporate mergers, acquisitions, and restructurings. In 2004, he assumed new duties as executive advisor to the firm. Mr. Sawyer has held a number of executive positions in the marine and defense industry, including serving as president and CEO of Sperry Marine Inc., which supplies automated marine navigation systems to the naval and commercial maritime market; as president of John J. McMullen Associates, a major international ship design and engineering firm; as president and COO of TRE Corporation, a manufacturer for the commercial aerospace, marine and defense industry; and as executive vice president of General Dynamics Corporation, responsible for its Land Systems and International Activities. From 1981 to 1983 he also served as assistant secretary of the U.S. Navy for Shipbuilding and Logistics. He is the co-inventor of the Consolidated Nuclear Steam Generator III and served in the United States Navy Nuclear Submarine Program.
Mr. Sawyer holds a bachelor of arts degree in international law, magna cum laude and Phi Beta Kappa, from Yale University.
About OSI
Offshore Systems International Ltd. (OSI) is the world’s leading developer and supplier of military navigation systems. Focused on the commercial, defense and homeland security markets, OSI delivers advanced systems and software to address the growing need for enhanced situational awareness in command, control, and intelligence applications. By providing essential tactical and geo-spatial information, the company’s systems and software help decision-makers know the precise location of mission operations across all military forces while integrating information with allies. OSI systems are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange (OSI) and the Over the Counter Bulletin Board (OFSYF). For additional information please visit www.osil.com.
Forward-Looking Statements
This news release contains items that constitute forward-looking statements within the meaning of securities laws including Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. These statements are made under the ‘safe harbor’ provisions of the Private Securities Litigation Reform Act of 1995 and, as such, involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Offshore Systems International can give no assurances that its representations will be achieved or that it will update them at any time in the future.
|
|
 |
 |
Jane Hayward
Investor Relations |
|
|
| Phone: (613) 287-0462 |
 |
|
| Toll-Free: (888) 880-9797 |
|
|
|
| Send an email |
|
|
|
|
|
|
| |
|
|
|
|
