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Airtrax: Timken Delivers Production Omni-Directional Wheels
07/17/2004
 

Airtrax: Timken Delivers Production Omni-Directional Wheels

HAMMONTON, N.J., Aug 17 - Airtrax, Inc. (OTC Bulletin Board: AITX), a U.S.-based developer of omni-directional technology announced today the company has received the first production wheels manufactured by the Timken Company (TKR) and is expecting further deliveries this week. Airtrax contracts with Timken who has exclusive rights to manufacture its patented omni-directional wheels.

The SIDEWINDER lift truck features omni-directional technology allowing an operator to move the vehicle in any direction. The patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a CRADA agreement.

The SIDEWINDER Omni-Directional Lift Truck travels in any direction by merely pushing the joystick in the direction the operator wants to travel. Besides omni-directional capability, the SIDEWINDER has very few parts making it virtually maintenance free.

"Now that weve received the first commercially produced Airtrax omni-directional wheels for the SIDEWINDER everyone here pretty excited," said Peter Amico, Airtrax president. "This means that the long anticipated SIDEWINDER lift trucks will be available this year!"

Airtrax also uses omni-directional technology with the Phoenix aerial work platform. The Phoenix is the MEC aerial work platform using Airtrax omni-directional technology. It will be distributed through MEC dealers. The Phoenix will also feature wheel assemblies supplied by Timken and is expected to go into production later this year.

"We are thrilled about working with Timken." noted Amico. "They have the manufacturing capability to provide quality production wheels that meet the specifications and tolerances we require, at extremely competitive prices. Our strategic relationship with Timken is just another example of how major industrial companies support Airtrax products and the omni-technology we've developed."

Based in Hammonton, New Jersey, Airtrax designs and manufactures omni-directional vehicles for the military and the private sector. Both the SIDEWINDER(TM) lift truck and the Phoenix aerial work platform are the world's first commercially produced omni-directional vehicles using the Airtrax wheel.

"We are really excited to be working with Airtrax," said Mark Greenawalt, regional manager for Timken. "We believe that this technology can have a significant impact on the material handling industry."

For more information, visit or to receive an interactive CD-ROM about Airtrax, contact the company at

P.O. Box 1237, Hammonton, NJ 08037-1237 USA
, info@airtrax.com, 609-567-7800.

This document contains forward-looking statements that are subject to risks and uncertainties. For such statements Airtrax claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act. The Company intends that such statements about the Company's future expectations including future revenues and earnings and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Readers should refer to the Company reports filed with the Securities and Exchange Commission, which includes its Form 10-KSB for the period ended December 31, 2003 and subsequent filings, for a discussion of risks and uncertainties regarding the Company and its business.

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