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EARL DODGE OSBORN, FOUNDER OF EDO CORPORATION,
INDUCTED INTO LONG ISLAND TECHNOLOGY HALL OF FAME
NEW
YORK - March 2, 2004 - Earl Dodge Osborne (1893-1988), who founded the EDO Corporation
(NYSE:EDO) ) in 1925, will be inducted into the Long Island Technology Hall
of Fame at an Award Ceremony on March 3 in Hauppauge, N.Y.
Osborn will be recognized for the substantial impact on Long Island of his many accomplishments, including the establishment of the EDO Aircraft Company in College Point, N.Y. Today, EDO Corporation stands as one of the oldest aerospace companies in the U.S., and employs 2,700 people, including more than 500 on Long Island.
Earl Dodge Osborn was a member of the prominent Phelps-Dodge family. A statue of his great grandfather still stands proudly near 42nd Street in New York City’s Bryant Park. EDO corporate history relates that Earl’s mother, convinced that his company would fail like many other aircraft companies of the time, did not want the family name associated with a failed enterprise. So Osborn instead used his initials to name the company.
While the insight of Osborn’s mother may have been correct in that few seaplanes were ever produced, EDO was successful with the development of innovative, all-metal floats that allowed planes to take off and land on water. Until then, floats had been made of wood, which were heavy, cumbersome, and deteriorated quickly in water. In a time when there were few landing strips available, EDO’s all-metal floats did much to stimulate the growing field of aviation.
EDO floats included models for many pioneering aviators, such as Leroy Grumman, Charles Lindbergh, Amelia Earhart, James Doolittle and Admiral Richard Byrd. Airplanes equipped with EDO floats set many of the early speed and endurance records. From the Arctic to the Antarctic, EDO floats supported exploration and expanded the use of airplanes to the remotest parts of the world. With the outbreak of World War II, EDO turned its attention to support of the war effort, and has been involved in the defense industry ever since.
EDO engineers have led the development of many transformational technologies, including major breakthroughs in sonar, radar, infrared, global satellite positioning and long-range navigation equipment. They have pioneered water-mine countermeasures, various aircraft-armament technologies, and a wide range of electronic systems for the self-protection of ships, planes, and ground forces.
Perhaps one of the most notable EDO products was the Lunar Excursion Module’s surface-sensing probe, which was the first object to touch the surface of the moon during Neil Armstrong’s historic landing. Years later, Armstrong would go on to become Chairman of the EDO Corporation Board of Directors.
"EDO is proud of its founder, as well as the many dedicated people who have contributed to our success over nearly 80 years," said Chief Operating Officer Frank Otto, who will accept the award on behalf of Earl Dodge Osborn and the employees of EDO Corporation.
EDO Corporation now provides military and commercial products and professional services, with core competencies in a wide range of critical defense areas, including:
EDO (www.edocorp.com) has been a publicly traded company since 1956, and is headquartered in New York City.
Contact:
William A. Walkowiak, CFA
Director of Investor Relations
(212) 716-2038
ir@edocorp.com
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