Newsletter #275 (View other news stories)
Obituary: Airtrax founder Peter Amico dies
BLACKWOOD, NJ, United States
Thursday, 31 Aug 2006
 The Airtrax ATX-3000 Sidewinder forklift. |
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Airtrax Inc founder Peter L Amico Sr, 62, of Hammonton, New Jersey, died at home, of natural causes, on August 25.
Amico was the principal advocate for the company’s modular, omni-directional system that allows vehicle wheels to move in lateral, diagonal and rotational directions.
Nicholas E Fenelli, chief operations officer, was named Airtrax acting CEO.
Amico signed the Airtrax financial report for the second quarter, ended June 30, as the firm’s president, CEO, chairman and acting chief financial officer.
Amico was born and raised in New Jersey, served in the US Air Force and had an extensive background in sales and structural steel design. He held sales positions with Firestone Tyre & Rubber Co and Union Steel Products Inc and was president and majority owner of Titan Aviation & Helicopter Services Inc before establishing an Airtrax predecessor company in April 1995.
The US Navy agreed in January 1996 to transfer the omni-directional technology to Airtrax under a co-operative research and development agreement. A separate electric or hydraulic motor independently powers four polyurethane-covered steel wheels on an omni-directional vehicle. An operator directs the vehicle’s motion through a microprocessor-enabled joystick.
In launching the omni-directional technology on the ATX-3000 Sidewinder forklift product line, Amico and Airtrax dealt with multiple start-up business issues. They included operating losses, funding requirements, production development, commercial market acceptance, protecting patent rights, establishing distribution channels and ramifications of FiLCO GmbH’s January insolvency filing (Forkliftaction.com News #272).
Blackwood-based Airtrax’s stock trades publicly as an over-the-counter bulletin board issue.
Amico is survived by his wife, Patricia, five children and 10 grandchildren. A masonic funeral and memorial service were held on August 30 in Vineland, New Jersey.
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