Customers engage Erickson for an estimated $18 million two-year contract in Malaysia
August 17 2016 - 8:00AM
Erickson Incorporated (NASDAQ:EAC), a leading global provider of
aviation services, has been selected to provide timber harvesting
aerial services to Asiatic Heli-Logging SDN BHD and Hormat Jadi SDN
BHD in Sabah, Malaysia, beginning September 2016 for an annual $9
million a year total combined contract value.
Asiatic Heli-Logging is a previous customer and the minimum two
year contract, with a five-year renewal option, will use one S-64E
aircraft. "Asiatic Heli-Logging SDN BHD is very pleased to
work with Erickson again. The longstanding work relationship
between Asiatic and Erickson has always been built on trust and the
continuous commitment towards providing an environmentally
sustainable logging industry in Sabah,” said John Nip, Chief
Executive Officer of Asiatic.
The Hormat Jadi contract is for 18-months, and they are a new
customer that specializes in timber harvesting from land and, to
increase its efficiency, the company is augmenting its capabilities
with aerial services provided by Erickson. Datuk Elbert Lim
Yu Ming, JP and Managing Director, of Hormat Jadi said, “Hormat
Jadi is proud to be certified by the government as an approved
organization for harvesting using Reduced Impact Logging (RIL)
techniques from Sustainable Forest Management License Areas.
This certification is a key differentiator for our company.”
Both customers will work with Erickson to harvest timber in
steep mountainous terrain. The helicopter provides an
environmentally-responsible means to log the timber resources with
no damage to the forest floor. Rob Lewis, Vice President of
Erickson’s Commercial Aviation Services said, “Erickson will fly
for one customer and, while that customer is assembling the harvest
on the ground, the aircraft will leapfrog to the other customer and
then rotate back and forth, providing maximum efficiency and cost
savings for all parties. It’s a win-win for all of us and
allows us to maximize the use of our Aircrane.”
Andrew Mills, Vice President of Global Business Development
said, “We are delighted to return to the Malaysia market, which we
have served for over 20 years. Timber harvesting is the industry
that Erickson was founded on 45 years ago and it remains a core
capability in our portfolio. This joint contract provides a
continued link to the Malaysia market and further expands our focus
on filling the schedule of our Aircrane fleet.”
The Erickson S-64 Aircrane is a premier heavy-lift precision
helicopter that features an aft-facing pilot seat, providing unique
and specialized lift and placement capabilities across a variety of
platforms to include construction, HVAC installations, transmission
powerline installations, and infrastructure projects ranging from
dams to gas lines to waterlines. The heavy lift capability coupled
with the benefits of flying where there is no road, river, rail or
runway access, allows Erickson to provide services that cannot be
performed via traditional lift functions from the ground. Erickson
is the FAA Type Certificate holder and manufacturer of the Aircrane
helicopter.
About Erickson
Erickson is a leading global provider of aviation services and
operates, maintains and manufactures utility aircraft to safely
transport and place people and cargo around the world. The
Company is self-reliant, multifaceted and operates in remote
locations under challenging conditions specializing in Global
Defense and Security, Manufacturing and MRO, and Commercial
Services (comprised of firefighting, HVAC, power line,
construction, timber harvesting, oil and gas and specialty lift).
With roots dating back to 1960, Erickson operates a fleet of
approximately 69 aircraft, is headquartered in Portland, Oregon,
USA, and operates in North America, South America, Europe, the
Middle East, Africa, Asia Pacific, and Australia. For
more information, please visit our new website at
www.ericksoninc.com.
This press release contains certain statements
relating to future results (including, without limitation,
“believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,”
“plan,” “expect,” “predict”), which are forward-looking statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on beliefs
of Company management, as well as assumptions and estimates based
on information currently available to the Company, and are subject
to certain risks and uncertainties that could cause actual results
to differ materially from historical results or those anticipated,
including certain other risks or uncertainties more fully described
under the heading “Risk Factors” in our most recently filed Annual
Report on Form 10-K as well as in the other reports we file with
the SEC from time to time, which are available at the SEC’s web
site located at http://www.sec.gov. You should not place undue
reliance on any forward-looking statements. The Company assumes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date of such statements or to
reflect the occurrence of anticipated or unanticipated events.
Contact
Susan Bladholm- Media requests
(971) 255-5023, sbladholm@ericksoninc.com
Zachary Cotner - Investor Relations
(503) 505-5804, zcotner@ericksoninc.com