B/E Aerospace Selected for Aircraft Cabin Interior Programs Initially Valued at over $200 Million
January 11 2007 - 9:15AM
Business Wire
B/E Aerospace, Inc. (Nasdaq:BEAV), the world�s leading manufacturer
of aircraft cabin interior products and a leading aftermarket
distributor of aerospace fasteners, today announced that it has
recently won nine B787 program awards which together with other
awards from US, Asian and Chinese airlines, are initially valued at
over $200 million. The programs announced today include the
following: Initial Boeing 787 orders from nine major global
airlines for seating and/or a broad array of food and beverage
preparation and storage equipment, and oxygen systems. Retrofit
awards from two North American carriers to begin re-equipping
certain of their aircraft types. Awards from two major Asian
carriers to outfit both their new-buy and existing B777 aircraft.
Awards from four major Chinese airlines to outfit over 130 of their
new-buy Boeing and Airbus narrow-body aircraft with B/E�s first
class and coach class seating, food and beverage preparation and
storage equipment and its oxygen systems. �We are encouraged by the
heightened levels of both retrofit and new-buy RFQ activity, recent
awards from U.S. airlines and the continued strong demand,
primarily from Pacific Rim, Asian and Chinese carriers. That
strength is being fortified by order activity for cabin interior
equipment required to outfit, particularly, the airlines� new-buy
B787 and B777 aircraft. Our business continues to be strong in the
rapidly growing Chinese and Indian markets. For 2006, our bookings
from Chinese airlines were approximately $100 million,� said Amin
Khoury, Chairman and Chief Executive Officer of B/E Aerospace, Inc.
�These awards, and expected follow-on orders should drive our
backlog to new record levels in 2007 as our major airline customers
place orders to fulfill the cabin interior requirements for their
new-buy aircraft. Industry experts are forecasting that over 1,000
wide-body aircraft will be delivered over the 2007 � 2010 period.
These aircraft alone are expected to generate about $3BN of demand
for cabin interior equipment,� continued Mr. Khoury. Mr. Khoury
concluded, �The size and composition of our backlog, expected
follow-on orders, the ramp in wide-body deliveries together with
the operating leverage inherent in our business serve as the
foundation for our expectation for strong revenue growth and margin
expansion through 2009.� This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such forward-looking statements involve risks and uncertainties.
B/E�s actual experience may differ materially from that anticipated
in such statements. Factors that might cause such a difference
include those discussed in B/E�s filings with the Securities and
Exchange Commission, including but not limited to its most recent
proxy statement, Form 10-K and Form 10-Q. For more information, see
the section entitled �Forward-Looking Statements� contained in
B/E�s Form 10-K and in other filings. The forward-looking
statements included in this news release are made only as of the
date of this news release and, except as required by federal
securities laws, we do not have any obligation to publicly update
or revise any forward-looking statements to reflect subsequent
events or circumstances. About B/E Aerospace, Inc. B/E Aerospace,
Inc. is the world's leading manufacturer of aircraft cabin interior
products, and a leading aftermarket distributor of aerospace
fasteners. B/E designs, develops and manufactures a broad range of
products for both commercial aircraft and business jets. B/E
manufactured products include aircraft cabin seating, lighting,
oxygen, and food and beverage preparation and storage equipment.
The company also provides cabin interior design, reconfiguration
and passenger-to-freighter conversion services. Products for the
existing aircraft fleet -- the aftermarket -- generate about 60
percent of sales. B/E sells and supports its products through its
own global direct sales and product support organization. For more
information, visit B/E�s website at www.beaerospace.com.
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