B/E Aerospace, Inc. (Nasdaq:BEAV), the world's leading manufacturer of aircraft cabin interior products and the world�s leading distributor of aerospace fasteners and consumables, announced today that it has received a supplemental type certificate (STC) from the FAA which authorizes the company to convert Airbus A300-600 passenger aircraft to freighters. The STC was awarded to B/E Aerospace�s Flight Structures unit (FSI). The company previously announced that it had been awarded a contract by China Southern Airlines to convert six of its A300-600 passenger aircraft to freighters. B/E Aerospace expects the six aircraft program for China Southern Airlines to have a value of approximately $45 million. B/E Aerospace has been responsible for the engineering design and STC certification of the Airbus A300-600 passenger-to-freighter conversion and will be responsible for manufacturing the required passenger-to-freighter conversion kits. B/E Aerospace�s MRO partner, Guangzhou Aircraft Maintenance Engineering Company (GAMECO), a Guangzhou-based joint venture of China Southern Airlines and Hutchinson Whampoa (China) Ltd., will provide the touch labor and kit installation. "The A300-600 STC marks a significant milestone in our passenger-to-freighter conversion business. We look forward to working with our launch customer China Southern Airlines," stated Mr. Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace, Inc. �The A300-600 aircraft is an excellent candidate for passenger-to-freighter conversion due to its superior operating economics. According to Air Cargo Management Group, �the medium wide-body freighter segment, (the A300 and the B767), has been the fastest growing segment of the freighter market over the past decade.� The A300-600 takes standard size containers and can carry almost double the LD3 containers that the competing B767 can carry. There are more than 100 A300-600 passenger aircraft in service, most of which are nearing the end of their useful lives as passenger aircraft,� concluded Mr. Khoury. Mr. Dong Su Guang, Vice President of China Southern Airlines Co., Ltd. and Chairman of GAMECO commented, �China Southern Airlines, GAMECO and B/E Aerospace working together have demonstrated a world class capability in achieving this milestone. We look forward to continuing our partnership as we convert our A300-600 passenger aircraft to freighters.� B/E Aerospace currently holds over 200 aircraft modification STC�s pertaining to such applications as interior reconfigurations, crew rest installations and passenger-to-freighter conversions. B/E Aerospace has extensive experience in converting passenger aircraft to freighters having completed 80 passenger-to-freighter conversions on a number of aircraft types including the A300-B4, B747-200 and B767-200 airframe platforms. 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 Aerospace�s actual experience and results may differ materially from the experience and results anticipated in such statements. Factors that might cause such a difference include those related to the expected benefits from the HCS acquisition, changes in market and industry conditions and those discussed in B/E Aerospace�s filings with the Securities and Exchange Commission, which include its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. For more information, see the section entitled �Forward-Looking Statements� contained in B/E Aerospace�s Annual Report on 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 intend 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 the world�s leading distributor of aerospace fasteners and consumables. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace 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 Aerospace sells and supports its products through its own global direct sales and product support organization.
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