B/E Aerospace Wins Super First Class Program Award from Major Global Airline Initially Valued in Excess of $100 Million
February 02 2010 - 2:00AM
Business Wire
B/E Aerospace (Nasdaq: BEAV), the world's leading manufacturer
of aircraft cabin interior products and the world’s leading
distributor of aerospace fasteners and consumables, today announced
that it has been selected by a major global airline to outfit one
of its new wide-body aircraft types and to retrofit certain of its
existing international wide-body aircraft with B/E Aerospace Super
First Class suites. This award is initially valued in excess of
$100 million. Deliveries under the retrofit portion of the program
represent in excess of 50 percent of the value of the initial
program and are expected to commence early in 2011.
B/E Aerospace’s Super First Class private suites provide first
class international passengers with luxurious amenities, comfort
and personal space including a fully flat bed, highly customizable
levels of privacy, an ergonomically contoured seat backrest system,
custom lighting features and enhanced interactive in-flight
entertainment.
"We are honored to have been selected by one of the world’s
leading international airlines. Our Super First Class products
provide international passengers with the ultimate in luxurious
passenger comfort. This award reinforces our market position as the
leading provider of premium class aircraft cabin interior products
and further strengthens our position as the leading provider of
Super First Class suites,” said Amin J. Khoury, Chairman and Chief
Executive Officer of B/E Aerospace, Inc.
Mr. Khoury continued, “As expected, bookings improved during the
fourth quarter of 2009 and represent the first quarterly period
with a book-to-bill ratio in excess of one in over a year.
Importantly, based upon discussions with a number of our major
customers relative to their planned commercial aircraft spares
purchases, our expectation that consumables demand should improve
in 2010 consistent with higher levels of global airline traffic, a
marked pick-up in request for quote activity for retrofit and new
buy program awards, as well as the conversion of a portion of the
supplier furnished equipment programs awards, which we have already
won to purchase orders, we expect a book-to-bill ratio for 2010 in
excess of 1 to 1 which we believe will drive a significant increase
in revenues, earnings and cash flows beginning in 2011.”
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
B/E Aerospace 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 systems,
food and beverage preparation / storage equipment, and water and
vacuum waste systems. The company also provides cabin interior
design, reconfiguration and passenger-to-freighter conversion
services. Products for the existing aircraft fleet - the
aftermarket - generate approximately 50 percent of sales. B/E
Aerospace sells and supports its products through its own global
direct sales and product support organization. For more
information, visit the B/E Aerospace website at
www.beaerospace.com.
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