B/E Aerospace Launches Industry’s Lightest Weight Main Cabin Seating Platform; Wins Launch Awards from Nine Airlines & Leas...
March 29 2010 - 6:00AM
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 its new patented Pinnacle™ main cabin seating platform, the
industry’s lightest full-featured seat, has been selected by nine
airlines and leasing companies. These launch awards are initially
valued in excess of $250 million, and are for economy class
programs in new-buy Boeing B737, Airbus A320, and Boeing B787
aircraft. Deliveries are expected to begin during the latter part
of 2010.
B/E Aerospace's Pinnacle seat platform utilizes advanced
proprietary technologies that significantly reduce cost of
ownership, simplify maintenance and increase overall passenger
living space. The cost of ownership savings is a direct result of a
15 percent weight savings over the lightest seat on the market
today, achieved through increased use of composites, an integrated
lightweight comfort suspension system and a new design methodology
that reduces parts by more than 25 percent. Pinnacle is designed
for both narrow and wide-body aircraft, and can accommodate a
variety of comfort features and options.
"We are gratified with the overwhelming response that we have
received for the new Pinnacle seating platform,” said Amin J.
Khoury, Chairman and Chief Executive Officer of B/E Aerospace. “The
wide variety of launch customers and aircraft types validates our
design concept and demonstrates the importance of product
innovation and weight reduction for the airlines. In addition to
the launch awards, a number of our customers have expressed an
interest in our Pinnacle seating platform across all narrow and
wide-body aircraft types for both their new-buy and existing
fleets. Airlines want to reduce seat weight without sacrificing
comfort and over time, we believe Pinnacle has the potential to
become the new industry standard for main cabin seating.”
“These awards strengthen our confidence of a recovery in orders
in 2010 and a book-to-bill ratio in excess of one to one for the
full year 2010. We believe the expected expansion of our backlog in
2010 will drive a significant increase in revenues, earnings and
cash flows beginning in 2011,” concluded Mr. Khoury.
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, 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 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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