B/E Aerospace Announces $200 Million New-Buy and Retrofit Coach Class Awards
January 25 2011 - 12:00PM
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 main cabin seating platforms have been selected by a
number of the world’s leading airlines for their narrow-body
aircraft. The awards, all of which have been won over the last
several months are for seating for both new-buy aircraft and
retrofit seating for existing aircraft. The awards are initially
valued at approximately $200 million.
These coach class seating awards were driven primarily by the
B/E Aerospace new patented Pinnacle™ main cabin seating platform,
the industry’s lightest full-featured seat. Since its launch in
late 2009, the Pinnacle™ seating platform has captured awards to
equip more than 1,000 new or existing aircraft. These awards,
initially valued in excess of $400 million, are for both
narrow-body and wide-body aircraft. A number of the new-buy awards
that were announced today, resulted in the airlines
contemporaneously awarding new coach class seating orders for their
existing aircraft.
"We are very pleased to have been selected by a number of the
world’s leading airlines to provide our coach class seating to
equip their aircraft. B/E Aerospace main cabin seating platforms
offer exceptional living space while providing value with low cost
of ownership, weight savings, and exceptional reliability,”
commented Amin J. Khoury, Chairman and Chief Executive Officer of
B/E Aerospace. “Importantly, as evidenced by these awards,
airlines’ new-buy aircraft decisions are driving contemporaneous
decisions to retrofit the coach class cabins of their existing
aircraft fleets. We expect this trend to continue as the airframe
manufacturers continue to increase their delivery rates for both
narrow and wide-body aircraft over the next several years.”
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements involve risks and uncertainties.
The Company’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 discussed
in the Company’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 the Company’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, the Company does 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.
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