Air Industries Group Announces Long-Term Agreement for F-35 Landing Gear Components
July 06 2021 - 8:30AM
Business Wire
Air Industries Group
(NYSE AMEX: AIRI):
Air Industries Group (“Air Industries” or the “Company”), an
integrated manufacturer of precision equipment assemblies and
components for leading aerospace and defense prime contractors, is
pleased to announce that it has received a follow-on Long-Term
Agreement (LTA) to produce landing gear components for the F-35
Joint Strike Fighter Aircraft.
The LTA from our customer estimates purchases of between $12 and
$18 million dollars over the three-year period beginning in 2022
through 2024. Air Industries produces many landing gear components
used on all three variants of the Aircraft.
Mr. Lou Melluzzo, CEO of Air Industries commented: “Air
Industries has produced landing gear components for the F-35 since
the inception of production of the Aircraft. We are very pleased to
be part of this historic program and to continue supporting the war
fighter as production of the Aircraft approaches full-rate.”
ABOUT AIR INDUSTRIES GROUP
Air Industries Group (AIRI) is an integrated manufacturer of
complex machined products including landing gear, flight control,
and jet turbine components for leading aerospace and defense prime
contractors.
FORWARD LOOKING STATEMENTS
Certain matters discussed in this press release are
‘forward-looking statements’ intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. In particular, the Company’s
statements regarding trends in the marketplace, future revenues,
earnings and Adjusted EBITDA, the ability to realize firm backlog
and projected backlog, cost cutting measures, potential future
results and acquisitions, are examples of such forward-looking
statements. The forward-looking statements are subject to numerous
risks and uncertainties, including, but not limited to, the timing
of projects due to variability in size, scope and duration, the
inherent discrepancy in actual results from estimates, projections
and forecasts made by management, regulatory delays, changes in
government funding and budgets, and other factors, including
general economic conditions, not within the Company’s control. The
factors discussed herein and expressed from time to time in the
Company’s filings with the Securities and Exchange Commission could
cause actual results and developments to be materially different
from those expressed in or implied by such statements. The
forward-looking statements are made only as of the date of this
press release and the Company undertakes no obligation to publicly
update such forward-looking statements to reflect subsequent events
or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20210706005090/en/
Air Industries Group Michael Recca - CFO 631.328.7078
ir@airindustriesgroup.com
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