Wesco Aircraft Renews Multi-Year Agreement With Lockheed Martin
March 07 2017 - 9:00AM
Wesco Aircraft Holdings, Inc. (NYSE:WAIR), the world’s leading
provider of comprehensive supply chain management services to the
global aerospace industry, today announced the renewal of an
agreement with Lockheed Martin, a global security and aerospace
company.
This new, multi-year agreement renews Wesco’s
existing contract to provide chemical management services to
Lockheed Martin’s Aeronautics, Missile Fire Control, Rotary and
Mission Systems, and Space Systems divisions. In addition, Wesco
will provide chemicals to U.S. military bases globally in support
of the F-35 program.
Under separate long-term agreements with
Lockheed Martin, Wesco also provides integrated supply chain
services for C-class aerospace hardware and electronic products to
multiple sites in North America.
Dave Castagnola, Wesco Aircraft’s president and
chief executive officer, said, “We’re pleased to build on our more
than 25-year relationship with Lockheed Martin. This renewed
agreement reflects the full value proposition that Wesco is able to
deliver to its customers. We believe that no one else in the
industry can offer the broad portfolio of hardware, electronic and
chemical products and sophisticated supply chain solutions to their
customers."
About Wesco Aircraft
Wesco Aircraft is the world’s leading
distributor and provider of comprehensive supply chain management
services to the global aerospace industry, based on annual sales.
The company’s services range from traditional distribution to the
management of supplier relationships, quality assurance, kitting,
just-in-time delivery and point-of-use inventory management. The
company believes it offers one of the world’s broadest portfolios
of aerospace products, including C-class hardware, chemical and
electrical and comprised of more than 565,000 active SKUs.
To learn more about Wesco Aircraft, visit our website at
www.wescoair.com. Follow Wesco Aircraft on LinkedIn at
https://www.linkedin.com/company/wesco-aircraft-corp.
Forward-Looking Statements
This document contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, which relate to future, not past, events and
are subject to risks and uncertainties. The forward-looking
statements, which address the company's expected business and
financial performance and financial condition, among other matters,
contain words such as: “believe,” “provide,” “will” or similar
words, phrases or expressions. These forward-looking
statements are subject to various risks and uncertainties, many of
which are outside the company’s control. Therefore, the reader
should not place undue reliance on such statements.
Forward-looking statements by their nature
address matters that are, to different degrees, uncertain, such as
statements about expected business outcomes and growth. Although
the company believes the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
it can give no assurance that the expectations will be attained or
that any deviation will not be material. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made.
Factors that could cause actual results to
differ materially from these forward-looking statements include,
but are not limited to, the following: general economic and
industry conditions; conditions in the credit markets; changes in
military spending; risks unique to suppliers of equipment and
services to the U.S. government; risks associated with the
company’s long-term, fixed-price agreements that have no guarantee
of future sales volumes; risks associated with the loss of
significant customers, a material reduction in purchase orders by
significant customers or the delay, scaling back or elimination of
significant programs on which the company relies; the company’s
ability to effectively compete in its industry; the company’s
ability to effectively manage its inventory; the company’s
suppliers’ ability to provide it with the products the company
sells in a timely manner, in adequate quantities and/or at a
reasonable cost; the company’s ability to maintain effective
information technology systems; risks associated with the company’s
international operations, including exposure to foreign currency
movements; environmental risks; risks related to the handling,
transportation and storage of chemical products; risks related to
the aerospace industry and the regulation thereof; and other risks
and uncertainties.
The foregoing list of factors is not
exhaustive. The reader should carefully consider the foregoing
factors and the other risks and uncertainties that affect the
company’s business, including those described in Wesco Aircraft’s
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and other documents filed from time to time
with the Securities and Exchange Commission. These or other
uncertainties may cause the company’s actual future results to be
materially different than those expressed in any forward-looking
statements. The company undertakes no obligation to update or
revise any forward-looking statements.
Contact Information:
Jeff Misakian
Vice President, Investor Relations
661-362-6847
Jeff.Misakian@wescoair.com
Wesco Aircraft (NYSE:WAIR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wesco Aircraft (NYSE:WAIR)
Historical Stock Chart
From Jul 2023 to Jul 2024