B/E Aerospace Announces Awards Initially Valued at $250 Million
WELLINGTON, Fla.--(BUSINESS WIRE)-- B/E Aerospace, Inc. (NAS: 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 the Company has been awarded four major aircraft cabin interior programs.
The first of these is a lie-flat business class seating program to outfit a major international airline's new-buy Boeing 787 fleet. In addition, B/E Aerospace will provide retrofit LED lighting for this same airline's Boeing 737, 767 and 777 aircraft.
The second is a full cabin interior retrofit program to outfit a major global airline's long haul aircraft with lie-flat business class seating, Pinnacle® main cabin seating, and LED lighting.
The third award includes a business class seating program, a Pinnacle® main cabin seating program and a comprehensive food and beverage preparation and storage equipment program to outfit new-buy wide-body aircraft for a major Chinese airline.
Finally, B/E Aerospace has won a Pinnacle® main cabin seating program and a comprehensive food and beverage preparation and storage equipment program to outfit a Russian airline's new-buy 737 and A320 aircraft. These awards are initially valued at approximately $250 million.
"Today's multiple awards announcement highlights our continued focus on being the most innovative aircraft cabin interior supplier in the industry and further solidifies our position as the market leader for aircraft cabin interiors. These awards underscore our leadership in LED lighting systems, premium class seating and Pinnacle® main cabin seating as well as food and beverage preparation and storage equipment," commented Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace.
"The lighting retrofit awards are significant as we continue to expand all-LED lighting throughout the cabin into the existing worldwide fleet of aircraft and follows our recently announced Boeing 777 retrofit lighting award which was recently announced in conjunction with program awards of approximately $400 million. Today's lighting awards include our first all-LED retrofit awards for the Boeing 737, 757 and 767 as well as additional Boeing 777 aircraft."
"Our premium class seating awards solidify our market leadership position as the leading supplier of full-flat premium class seating designed for exceptional passenger comfort, enhanced living space and luxurious amenities. The Pinnacle® awards further highlight the success of our Pinnacle® main cabin seating. The Pinnacle® seating platform has now captured awards to equip more than 1,800 new or existing aircraft. These awards are valued at approximately $1 billion and are for both narrow-body and wide-body aircraft," concluded Mr. Khoury.
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 (SEC), 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 and rules and regulations of the SEC, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About B/E Aerospace, Inc.
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 systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems. The Company also provides cabin interior reconfiguration, program management and certification services. 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.
Greg Powell, 561-791-5000
Vice President Investor Relations
KEYWORDS: United States North America Florida
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