B/E Aerospace, Inc. (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 the Company
has extended and expanded an agreement with United Technologies
Corporation (UTC), to provide aerospace fasteners, hardware,
consumables, and logistical services to UTC’s aerospace business units
for their global operations. The agreement with UTC is through December
31, 2022 and is initially valued at approximately $950 million.
B/E Aerospace will supply UTC’s aerospace business units (Goodrich,
Hamilton Sundstrand, Pratt & Whitney and Sikorsky Aircraft), with
aerospace fasteners and hardware as well as a broad range of
consumables. In addition, the Company will provide logistical services
such as just-in-time delivery, bin management services, integrated
supply chain logistics, and airplane-on-the-ground (AOG) support 24
hours a day, 365 days a year. B/E’s value-added services increase
customer productivity, lower total cost of ownership and inventory
investment, and reduce risk with parts delivered directly to the point
of use.
By leveraging its robust information technology, automated retrieval
systems, operational excellence, global footprint, and supply chain
infrastructure, B/E Aerospace consumables management provides a
comprehensive range of aerospace consumables and complex logistical
services to its customers globally from its 50 geographical locations
worldwide.
“We are pleased to announce this enhanced and expanded agreement with
our valued partner, United Technologies. We look forward to further
strengthening our partnership with them. Today’s announcement highlights
our continued focus on having the best and broadest portfolio of
aerospace consumables and logistical services and further solidifies our
position as the market leader,” said Amin J. Khoury, Chairman and Chief
Executive Officer of B/E Aerospace.
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.
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