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|Standex International Corporation and The Boeing Company Enter Into Long-Term Contract|
| SALEM, NH, August 6, 1998 . . .
Standex International Corporation (NYSE:SXI)
(NYSE:SXI) announced today that its Spincraft Division has entered into a long-term
contract with The Boeing Company (NYSE:BA) of Huntington Beach, California, for the
production of 5-meter fuel tank domes. The value of the contract is estimated at $147
million including options. |
These domes are a major component of the fuel tank system in the Boeing Delta IV. The Delta IV family of launch vehicles is the Boeing Evolved Expendable Launch Vehicles entry for a multi-year U. S. Air Force program aimed at reducing space launch costs. The launch vehicles will be used to launch a full spectrum of government and commercial satellites.
The Spincraft Division of Standex is a world leader in the custom production of high quality, one-piece domes for aerospace applications as well as a contract manufacturer involving metal forming, spinning, fabricating, welding, and machining for industrial, commercial, military and nuclear applications. This contract expands Spincraft's existing backlog of orders from The Boeing Company for other size fuel tank domes.
Edward J. Trainor, President and CEO of Standex International Corporation said, "This contract with Boeing has a total estimated value of $147 million if all of the purchase options are exercised. Spincraft has been developing the technology required for this order to take advantage of growth oriented opportunities in accordance with Standex's previously announced plan to focus on growth oriented product lines and businesses."1
Standex International Corporation, with sales for the fiscal year ended June 30, 1997 of $565 million and operations in the United States, Western Europe, Canada, Australia, Singapore and Mexico, is a multi-industry manufacturer in three broad business segments: Food Service, Industrial Products and Consumer Product.