UNION, N.J.--(BUSINESS WIRE)--March 19, 2008--Breeze-Eastern
Corporation (AMEX:BZC) announced today that it has been awarded a $5.2
million contract by Lockheed Martin Corporation (NYSE: LMT) for the
manufacture and support of the High Mobility Artillery Rocket System
(HIMARS) rocket pod loading hoists for the U.S. Army.
"Breeze-Eastern has supported the Multiple Launch Rocket System
(MLRS) program for over 20 years. We are pleased to receive this
HIMARS contract and to continue as a valued member of the Lockheed
Martin team supporting the MLRS program so necessary to the mission
requirements of the U.S. Army," stated Robert L.G. White, President
and CEO of Breeze-Eastern Corporation.
As it can be transported on a C-130 aircraft, HIMARS can be
deployed into areas previously inaccessible to heavier launchers and
provides a force multiplier to the modular brigade. It also
incorporates the self-loading, autonomous features that have made MLRS
the premier rocket artillery system in the world. HIMARS units are
currently deployed by the U.S. Army and U.S. Marine Corps in support
of the Global War on Terrorism.
Breeze-Eastern Corporation (http://www.breeze-eastern.com) is the
world's leading designer and manufacturer of sophisticated lifting
devices for military and civilian aircraft, including rescue hoists,
cargo hooks and winches, and weapons-lifting systems. The company,
formerly known as TransTechnology Corporation, employs approximately
180 people at its facility in Union, New Jersey, and reported net
sales of $73.3 million in the fiscal year ended March 31, 2007.
INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the Securities Act
of 1933, as amended, and the Securities Exchange Act of 1934, as
amended (the "Acts"). Any statements contained herein that are not
statements of historical fact are deemed to be forward-looking
statements.
The forward-looking statements in this press release are based on
current beliefs, estimates and assumptions concerning the operations,
future results, and prospects of the Company. As actual operations and
results may materially differ from those assumed in forward-looking
statements, there is no assurance that forward-looking statements will
prove to be accurate. Forward-looking statements are subject to the
safe harbors created in the Acts.
Any number of factors could affect future operations and results,
including, without limitation, competition from other companies;
changes in applicable laws, rules and regulations affecting the
Company in the locations in which it conducts its business; the
availability of equity and/or debt financing in the amounts and on the
terms necessary to support the Company's future business; interest
rate trends; order flow associated with the delay in enactment of the
2008 Federal Defense budget; determination by the Company to dispose
of or acquire additional assets; general industry and economic
conditions; events impacting the U.S. and world financial markets and
economies; and those specific risks that are discussed in the
Company's previously filed Annual Report on Form 10-K for the fiscal
year ended March 31, 2007, and Quarterly Report on Form 10-Q for the
period ended December 30, 2007.
The Company undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information or
future events.
CONTACT: Breeze-Eastern Corporation
Robert L.G. White, 908-206-3700
President and CEO
SOURCE: Breeze-Eastern Corporation
