Initially Valued in Excess of $125 Million; Announces Record Second Quarter Bookings
WELLINGTON, Fla., Jul 12, 2011 (BUSINESS WIRE) -- B/E Aerospace (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 been selected by three major Middle Eastern airlines to outfit their new-buy wide-body aircraft with B/E Aerospace next generation super first class suites. The awards are initially valued in excess of $125 million.
B/E Aerospace will provide these three airlines with individually and jointly developed customized private suites for their first class international passengers. Each of the airlines has chosen luxurious amenities, extraordinary comfort and private personal space designed to maximize the passenger experience.
"International passenger travel to and from the Middle East has been, and is expected to remain, among the fastest growing routes in the world. We are honored to have been selected to partner with these leading international airlines. These awards further solidify our position as the market leader in the Middle East, and further strengthen our position as the global market leader for premium class aircraft cabin interior products," commented Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace.
The company also announced that it has achieved record second quarter bookings of approximately $800 million which were approximately 45 percent greater than the same quarter of the prior year.
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, 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, the Company does not intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
About B/E Aerospace
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, oxygen, and food and beverage preparation and storage equipment. The Company also provides cabin interior design, reconfiguration and passenger-to-freighter conversion services. Products for the existing aircraft fleet - the aftermarket - generate approximately 50 percent of sales. B/E Aerospace sells and supports its products through its own global direct sales and product support organization.
SOURCE: B/E Aerospace
Greg Powell, 561-791-5000
Vice President Investor Relations