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.
Source: B/E Aerospace Inc.
Date: Jan 9, 2014