(WELLINGTON, Fla., March 24, 2006) -- B/E Aerospace, Inc. (NASDAQ:BEAV), the world's leading manufacturer of aircraft cabin interior products and a leading aftermarket distributor of aerospace fasteners, today announced that it has won a number of follow-on aftermarket program awards initially valued at approximately $160 million in addition to aftermarket awards from two domestic carriers totaling approximately $40 million.
The follow-on programs have been awarded by a number of Asian, European and other major international airlines for a variety of seating products, a broad array of food and beverage preparation and storage equipment, and engineering integration programs. These programs represent extensions of major programs awarded in 2005 and will be delivered for the most part in 2007 and 2008.
The programs announced today include the following:
-- Seating awards from six international airlines which represent expansions of current programs for different fleets or for different classes of service within the same fleet and include a variety of seating products including super first class suites, MiniPod(TM) business class seats, ICON(TM) premium coach class seating, as well as B/E's Spectrum(TM) coach class seats.
-- In addition, the company has been awarded food and beverage preparation and storage equipment orders from four international airlines as part of their ongoing fleet upgrade planning activities. These awards include a broad array of food and beverage equipment including chilling equipment, beverage makers and steam ovens.
-- Finally, as a follow-on program to a major wide-body upgrade program B/E has won an integration and certification award. B/E's Flight Structures group (FSI), which will be the program integrator, has extensive design and engineering capabilities to address monument structure location, as well as mechanical and electrical system configurations. Full 3-D modeling will play a major role in optimizing aircraft passenger space and comfort.
Separately, B/E received awards from two major U.S. airlines to provide upgrade products and services for certain of their wide-body aircraft. These awards are initially valued at approximately $40 million.
"The awards announced today represent the initial traunch of expected follow-on orders for programs booked during 2005, as well as initial awards from major domestic airlines as they begin to address their retrofit requirements," said Amin Khoury, Chairman and CEO, B/E Aerospace, Inc. "These awards continue to drive our backlog to record levels as our major airline customers expand their retrofit programs to outfit different fleets or classes of service. With the majority of deliveries associated with the orders scheduled for 2007 and 2008, we are increasingly confident in an improved outlook for the next several years," concluded Mr. Khoury.