Standex Awarded Contract from Airbus for A320neo Aircraft

Standex International Corporation (NYSE:SXI) today announced that Spincraft , the Company’s engineered products metal fabrication business unit in its Engineering Technologies Group, has received a long-term contract from Airbus to produce single-piece lipskins for the nacelles on the Airbus A320neo, one of the largest-selling commercial aircrafts in the world. The contract, which runs through 2021, represents Spincraft’s second major award for the A320 neo program following last year's announcement of the award for the geared turbo fan engine. Under the terms of the agreement, Spincraft will produce single-piece spun and machined lipskins for 750 A320neo aircraft. The lipskins will be included in the aircraft’s CFM International LEAP-X engine option. Program development of the lip is expected to begin in early 2015, with the initial delivery scheduled for 2016. 1

“This new contract for the A320neo marks our first direct supplier agreement with Airbus,” said Len Paolillo, President of Standex’s Engineering Technologies Group. ”We will be using CNC forming technologies that we have developed and refined over the years, along with investments in other processes to support the production for this product line. This is a significant win for the Engineering Technologies Group in our targeted high-growth aviation market. The A320neo is one of the leading fuel-efficient planes in the industry today, and we have worked closely with Airbus, and will continue to collaborate with them to provide solutions in their efforts to achieve cost and efficiency improvements on their aircraft. 1 ”