Airbus Selects B/E Aerospace to Supply Passenger and Crew Oxygen Systems for New A350 XWB; Award Initially Valued at More Than $125 Million.WELLINGTON, Fla. -- B/E Aerospace, Inc. (Nasdaq:BEAV BEAV Binary Editor and Viewer ), the world's leading manufacturer of aircraft cabin An aircraft cabin is the section of an aircraft in which passengers travel, often just called the cabin. At cruising altitudes, the surrounding atmosphere is too thin to breathe without an oxygen mask, so cabin pressurization adapts the cabin to atmospheric pressures. interior products and a leading aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. distributor of aerospace fasteners fasteners In construction, connectors between structural members. Bolted connections are used when it is necessary to fasten two elements tightly together, especially to resist shear and bending, as in column and beam connections. , today announced that Airbus has selected B/E Aerospace as its supplier of next generation passenger and crew oxygen systems for the new A350 XWB XWB Extra Wide Body (Airbus) (Xtra Wide-Body) aircraft. The award is initially valued at more than $125 million. The A350 XWB will be equipped with B/E Aerospace's passenger and crew oxygen systems utilizing B/E Aerospace's advanced technologies, including B/E Aerospace's patented Pulse[TM] system as well as chemical oxygen generation in a unique system designed for the A350 XWB. The B/E Aerospace oxygen systems deliver oxygen more efficiently than traditional passenger systems, and reduce overall system weight, fuel burn and maintenance costs. "We are extremely pleased to be named by Airbus as the program supplier of oxygen systems for their new A350 XWB aircraft. Our leading-edge oxygen technology supports our objectives for lower weight and flexible systems to provide the enhanced operating economics required by Airbus and the airlines," said Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace, Inc. "This award along with our oxygen/PSU award for the B787, neither of which are in our current backlog, reinforces our market position as the leading provider of oxygen systems worldwide." This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, B/E Aerospace's financial guidance and industry expectations for the next several years. Such forward-looking statements involve risks and uncertainties. B/E Aerospace'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 changes in market and industry conditions and those discussed in B/E Aerospace's filings with the Securities and Exchange Commission, which include its Proxy Statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. , Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. and Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . For more information, see the section entitled "Forward-Looking Statements" contained in B/E Aerospace'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, we do not intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances. About B/E Aerospace, Inc. B/E Aerospace, Inc. is the world's leading manufacturer of aircraft cabin interior products, and a leading aftermarket distributor of aerospace fasteners. 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 F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. 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 about 60 percent of sales. B/E Aerospace sells and supports its products through its own global direct sales and product support organization. For more information, visit the B/E Aerospace, Inc. website at www.beaerospace.com. |
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