B/E Aerospace Announces Program Awards Valued at up to $145 Million; Strong First Quarter Orders Further Bolster Record Year-End Backlog.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 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 its selection by a number of Asian, European and other major international airlines to provide a wide range of products, including B/E's MiniPod(TM) business class lie-flat seating products, Spectrum(TM) coach class seating products and a broad array of B/E's 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 for their existing and new international fleets. The awards announced today come on the heels of B/E's record year-end backlog of over $700 million. The total value of the program awards announced today are expected to aggregate up to $145 million, including in excess of $100 million in firm orders. China Eastern Airlines China Eastern Airlines Corporation Limited (Simplified Chinese: 中国东方航空股份有限公司) (SSE: B>600115 has selected B/E to manufacture and deliver a version of B/E's MiniPod business class seats as well as a full complement of B/E food and beverage preparation and storage equipment for the airline's new fleet of Airbus A330 aircraft. China Eastern also selected Endura(TM), B/E's state-of-the-art beverage making system and winner of the prestigious red dot design award, along with B/E's line of steam and convection ovens, bun warmers, water boilers and refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. equipment. Turkish Airways and Air Asia have selected versions of B/E's Spectrum coach class seats to outfit their new fleets of Boeing and Airbus narrow body aircraft. Turkish Airways, along with several other international carriers, have also selected B/E's food and beverage preparation and storage equipment for their Airbus and Boeing fleets. Finally, B/E has been selected by three major international airlines to manufacture and deliver versions of its MiniPod business class seats, in one case for both its existing and new-buy fleet of wide body aircraft, and in two cases, their fleets of new-buy wide body aircraft. Although a very small portion of the orders announced today may be delivered before the end of 2005, the vast majority of these programs begin scheduled deliveries in 2006. "Today's announcements further demonstrate B/E's growing leadership position in the aircraft cabin interior products industry. Demand for our MiniPod business class seating products, Spectrum coach class seating platform and our food and beverage preparation and storage equipment continues to thrive in the currently robust international markets," stated Robert Khoury, B/E President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Importantly, the quality of our backlog has been improving in tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem with our backlog expansion, due to strong orders for premium class products for wide body airliners, particularly in the rapidly expanding Asia-Pacific and Middle East markets." Mr. Khoury added, "Request for quotation A Request for Quotation (referred to as RFQ) is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products and/or services. An RFQ typically involves more than the price per item. activity remains very strong. Given current market conditions, we remain confident in our ability to generate double-digit backlog growth during 2005." 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 involve risks and uncertainties. B/E's actual experience may differ materially from that anticipated in such statements. Factors that might cause such a difference include those discussed in B/E's filings with the Securities and Exchange Commission, including but not limited to its most recent 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. , 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. and Form 10-Q Form 10-Q See 10-Q. . For more information, see the section entitled "Forward-Looking Statements" contained in B/E's Form 10-K and in other filings. 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 designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E manufactured products include 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 about 60 percent of sales. B/E sells its products through its own global direct sales organization. For more information, visit B/E's website at www.beaerospace.com. |
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