B/E Aerospace Selected for Programs Valued at Approximately $100 Million.Business, Travel & Lifestyle Editors WELLINGTON, Fla.--(BUSINESS WIRE)--July 11, 2001 B/E Aerospace, Inc. (Nasdaq:BEAV BEAV Binary Editor and Viewer ) today announced that a major international airline has selected B/E to provide aircraft passenger seats under a program that is expected to generate revenues of approximately $55 million for the company. Separately, B/E announced orders from several other airlines valued at approximately $25 million, and a major new product program with one of the world's largest aircraft manufacturers which is expected to generate revenues of at least $20 million. THE NEXT-GENERATION SUPPLIER OF BUSINESS CLASS SEATING A major international carrier has selected B/E to supply the next generation of lie-flat business class seats for its long-haul wide-body aircraft fleet. The decision is part of the airline's plans for a major upgrade of cabin amenities in international business class. In the first stage of the wide-body fleet upgrade, the carrier will retrofit ret·ro·fit v. ret·ro·fit·ted or ret·ro·fit, ret·ro·fit·ting, ret·ro·fits v.tr. 1. To provide (a jet, automobile, computer, or factory, for example) with parts, devices, or equipment not in a number of its wide-body aircraft with B/E's electric lie-flat sleeper Sleeper Stock in which there is little investor interest but that has significant potential to gain in price once its attractions are recognized. Antithesis of high flyer. seat. Subsequently, the airline will feature lie-flat business class seating on its long-haul international routes. In total, the lie-flat business class program is expected to provide B/E with sales of approximately $55 million. Deliveries are scheduled to commence in mid-2002. "We are very pleased to be chosen by this important customer to launch upgraded service in international business class," said Mr. Robert J. Khoury, President and Chief Executive Officer of B/E Aerospace. "The award we announce today is another indication of the intensity with which international carriers are competing for lucrative premium class passengers. Most of the world's major international airlines are planning or executing upgrades of business class seating and other cabin amenities. Driven by airline marketing and pricing strategies There are many ways in which the price of a product can be determined. The following are the foremost strategies that businesses are likely to use. Competition-based pricing Setting the price based upon prices of the similar competitor products. , this trend is stimulating demand for premium class seating products." ADDITIONAL ORDERS TOTAL $25 MILLION Separately, B/E today announced that three other major international airlines have also selected B/E's passenger seating products for a variety of new Airbus and Boeing aircraft. These and other recent airline orders will provide total revenues of approximately $25 million to B/E. Product deliveries are scheduled to begin in 2002. $20 MILLION NEW PRODUCT PROGRAM One of the world's largest aircraft manufacturers has selected B/E to provide 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. 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 for its largest wide-body passenger aircraft. B/E expects the program to provide at least $20 million in revenues over the next several years, based on existing orders for this particular aircraft model. Additional revenues are expected from future aircraft orders and retrofit business. Deliveries of the new refrigeration system are scheduled to begin this year. The new system, designed and developed by B/E, provides airlines with important flexibility and efficiency advantages: -- Adjacent carts can be chilled to different temperatures, permitting separate settings for food and beverages and ensuring compliance with the latest temperature control regulations. -- The new system removes and dissipates heat more efficiently than existing systems, because the chillers can be remotely located in an area separate from the galley. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve risks and uncertainties, and 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. and 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. . For more information, see the section entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: "Forward-Looking Statements" contained in B/E's Form 10-K and in other filings. B/E Aerospace, Inc. is 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, serving virtually all the world's airlines and aircraft manufacturers. B/E designs, develops, manufactures, sells and services a broad line of passenger cabin interior products for both commercial and business/VIP aircraft and provides interior design, reconfiguration and conversion services to its customers throughout the world. With annual revenues exceeding $700 million, the company employs more than 4,000 people worldwide. For more information, visit B/E's web site at www.beaerospace.com. |
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