Standard Aero Awarded Multi-Million Dollar Contract for U.S. Navy T56 Engine Maintenance.

Business Editors/Government/Aerospace Writers

SAN ANTONIO--(BUSINESS WIRE)--Jan. 9, 2004

Standard Aero has been awarded a five-year contract with a total contract ceiling of $423.7 million to provide Depot Level Repairs for the Navy's T56 Series III engine modules. The contract is structured as an estimated $84.7 million indefinite delivery/indefinite quantity one-year contract, with four renewable one-year options. The T56 Series III engine powers the Navy's fleet of P-3 Orion, C-130 Hercules, E-2 Hawkeye and C-2 Greyhound aircraft. Derivatives of this engine are also used on U.S. Navy frigates. Standard Aero has over 40 years of experience in maintaining the Rolls-Royce Allison T56/501 family of engines and will draw upon this experience to provide superior customer service to the U.S. Navy.

"Standard Aero is very pleased to be given the privilege of supporting the needs of the U.S. Navy," said Lee Beaumont, president of Standard Aero's Government Services Division. "We applaud the Navy's focus on quality, delivery speed and cost in awarding this contract, which ultimately benefits both the Navy and the American taxpayer. We see the Navy's criteria as testament to their focus on affordable readiness," he added.

Over the past several years, a dedicated team of Standard Aero engineering, customer service and operations personnel has visited the majority of the Navy's Aircraft Intermediate Maintenance Departments (AIMDs) in order to better understand and address the unique needs of the customer. The contract was awarded on a best-value basis with technical, past performance, experience and price as the evaluation factors.

"We are confident that our proven maintenance practices coupled with state-of-the-art MRO technologies and facilities will ensure the Navy is provided with reliable engines capable of effective performance in all environments the aircraft are flown in," said Jim Henry, vice president of engineering for Standard Aero Government Services Division. The company has fully redesigned facilities utilizing lean and cellular operations which yield significant improvements in throughput, turn-time, cost reduction and quality control.

Standard Aero, a member of Dunlop Standard Aerospace Group, is one of the world's largest independent small gas turbine engine, accessory repair and overhaul companies. Standard Aero performs repair and overhaul on Pratt & Whitney, Rolls-Royce, Honeywell and General Electric engines used in regional airlines, business aviation, military and government aircraft. Standard Aero applies specialized business process redesign concepts to both its operations and those of its customers, providing the tools and training to drive profitable growth and improved business performance.