WELLINGTON, Fla., Feb 01, 2011 (BUSINESS WIRE) --
B/E Aerospace (Nasdaq:BEAV), the world's leading manufacturer of aircraft cabin interior products and the world's leading distributor of aerospace fasteners and consumables, today announced that it has been selected by a number of China's leading airlines, including Air China, China Southern Airlines, and Hainan Airlines, to equip their commercial airliner fleets with both B/E Aerospace seating products and B/E Aerospace food and beverage preparation and storage equipment. The awards are initially valued at approximately $200 million.
"As evidenced by today's announcement, we have continued to successfully pursue our ambitious objectives in the Chinese aircraft interior equipment market having garnered a majority of all orders over the past several years. These awards have allowed us to further expand our leading aircraft interior products market share position in the Chinese market, the world's fastest growing commercial aircraft market," commented Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve risks and uncertainties. The Company'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 those discussed in the Company's filings with the Securities and Exchange Commission, which include its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. For more information, see the section entitled "Forward-Looking Statements" contained in the Company'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, the Company does not intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
About B/E Aerospace
B/E Aerospace is the world's leading manufacturer of aircraft cabin interior products and the world's leading distributor of aerospace fasteners and consumables. 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 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 approximately 50 percent of sales. B/E Aerospace sells and supports its products through its own global direct sales and product support organization.
B/E Aerospace will provide these three airlines with individually and jointly developed customized private suites for their first class international passengers.
B/E Aerospace was presented the award at the Aircraft Interiors Expo in Hamburg, Germany.
Program Estimated Value in Excess of $800 Million
B/E Aerospace Wins Super First Class Program Award from Major Global Airline Initially Valued in Excess of $100 Million
This award is initially valued in excess of $100 million. Deliveries are expected to commence early in 2011.