Delta TechOps Agrees to 10-Year, $1 Billion Deal With Chromalloy for Parts Agreement, MRO Engine Work

"Our MRO business will continue to grow, thanks in large part to our dedicated, highly skilled and flexible employees, as well as our capacity and product offerings," said Charaf. "Reciprocal strategic sourcing is another platform of growth for our successful MRO business, and we will continue to look for ways to add value and grow our business."

Chromalloy Gas Turbine Corporation, Sequa's largest business unit, provides the airline industry with a broad range of aftermarket services and ranks as the leading independent supplier of advanced repairs for jet engine parts. Chromalloy operates around the world and around the clock, providing airlines with timely, cost-effective, and proven repairs for turbine airfoils and other critical engine parts - repairs that extend the life of the parts and hold down airline maintenance costs.

Delta TechOps is the largest airline MRO in North America, earning more than $310 million in revenue in 2006. In addition to providing maintenance and engineering support for Delta's fleet of 440 aircraft, Delta TechOps serves more than 100 aviation and airline customers from around the world, specializing in high-skill work like engines, components, hangar and line maintenance. Delta TechOps employs more than 6,500 maintenance professionals and is one of the most experienced MRO providers in the world with more than seven decades of aviation expertise.

Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actions and decisions of our creditors and other third parties with continuing interests arising in connection with our Chapter 11 proceedings; the cost of aircraft fuel; the impact that our indebtedness will have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; the effects of terrorist attacks; and competitive conditions in the airline industry.