News in Brief

Sept. 22, 2009

Business Buzz

¦ BTC Electronic Components Inc., an authorized, stocking and value-added distributor specializing in high reliability connectors for aerospace, military, industrial and medical applications, announced its AS9100 certification. The certification signifies that BTC meets and exceeds internationally recognized standards for quality, safety and reliability in our products and processes. UL DQS Inc., an independent registrar, granted BTC certification to AS9100 Revision B following a rigorous auditing process. AS9100 includes the entire ISO9001:2000 standard with 80 additional requirements specific to the aerospace industry. This was BTC’s first AS9100 audit and the connector supplier scored 97.6 percent.

¦ Reelcraft Industries Inc. introduced a new compact dual pedestal reel. The latest offering in dual pedestal design from Reelcraft, the Series DP5000 is smaller and more compact than its Series DP7000 counterpart for air/water, oil and grease up to 1/2” I.D. hose. These reels feature the company’s patent-pending, interlocking steel-formed and stamped base design.

¦ Singapore Airport Terminal Services Limited (SATS) announced its plans to launch Coolport @ Changi — Singapore’s first on-airport perishables handling centre — in the first quarter of 2010. Costing approximately S$12 million to build, Coolport @ Changi will be the first dedicated on-airport facility in Singapore for handling terminal and transit perishables cargo within the Free Trade Zone. It will have multi-tiered zones, with different temperatures ranging from -28°C to 18°C, to handle a wide range of commodities.

¦ The International Air Transport Association announced international scheduled traffic results for July showing passenger demand declining 2.9 percent compared to the same month in the previous year while freight demand was down 11.3 percent. The international passenger load factors stood at 80.3 percent. The July passenger demand fall of 2.9 percent was a relative improvement over the 7.2 percent drop in June and the 6.8 percent decline recorded over the first seven months of the year. July capacity was more in line with reduced demand than in previous months and load factors are similar to those recorded in July 2008. These positive developments, however, have come at the expense of yields which continue to fall sharply, according to IATA. The 11.3 percent decline in cargo demand for July was also a relative improvement over the -16.5 percent recorded in June and the -19.3 percent average for the first seven months of the year. Despite this improvement, the July freight load factor of 47.6 percent was lower than the 49 percent recorded in July 2008.

¦ CeoTronics AG Audio Video Data Communication recorded consolidated revenues of €18,815 thousand for fiscal year 2008/2009 (the second-highest figure in the group’s history). This represents a decline of 11.7 percent on the previous year’s record revenues.

¦ AeroVironment Inc. has been granted a patent by the United States Patent and Trademark Office for technology that facilitates the optimal charging, management, control and maintenance of battery packs, chargers and electric vehicles (EVs). Patent No. 7,444,192 builds on AV’s intellectual property portfolio in its Efficient Energy Systems business segment. This segment’s products include PosiCharge™ systems, the fast-charge systems for electric vehicles.

¦ Swissport Cargo Services announced that it’s the first global handling company to provide monthly performance reports to the Cargo 2000 organization. The reports form the first phase of full performance reporting, and relate to messaging performance. Some 56 stations are included and cover all C2K and non C2K airlines that are handled bythe company. Swissport joined Cargo 2000 in 1997. It is now certifying all stations to be Cargo 2000 compliant.

¦ Air Transport Services Group Inc. a diversified family of air cargo related businesses, reported a sharp increase in net income for its second quarter ended June 30, 2009. ATSG earned $8.1 million, or 13 cents per common share, for the quarter ending June 30, 2009, compared with a net loss of $526,000, or one cent per common share, in the second quarter of 2008. On a pre-tax basis, ATSG earned $11.9 million in the second quarter this year, of which the DHL segment provided $5.7 million, and aircraft leasing provided $5.8 million. ATSG’s revenues were $235.1 million for the second quarter of 2009, compared with $394.9 million in the second quarter of 2008. The decrease of $159.8 million, or 40 percent, reflected a reduction in reimbursements for fuel expenses, and a reduced level of services performed for DHL, ATSG’s largest customer, which reduced the scope of its U.S. operations in January 2009.

¦ Task Force Tips announced it will be opening a new world headquarters. The new facility adds 98,000 square feet of manufacturing space and 20,000 square feet of office space to the existing 50,000-square-foot location.

¦ IATA announced international scheduled traffic results for June showing passenger demand declining 7.2 percent compared to the same month in the previous year while freight demand was down 16.5 percent. International passenger load factors stood at 75.3 percent, down from 77.6 percent recorded in June 2008. The 7.2 percent drop in international passenger demand was a slight improvement on the 9.3 percent fall in May. The capacity adjustment of -4.3 percent did not keep pace with the fall in demand leaving average fares and yields under significant pressure. As a result, June revenue on international markets fell by 25 to 30 percent. Cargo demand remained weak at 16.5 percent below June 2008 levels. Notably ,the decline moderated in both premium and economy travel in June. The number of passengers traveling on economy tickets has shown signs of reaching a floor since March, but until June that seemed largely due to business travellers switching from premium to economy seats rather than any underlying stabilisation of demand. In June numbers travelling on economy tickets fell by 5.5 percent compared to a larger 7.6 percent decline in May. The decline in premium travel numbers also moderated, from 23.6 percent in May to 21.3 percent in June.

¦ JBT Corporation reported second quarter 2009 results. Second quarter 2009 revenue of $230.2 million declined 17 percent from second quarter 2008 or 11 percent in constant currencies. Segment operating profit was $22.5 million, down 10 percent from the prior-year quarter. During the quarter, the company incurred approximately $1.3 million in restructuring charges from cost reduction actions taken to respond to the continued economic slowdown. Excluding these charges, segment operating margin improved 130 basis points to 10.3 percent over the same period a year ago. Diluted earnings per share from continuing operations for the second quarter were $0.34, representing a 17 percent decline from $0.41 diluted earnings per share from continuing operations for the prior-year period (calculated on a pro forma basis to include comparable debt and interest expense) and a 28-percent decline from the prior-year second quarter GAAP diluted earnings per share of $0.47. Restructuring charges and negative translation impact from the stronger U.S. dollar accounted for $0.07 of the decline. Cash generated from operating activities totaled $21.8 million for the quarter. Debt, net of cash, was $132.4 million down from $143.1 million in the first quarter 2009.


¦ TLD has announced an agreement with Aero Industrial Sales Company to solely represent, market and sell the TLD ground support equipment on dedicated African countries. Aero industrial Sales Company is located by JFK International Airport and has distributed aircraft spare parts, materials and GSE for the last two decades

¦ Advanced Ground Systems Engineering LLC (AGSE) announced the signing of an agreement to purchase the assets of Eaton Corporation’s ground support equipment product line, which operates under the Stanley Aviation trade name and had sales in the prior 12 months of $3.0 million. AGSE plans to combine the engineering, manufacturing, sales and support of Stanley GSE products with those of their own at their headquarters in Santa Fe Springs, Calif.

¦ Swissport Geneva announced to two recent developments. The Geneva arm of the provider of ground services to the aviation sector has had its operating license extended for an additional seven years to 2016 by airport authority AIG; and Swissport Geneva will also be jointly founding a new company named GVAssistance to offer special services at the airport, initially for a five-year period. Both licenses were secured following open tender invitations, further underlining Swissport’s strong standing at this key airport location.

¦ Air T Inc. announced that its wholly owned subsidiary, Global Ground Support LLC, has been awarded a new contract to supply deicing trucks to the United States Air Force. The contract award was for one year commencing July 14, 2009, with four additional one-year extension options that may be exercised by the United States Air Force. The award includes standard deicer trucks and extended-reach deicer trucks along with shipping and training costs. The contract replaces Global’s previous contract with the United States Air Force, which expired June 4, 2009, under which Global provided 420 deicers over the past 10 years.

¦ Wallenborn Transports S.A. announced it has acquired Haugsted AirCargo Services to strengthen its position in Scandinavia to become a leading supplier of road feeder transportation and warehousing logistics there. Three strategic locations in Copenhagen, Billund and Oslo have been added to its geographical portfolio. The acquisition of the operator in Denmark, is aimed at connecting the Northern European market to the current presence of Wallenborn throughout mainland Europe.

¦ AERO Specialties announced that it has provided a package of ground support equipment to Beijing Business Aviation Center (BBAC), a joint venture involving Jet Aviation, Deer Air and Reach Investment. Located at Beijing’s Capital International Airport (PEK), BBAC provides AOG, ramp, and line services as well as passenger and crew handling. With its leading role in BBAC, Jet Aviation has become the first global business aviation services company to serve the growing business aviation community in China and international operators which regularly fly to and from Beijing. Products AERO Specialties shipped to Beijing include a lavatory cart, a potable water cart, towbars, bag carts, ramp safety equipment and tooling for the Gulfstream, Bombardier, Cessna, Hawker and Dassault Falcon maintenance operation at BBAC.

¦ Wallenborn Transports S.A. announced it has acquired Rutges Cargo B.V. With head office in Amsterdam, The Netherlands. Rutges Cargo, which provides logistics for road transports and warehousing in general, high value and perishable cargo sectors, has a position in Northern Europe including the Benelux and UK.

¦ CeoTronics AG Audio Video Data Communication announced it has been awarded with an order to deliver CT-DECT communication systems and wireless video transmission systems worth approx. 1.7 million Euro to a foreign special forces unit. It has planned to deliver and to invoice the majority of the systems in the fiscal year 2009/2010. The wireless video systems are produced and delivered by the CT-Video GmbH and the CT-DECT communication systems by CeoTronics AG Germany.

People in the News

¦ Swissport International has appointed Stefan Roschi as the new head of its aviation security business. He will assumed his duties Sept. 1. Roschi succeeds Louis Seliner, who will be taking on a new professional challenge. In his new capacity, Roschi will assume responsibility for a Swissport business line that offers airport and airline security services at 30 stations in 12 countries and has further expansions planned.

¦ National Air Transportation Association (NATA) President James K. Coyne announced the new leadership of the association’s Airline Services Council (ASC). Fernando (Fred) DiBenedetto, vice president, business development at Fortbrand Services Inc., concludes his tenure as chairman of the NATA Airline Services Council after three years. Replacing DiBenedetto as the NATA ASC chairman is Jack Evans, chief executive officer of Total Airport Services Inc. (TAS). Evans previously served as the council’s vice chairman prior to taking the chairman’s position.

¦ Marco Gredig has been appointed as head of the sales, marketing and business development unit at Cargologic. He and his team have overall responsibility for customer relations.

¦ The Hammonds Companies announced that Jeff Hammonds has been appointed as general manager for the Hocuston-based company.

¦ Toyota has announced the appointment of Kazue Sasaki to president of Toyota Industrial Equipment Mfg. Inc. (TIEM), the U.S. manufacturing plant for Toyota lift trucks. In addition, he is now president of Toyota Industries North America Inc., a holding company, and a director of the Toyota Material Handling, U.S.A. Inc. (TMHU) board of directors. As president of TIEM, Sasaki is responsible for all aspects of the Columbus, Ind., plant, which manufactures the majority of Toyota lift trucks sold in the United States.

¦ Swissport International has appointed Peter Kohl as the new head of its German cargo organization following Paul Arnold’s decision to leave Swissport to pursue a new professional challenge. Kohl will also be in overall charge of Swissport’s Austria/Hungary cargo region in his new function, which he assumed on Sept. 1. In his new capacity he is responsible for 12 stations and 520 personnel.