B/E Aerospace's Pinnacle seat platform utilizes advanced proprietary technologies that significantly reduce cost of ownership, simplify maintenance and increase overall passenger living space.
WELLINGTON, Fla.--(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 its new patented Pinnacle™ main cabin seating platform, the industry’s lightest full-featured seat, has been selected by nine airlines and leasing companies. These launch awards are initially valued in excess of $250 million, and are for economy class programs in new-buy Boeing B737, Airbus A320, and Boeing B787 aircraft. Deliveries are expected to begin during the latter part of 2010.
“We are gratified with the overwhelming response that we have received for the new Pinnacle seating platform”
B/E Aerospace's Pinnacle seat platform utilizes advanced proprietary technologies that significantly reduce cost of ownership, simplify maintenance and increase overall passenger living space. The cost of ownership savings is a direct result of a 15 percent weight savings over the lightest seat on the market today, achieved through increased use of composites, an integrated lightweight comfort suspension system and a new design methodology that reduces parts by more than 25 percent. Pinnacle is designed for both narrow and wide-body aircraft, and can accommodate a variety of comfort features and options.
"We are gratified with the overwhelming response that we have received for the new Pinnacle seating platform,” said Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace. “The wide variety of launch customers and aircraft types validates our design concept and demonstrates the importance of product innovation and weight reduction for the airlines. In addition to the launch awards, a number of our customers have expressed an interest in our Pinnacle seating platform across all narrow and wide-body aircraft types for both their new-buy and existing fleets. Airlines want to reduce seat weight without sacrificing comfort and over time, we believe Pinnacle has the potential to become the new industry standard for main cabin seating.”
“These awards strengthen our confidence of a recovery in orders in 2010 and a book-to-bill ratio in excess of one to one for the full year 2010. We believe the expected expansion of our backlog in 2010 will drive a significant increase in revenues, earnings and cash flows beginning in 2011,” concluded Mr. Khoury.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties. B/E Aerospace'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 related to the expected benefits from the HCS acquisition, changes in market and industry conditions and those discussed in B/E Aerospace'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 B/E Aerospace'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, we do 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. For more information, visit the B/E Aerospace website at www.beaerospace.com.
