2/10/2010
NEWS BRIEFS
B/E Aerospace Signs Multi-Year Boeing Contract
B/E Aerospace won renewal of a multi-year fasteners and hardware contract with Boeing. This contract was previously held by Honeywell Consumables Solutions which is now a part of B/E Aerospace’s Consumables Management segment.
“We are pleased to continue our support of Boeing and to be a part of their important military programs and platforms,” commented Rick Sharpe, EVP and COO of B/E Aerospace, Consumables Management. “We view this as a strategic win and we look forward to continuing our partnership for a number of years to come.”
In 2008 B/E Aerospace Inc. completed its acquisition of Honeywell’s aerospace fastener distribution business, Honeywell Consumable Solutions, for $1.06 billion, transforming B/E Aerospace into one of the largest distributors of aerospace fasteners in the world.
B/E’s Consumables Management provides logistics services OEMs, airlines, repair shops, flight service centers and distributors, as well as distributing aerospace fasteners.
Consumables Management operates a 355,760 sq ft distribution facility in Miami; a 67,000 sq ft facility in Stratford, CT; a 36,000 sq ft facility in Paramus, NJ; and a 49,000 sq ft facility in Wichita, KS. Consumables Management offers 275,000 parts in 40 locations worldwide.
Sales at Consumables Management dropped 23.5% to $798.1 million on a proforma basis during 2009, “reflect(ing) reduced activity at airline and MRO maintenance facilities, reduced aircraft capacity, a decrease in revenue passenger miles flown, and substantially reduced activity at business jet manufacturers.” Fastener segment operating earnings fell 21% to $170.8 million, excluding AIT costs. ©2010 GlobalFastenerNews.com
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