Awards validate the history of success on multiple Boeing aircraft platforms
EAST AURORA, N.Y.--(BUSINESS WIRE)--Aug. 8, 2017-- Astronics Corporation (NASDAQ:ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense and semiconductor industries, announced today that its wholly-owned subsidiary, Astronics PECO, was awarded a contract to provide its next-generation fuel tank access doors (FTAD) for the new family of long-range Boeing 777X aircraft. In addition, Astronics PECO received a follow-on award for its FTAD product for the Boeing 787 Dreamliner.
The new 787 and 777X fuel tank access doors will utilize the latest in fuel tank door structural materials and designs for carbon fiber composite wing technologies. The doors will be manufactured by Astronics PECO in Clackamas, Oregon. These awards are in addition to a previous award in which Astronics PECO was selected to provide passenger service units (PSUs) for the 777X.
Peter J. Gundermann, President and CEO of Astronics Corporation, commented, “We have a long-standing, valued relationship with Boeing, and believe our particular manufacturing capabilities and product quality enabled us to provide our fuel access doors for the next-generation 777X and continue to be the provider on the 787. We appreciate the confidence Boeing has expressed in us as an innovative solution provider on multiple aircraft platforms.”
Astronics PECO brings a successful track record of providing structural fuel access doors on all Boeing platforms including the 787 and 777, plus PSUs on the 737 and 777. The production of the new 777X, billed as the largest and most efficient twin-engine jet in the world, is expected to begin in 2018. There are currently 326 firm orders for the 777X aircraft.
Astronics PECO offers nearly 50 years of design engineering and contract manufacturing expertise to aerospace and defense companies, producing a variety of sophisticated technical products from aircraft PSUs to environmental controls to airborne missile components. Capabilities include multi-disciplined design engineering and qualification, as well as highly integrated manufacturing operations providing custom-injection molding, die-casting, CNC machining, NADCAP-accredited bonding/chemical/finishing processes, integrated assembly and testing. Learn more about Astronics PECO offerings at Astronics.com.
About Astronics Corporation
Astronics Corporation (NASDAQ:ATRO) is a leading supplier of advanced technologies and products to the global aerospace, defense and semiconductor industries. Astronics’ products and services include advanced, high-performance electrical power generation and distribution systems, seat motion solutions, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. Astronics’ strategy is to increase its value by developing technologies and capabilities, either internally or through acquisition, and using those capabilities to provide innovative solutions to its targeted markets and other markets where its technology can be beneficial. Through its wholly owned subsidiaries, Astronics has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its website at www.astronics.com.
For more information on Astronics and its products, visit www.astronics.com.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the state of the aerospace, defense, consumer electronics and semiconductor industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, the need for new and advanced test and simulation equipment, customer preferences and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170808005225/en/
Source: Astronics Corporation
Nick Stevenson, 503-387-6433
Business Segment Manager
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908