VALENCIA, Calif., Oct. 19, 2016 (GLOBE NEWSWIRE) -- Wesco Aircraft Holdings, Inc. (NYSE: WAIR ), the world's leading provider of comprehensive supply chain management services to the global aerospace industry, has entered into agreements with United Technologies Corporation, a provider of high technology systems and services to the aerospace industry.
These multi-year agreements include the renewal and expansion of current contracts to provide chemical management services to Pratt & Whitney, a division of UTC, and UTC Aerospace Systems, a subsidiary of UTC, as well as the following agreements with UTC Aerospace Systems:
- An agreement to provide electronic components and kitting services;
- An agreement to provide integrated supply chain services for C-class aerospace hardware and electronic components, as well as vendor managed inventory services, to multiple sites in the United States;
- Agreements to provide chemical management services to multiple sites globally; and,
- The renewal and expansion of a current contract to provide integrated supply chain services for C-class aerospace hardware and vendor managed inventory services.
Dave Castagnola, Wesco’s president and chief executive officer, said, “United Technologies Corporation is a valued customer and industry leader, and we’re very pleased to extend and expand our long-term relationship. The agreements announced today point to the strength of our product portfolio and leverage the value proposition we provide manufacturers in the aerospace and defense industry; they include the renewal of chemical and hardware services on major growth platforms, as well as the addition of new sites and products. The scope of solutions we provide covers multiple commodities and supply chain services globally. We believe our ability to deliver service to top-tier global companies, like United Technologies, continues to position us well within our markets.”
About Wesco Aircraft
Wesco Aircraft is the world's leading distributor and provider of comprehensive supply chain management services to the global aerospace industry, based on annual sales. The company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery and point-of-use inventory management. The company believes it offers one of the world’s broadest portfolios of aerospace products, including chemical, electrical and C-class hardware and comprised of more than 575,000 active SKUs.
To learn more about Wesco Aircraft, visit our website at www.wescoair.com . Follow Wesco Aircraft on LinkedIn at https://www.linkedin.com/company/wesco-aircraft-corp .
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future, not past, events and are subject to risks and uncertainties. The forward-looking statements, which address the company's expected business and financial performance and financial condition, among other matters, contain words such as: “believe,” “continue,” “expand,” “provide” or similar words, phrases or expressions. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the company’s control. Therefore, the reader should not place undue reliance on such statements.
Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about expected business outcomes and growth. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: general economic and industry conditions; conditions in the credit markets; changes in military spending; risks unique to suppliers of equipment and services to the U.S. government; risks associated with the company’s long-term, fixed-price agreements that have no guarantee of future sales volumes; risks associated with the loss of significant customers, a material reduction in purchase orders by significant customers or the delay, scaling back or elimination of significant programs on which the company relies; the company’s ability to effectively compete in its industry; the company’s ability to effectively manage its inventory; the company’s ability to fully integrate the acquired business of Haas and to realize anticipated benefits of the combined operations; risks relating to unanticipated costs of integration; the company’s suppliers’ ability to provide it with the products the company sells in a timely manner, in adequate quantities and/or at a reasonable cost; the company’s ability to maintain effective information technology systems; risks associated with the company’s international operations, including exposure to foreign currency movements; environmental risks; risks related to the handling, transportation and storage of chemical products; risks related to the aerospace industry and the regulation thereof; and other risks and uncertainties.
The foregoing list of factors is not exhaustive. The reader should carefully consider the foregoing factors and the other risks and uncertainties that affect the company’s business, including those described in Wesco Aircraft’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed from time to time with the Securities and Exchange Commission. These or other uncertainties may cause the company’s actual future results to be materially different than those expressed in any forward-looking statements. The company undertakes no obligation to update or revise any forward-looking statements.
Jeff Misakian Vice President, Investor Relations 661-362-6847 Jeff.Misakian@wescoair.com
