Air Industries Group Announces Long-Term Agreement for F-35 Landing Gear Components
Air Industries Group (AIRI) announced a follow-on Long-Term Agreement (LTA) to produce landing gear components for the F-35 Joint Strike Fighter, estimating purchases between $12 million and $18 million from 2022 to 2024. This agreement underscores Air Industries' ongoing involvement in a critical defense program, supporting production as it approaches full-rate. The company has provided these components since F-35 production began, strengthening its position within the aerospace and defense sector.
- Secured Long-Term Agreement for landing gear components, enhancing revenue stability.
- Estimated purchases between $12 million and $18 million over three years, indicating strong demand.
- Long-standing relationship with the F-35 program enhances credibility and future opportunities.
- None.
Air Industries Group (NYSE AMEX: AIRI):
Air Industries Group (“Air Industries” or the “Company”), an integrated manufacturer of precision equipment assemblies and components for leading aerospace and defense prime contractors, is pleased to announce that it has received a follow-on Long-Term Agreement (LTA) to produce landing gear components for the F-35 Joint Strike Fighter Aircraft.
The LTA from our customer estimates purchases of between
Mr. Lou Melluzzo, CEO of Air Industries commented: “Air Industries has produced landing gear components for the F-35 since the inception of production of the Aircraft. We are very pleased to be part of this historic program and to continue supporting the war fighter as production of the Aircraft approaches full-rate.”
ABOUT AIR INDUSTRIES GROUP
Air Industries Group (AIRI) is an integrated manufacturer of complex machined products including landing gear, flight control, and jet turbine components for leading aerospace and defense prime contractors.
FORWARD LOOKING STATEMENTS
Certain matters discussed in this press release are ‘forward-looking statements’ intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company’s statements regarding trends in the marketplace, future revenues, earnings and Adjusted EBITDA, the ability to realize firm backlog and projected backlog, cost cutting measures, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of projects due to variability in size, scope and duration, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company’s control. The factors discussed herein and expressed from time to time in the Company’s filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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