Air Industries Group Wins Two Long-Term Agreements for Flight Critical Components for Blackhawk Helicopters with Combined Value of $18.2 Million

Rhea-AI Summary

Air Industries Group (NYSE American: AIRI) announced the award of two Long-Term Agreements (LTAs) valued at approximately $18.2 million over five years for manufacturing flight-critical assemblies for the Blackhawk helicopter. The first LTA covers the primary flight control assembly, valued at $9.9 million, while the second pertains to a critical component worth $8.3 million. Both components have over 20 years of production history at Air Industries, highlighting their expertise in aerospace manufacturing.

Positive

• Awarded two LTAs worth approximately $18.2 million over five years.
• First LTA for primary flight control assembly valued at $9.9 million.
• Second LTA for flight critical component valued at $8.3 million.
• Long history (over 20 years) of manufacturing components for Blackhawk helicopter.

Negative

• None.

BAY SHORE, N.Y.--(BUSINESS WIRE)-- Air Industries Group (NYSE American: AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced that its Long Island-based subsidiary, Air Industries Machining Corp., has been awarded two separate Long-Term Agreements (LTAs) to manufacture flight-critical assemblies for the Blackhawk helicopter. The estimated value of the two LTAs will total approximately $18.2 million over their five-year terms.

The agreements include a five-year LTA to manufacture the primary flight control assembly for the Blackhawk helicopter, with an estimated life-of-the-contract value of $9.9 million. The second five-year LTA, to produce a flight critical component for the same aircraft, has an estimated life-of-the-contract value of $8.3 million.

Mr. Lou Melluzzo, CEO of Air Industries, commented: “We are gratified to have won these two agreements to manufacture products whose flawless operation is critical for flight safety. We are proud to say that both components have been manufactured by Air Industries for more than 20 years.”

ABOUT AIR INDUSTRIES GROUP
Air Industries Group (NYSE American: AIRI) is an integrated manufacturer of precision assemblies and components for leading aerospace and defense prime contractors and original equipment manufacturers. The Company is a Tier 1 supplier to aircraft Original Equipment Manufacturers, a Tier 2 subcontractor to major Tier 1 manufacturers, and a Prime Contractor to the U.S. Department of Defense, and is highly regarded for its expertise in designing and manufacturing parts and assemblies that are vital for flight safety and performance.

Additional information about the Company can be found in its filings with the SEC.

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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Air Industries Group

Investor Relations

Michael Recca - CFO

631.328.7079

ir@airindustriesgroup.com

Source: Air Industries Group

FAQ

What is the value of the Long-Term Agreements awarded to Air Industries Group?

The LTAs awarded to Air Industries Group total approximately $18.2 million over five years.

What components will Air Industries Group manufacture under the new agreements?

Air Industries Group will manufacture flight-critical assemblies for the Blackhawk helicopter.

How long is the duration of the Long-Term Agreements for Air Industries Group?

The Long-Term Agreements are set for a duration of five years.

What is the estimated value of the primary flight control assembly LTA?

The estimated value of the primary flight control assembly LTA is $9.9 million.

What is the estimated value of the second LTA for Air Industries Group?

The estimated value of the second LTA is $8.3 million.