Seattle-based Korry Electronics to Supply Pilot’s Overhead Panel System for Dreamliner
BELLEVUE, Wash., January 18, 2005 — Esterline Corporation ( NYSE /ESL www.esterline.com) today reported that Boeing (NYSE/BA) has awarded its Seattle-based Korry Electronics subsidiary a contract to supply the overhead panel system for the flight deck of the new 7E7 Dreamliner. The contract is valid through 2021.
The Esterline operation will act as the primary integrator for the system—responsible for design, manufacture and management of sub-tier partners—and deliver the final product directly to Boeing.
Robert W. Cremin , Esterline CEO, said, “…the award is a milestone for us. We have been working with Boeing for decades, providing our discrete lighted switches and other electronic components, but this is the first time that we will supply Boeing with a complete system on a Tier 1 basis.”
Cremin said he does not anticipate major hiring activity connected to the new program, but does expect the Korry subsidiary to add “…a dozen or so people to support the project over the long term.” Korry currently employs more than 530 people in its downtown Seattle manufacturing facility.
Esterline Corporation is a specialized manufacturing company serving principally aerospace/ defense markets. Esterline management views the company's businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials. Operations within the Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, secure communications systems, specialized medical equipment, and other high-end industrial applications. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, fluid and motion control components, and other related systems principally for aerospace and defense customers. Advanced Materials focuses on process-related technologies, including high-performance elastomer products used for a wide range of military and commercial aerospace purposes and combustible ordnance and electronic warfare countermeasure products.
About Korry Electronics:
Korry Electronics Co., a wholly-owned subsidiary of Esterline Technologies Corporation, is the market leader in the design and manufacture of illuminated cockpit interface products for display and control, and is known for its lighting expertise. Every Korry solution integrates proficiency in optics, electronics and software, mechanical packaging, mechanism design, and human factors. Korry’s products can be found on virtually every Boeing aircraft.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current intent and expectations of the management of Esterline, are not guarantees of future performance or actions, and involve risks and uncertainties that are difficult to predict. Esterline's actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements due to risks detailed in Esterline's public filings with the Securities and Exchange Commission.