World's Larges Turboprop Will Power Europe's New Tactical Military Transport
BELLEVUE , Wash. , November 23, 2004 --Esterline Corporation ( NYSE /ESL www.esterline.com) today reported that its Sensors Group has been awarded a contract to supply the sensor suite for the TP400M Turboprop. The new engine will power the Airbus A400M Airlifter, Europe ’s new tactical military transport. The award was made by Rolls-Royce Deutschland, a member of Europrop International, the consortium responsible for the design and manufacture of the new engine. Sales over a 12- to 15-year period are expected to total $35 million to $40 million.
The Esterline operation will take a Tier 1 role, designing and manufacturing the majority of sensors at its two European sites (Weston Aerospace in Farnborough, England, and Auxitrol in Bourges, France), and managing the supply of the balance of the suite of sensor components through US and European sub-tier partners.
Robert W. Cremin , Esterline CEO, said, “…the award is testimony to the growing capability of our Sensors Group, and to the strength of the long-standing relationship it holds with Rolls-Royce.”
The first flight of the A400M is planned for 2007, with entry into service in 2009. Firm commitments have been given for 180 aircraft over the period 2007-2021; export markets offer the opportunity to significantly increase volumes.
Esterline Corporation is a specialized manufacturing company serving principally aerospace/ defense and medical 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.
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.