Wesco Aircraft Holdings Announces Contract Award with Leonardo S.p.A.
20 June 2019 - 6:30AM
Wesco Aircraft Holdings, Inc. (NYSE: WAIR), the world’s leading
independent distributor and provider of comprehensive supply chain
management services to the global aerospace industry, today
announced that it has signed a new agreement with Leonardo S.p.A.,
a global high-technology company and one of the world’s top 10
players in aerospace, defense and security.
Under the new multiyear agreement, Wesco will
provide comprehensive chemical management services for Leonardo’s
joint strike fighter program in Cameri, Italy. The new agreement
expands Wesco’s existing support of hardware, chemical and
electronic component products and services across multiple sites
and major aerospace and defense programs for Leonardo globally.
Declan Grant, Wesco Aircraft’s executive vice
president and chief commercial officer, said, “We’re excited about
this new opportunity with Leonardo. Our relationship with Leonardo
has expanded significantly this year. In addition to the chemical
management services agreement announced today, we have been awarded
multiple hardware and electronic component contracts over the past
few months, supporting the company’s growing business. These awards
demonstrate the strength of our long-standing relationship with
Leonardo, as well as the robust value proposition Wesco provides
customers in aerospace and defense.”
About Wesco Aircraft
Wesco Aircraft is the world’s leading
independent distributor and provider of comprehensive supply chain
management services to the global aerospace industry. The company’s
services range from traditional distribution to the management of
supplier relationships, quality assurance, kitting, just-in-time
delivery, chemical management services, third-party logistics or
fourth-party logistics and point-of-use inventory management. The
company believes it offers one of the world’s broadest portfolios
of aerospace products, including C-class hardware, chemicals and
electronic components and comprised of more than 560,000 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 press release contains forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning Wesco Aircraft
Holdings, Inc. These statements may discuss goals,
intentions and expectations as to future plans, trends, events,
results of operations or financial condition, or otherwise, based
on current beliefs of management, as well as assumptions made by,
and information currently available to, management. In some
cases, readers can identify forward-looking statements by the use
of forward-looking terms such as “expand,” “opportunity,” “grow,”
“will” 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.
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 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; risks associated
with the company’s long-term, fixed-price agreements that have no
guarantee of future sales volumes; the company’s ability to
effectively manage its inventory; 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, while
also meeting the company’s customers’ quality standards; the
company’s ability to maintain effective information technology
systems and effectively implement its new warehouse management
system; the company’s ability to successfully execute and realize
the expected financial benefits from its “Wesco 2020” initiative;
the company’s ability to retain key personnel; risks associated
with the company’s international operations, including exposure to
foreign currency movements; changes in trade policies; the
company’s dependence on third-party package delivery companies;
fuel price risks; fluctuations in the company’s financial results
from period-to-period; environmental risks; risks related to the
handling, transportation and storage of chemical products; risks
related to the aerospace industry and the regulation thereof; risks
related to the company’s indebtedness; 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. All forward-looking statements included in this
news release (including information included or incorporated by
reference herein) are based upon information available to the
company as of the date hereof, and the company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact Information:
Jeff MisakianVice President, Investor
Relations661-362-6847Jeff.Misakian@wescoair.com
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