Meggitt PLC Agreement with Wizz Air on A321neo wheels & brakes (7445P)
31 May 2018 - 4:00PM
UK Regulatory
TIDMMGGT
RNS Number : 7445P
Meggitt PLC
31 May 2018
31 May 2018
Meggitt PLC
("Meggitt")
Meggitt secures agreement with Wizz Air as the launch customer
for its A321neo wheels and brakes
Meggitt PLC, a leading international company specialising in
high performance components and sub-systems for the aerospace,
defence and energy markets, and Wizz Air, the largest low cost
carrier in Central and Eastern Europe today announce that they have
finalised the terms of a long-term agreement for Meggitt to supply
wheels and brakes, worth more than $50 million over the lifetime of
this all-encompassing, material maintenance agreement which will
start from 2021.
Meggitt will provide its latest NuCarb(R) carbon brake to Wizz
Air, with a new wheel specifically designed to improve the
performance characteristics of the A321neo aircraft. Wizz Air is
currently committed to 110 A321neo aircraft with options for a
further 90 and will begin taking delivery of these aircraft in
2019.
Tony Wood, Chief Executive, said: "Meggitt is proud to be
pairing our NuCarb(R) technology with the A321neo aircraft for our
launch customer, Wizz Air. This agreement builds on our existing
partnership with Airbus to bring state of the art technology to the
A321neo aircraft programme. We are grateful for the trust Wizz Air
has placed in Meggitt following their rigorous selection process
which further underlines the performance and operating cost
benefits of our innovative aircraft braking technology".
Ends
Enquiries
Meggitt PLC +44 (0)1202 597 866
Jessica Barrett, Investor Relations
Manager
FTI Consulting +44 (0)20 3727 1000
Deborah Scott, Senior Managing
Director
Nick Hasell, Managing Director
Cautionary statement
This trading update, including information included or
incorporated by reference in this trading update, may contain
forward-looking statements concerning Meggitt PLC or its group.
Generally, the words "will", "may", "should", "continue",
"believes", "expects", "intends", "anticipates" or similar
expressions identify forward-looking statements. Such
forward-looking statements involve risks, uncertainties and other
important factors which could cause the actual results, performance
or achievements of the Meggitt group or the market and economies in
which the Meggitt group operates to be materially different from
those expressed or implied by such forward-looking statements. Many
of these risks and uncertainties relate to factors that are beyond
the ability of Meggitt PLC or its directors to control or estimate
precisely, such as future market conditions and the behaviours of
other market participants, and therefore undue reliance should not
be placed on such statements, which speak only as at the date of
this trading update. Neither Meggitt PLC, nor any of its group
undertakings, nor the directors of any of them, assumes any
obligations to, and do not intend to, update these forward-looking
statements, except as required pursuant to applicable law.
This information is provided by RNS, the news service of the
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END
AGRURANRWAAVOAR
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May 31, 2018 02:00 ET (06:00 GMT)
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