Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today
announced that the Department of Defense’s
decision to purchase 167 Bell Boeing V-22 Osprey tiltrotor aircraft will
lead to an estimated $120 million in revenues for the company over the
life of the multi-year contract. The contract, expected to run through
2012, provides for the procurement of 141 aircraft for the U.S. Marine
Corps and 26 aircraft for the U.S. Air Force.
Bell Boeing is a strategic alliance between Bell Helicopter, a Textron
Inc. (NYSE:TXT) company, and The Boeing Company (NYSE:BA). The overall
military procurement of V-22s is now expected to be 458 aircraft with an
estimated total lifetime program cost of $54 billion to support the
requirements of the U.S. Marine Corps, U.S. Air Force and U.S. Navy.
Eaton is a key supplier on the aircraft and the estimated revenues to
the company over the life of the total procurement program is $320
million.
"Eaton continues to be a proud key supplier for the Bell Boeing V-22
Osprey," said Bradley Morton, president, Aerospace Business. "In
addition to providing the unique aircraft with our state-of-the-art,
higher pressure 5,000 psi hydraulic power generation and motion control
system, we are also providing the airframe’s
fluid conveyance hoses and fittings, electro-mechanical components and
sub-systems, and gearbox and engine lubrication health monitoring
systems.”
The Bell Boeing V-22 Osprey is a revolutionary tiltrotor aircraft that
combines fixed-wing horizontal flight and vertical-lift capabilities in
one aircraft that can take off and land like a helicopter and fly like
an airplane. In the first deployment of the aircraft, a Marine MV-22
squadron has been operating in Iraq since October 2007.
In the aerospace industry, Eaton is a leading supplier of hydraulic,
electro-hydraulic pump and generator products and integrated systems;
electric motors; aircraft door actuation, flight and flow control;
fluid, fuel and air delivery products and systems; nose wheel steering
systems; integrated control systems; cockpit controls and displays;
power and load management systems; pressure sensors, seals and fluid
health monitoring products and systems. Eaton serves commercial and
military aviation, aerospace, military weapons, marine and off-road
markets worldwide.
Eaton Corporation is a diversified industrial manufacturer with 2007
sales of $13.0 billion. Eaton is a global leader in electrical systems
and components for power quality, distribution and control; hydraulics
components, systems and services for industrial and mobile equipment;
hydraulics, fuel and pneumatic systems for commercial and military
aircraft; intelligent truck drivetrain systems for safety and fuel
economy; and automotive engine air management systems, powertrain
solutions and specialty controls for performance, fuel economy and
safety. Eaton has 79,000 employees and sells products to customers in
more than 150 countries. For more information, visit www.eaton.com.
This news release contains forward-looking statements concerning the
company’s expected revenues related to the
Bell Boeing V-22 Osprey tiltrotor aircraft procurement program. These
statements should be used with caution because they are subject to
various risks and uncertainties, some of which are outside the control
of the company. Important factors that could cause actual results to
differ materially from those indicated by the forward-looking statements
include future funding for the V-22 Osprey program and unexpected
technical difficulties under the procurement program. We do not assume
any obligation to update these forward-looking statements.
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