B/E Aerospace Offers Cockpit Security Product To Airlines
WELLINGTON, Fla., Oct 1, 2001 (BUSINESS WIRE) -- B/E Aerospace, Inc. (Nasdaq: BEAV chart, msgs), the world's largest manufacturer of aircraft cabin interior products, today announced that its cockpit security product could be ready for installation on existing commercial passenger aircraft as early as January 2002.
The integrated security system has as its centerpiece an anti-ballistic cockpit door with a patent-pending entry and locking system. Kevlar(TM) and steel provide the anti-ballistic barrier for the door and surrounding structures. A camera system enables the flight crew to monitor the passenger cabin.
"Airlines see prompt installation of cockpit security as key to restoring passenger confidence in air travel," said Mr. Robert J. Khoury, President and Chief Executive Officer of B/E Aerospace. "Our airline customers are showing a strong interest in this product. A large number of airlines have asked us to provide quotations for retrofitting their existing fleets. We could begin shipping the product in quantity as early as January 2002."
B/E developed the basic cockpit security product over a year ago for a foreign airline. The total potential market for retrofitting cockpit security systems on approximately 10,000 existing aircraft worldwide is estimated at $1.5 billion to $2 billion.
"B/E is well-positioned to serve this new market need," said Mr. Khoury. "Our product was developed and tested over one year ago, we have strong aerospace engineering and manufacturing capabilities, and we have long-standing customer relationships with every major airline worldwide."
This news release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties, and B/E's actual experience may differ materially from that anticipated in such statements. Factors that might cause such a difference include those discussed in B/E's filings with the Securities and Exchange Commission, including but not limited to its most recent proxy statement, Form 10-K and Form 10-Q. For more information, see the section entitled "Forward-Looking Statements" contained in B/E's Form 10-K and in other filings.
B/E Aerospace, Inc. is the world's leading manufacturer of aircraft cabin interior products, serving virtually all the world's airlines and aircraft manufacturers. B/E designs, develops, manufactures, sells and services a broad line of passenger cabin interior products for both commercial and business/VIP aircraft and provides interior design, reconfiguration and conversion services to its customers throughout the world. With annual revenues exceeding $700 million, the company employs more than 4,000 people worldwide. For more information, visit B/E's web site at beaerospace.com.
Contact:
B/E Aerospace, Inc., Wellington
Max Kuniansky, Director of Investor Relations
561/791-5000
max_kuniansky@beaerospace.com
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