ASHEVILLE, N.C.—(BUSINESS WIRE)—December 12, 2006— SMITHS Aerospace, part of the global technology business Smiths Group, has entered into a Risk and Revenue Sharing program with GE Aviation. The program has a potential sales value to Smiths Aerospace of more than $60 million over its lifetime.
The program involves five F404 components that are manufactured at
the Smiths Aerospace Components facility in Asheville, North Carolina.
Under the program, Smiths will produce these parts for new and spare
engines. Deliveries will continue through 2023.
Peter Wright, President, Smiths Aerospace Components, said:
"Smiths has proven technical capability and strong customer relations
with GE Aviation. This Risk and Revenue Sharing program represents a
unique opportunity for Smiths to extend our participation on the F404
for the life of the program. We anticipate that the F404 will have
decades of use in powering the F/A-18s."
The performance and reliability of F404 engines have set the
standard for modern fighter engines. The engine family powers multiple
aircraft performing a broad spectrum of missions from low-level attack
to high-altitude interceptors. In addition to powering the U.S. Navy's
fleet of F/A-18 A/B/C/D carrier-capable aircraft, the F404 is on other
international aircraft such as the Swedish Gripen and Korean T-50
trainer. Some 3,700 of F404-GE-400 engine family have been built. The
U.S. Navy inventory for the F404 is currently at more than 1,300
Smiths is a global technology company, listed on the London Stock
Exchange. Smiths Group is a world leader in the practical application
of advanced technologies. Its products and services make the world
safer, healthier and more productive. Smiths Group has four divisions:
Aerospace, Detection, Medical and Specialty Engineering. It employs
32,000 people and has over 250 major facilities in 50 countries. For
more information visit www.smiths.com
Smiths Aerospace is a leading transatlantic aerospace systems and
equipment business, with more than 11,000 employees and $2.3 billion
revenues globally. The business holds key positions in the supply
chains of all major military and civil aircraft and engine
manufacturers and is a world-leader in digital, electrical power,
mechanical systems, engine components and customer services. For
further information visit www.smiths-aerospace.com