BAY SHORE, NY–(BUSINESS WIRE)–February 2, 2022–
Air Industries Group (US NYSE: AIRI), a Tier 1 integrated manufacturer of precision assemblies and components for critical aerospace and defense applications, and a prime contractor for the U.S. Department of Defense, today announced that its Long-based subsidiary Island, Air Industries Machining Corp., was awarded a Long Term Agreement (LTA) for manufacturing flight-critical products for the Blackhawk helicopter. The estimated value of the LTA is $2.4 million.
Mr. Lou Melluzzo, CEO of Air Industries, said: “For more than 20 years, Air Industries has manufactured products whose flawless operation is essential to the safe flight of the Blackhawk helicopter. On January 19, we announced two new LTAs for Blackhawk products worth an estimated $18.2 million. This is the third long-term deal bringing the estimated combined value to over $20 million.
ABOUT THE AIR INDUSTRIES GROUP
Air Industries Group (NYSE American: AIRI) is an integrated manufacturer of precision assemblies and components for major aerospace and defense prime contractors and original equipment manufacturers. The company is a Tier 1 supplier to aircraft original equipment manufacturers and a U.S. Department of Defense prime contractor, and is highly regarded for its expertise in the design and manufacture of parts and assemblies that are vital to flight safety and performance.
Additional information about the Company may be found in its filings with the SEC.
Certain matters discussed in this press release are “forward-looking statements” intended to benefit from the safe harbor of liability established by the Private Securities Litigation Reform Act of 1995. market, future revenues, earnings and adjusted EBITDA, the ability to realize a firm and expected backlog, cost reduction measures, potential future results and acquisitions, are examples of such forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, timing of projects due to variability in size, scope and duration, inherent variance between results actual events and estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, which are not within the control of the Company . The factors discussed herein and expressed from time to time in the Company’s filings with the Securities and Exchange Commission could cause actual results and developments to differ materially from those expressed or implied by such statements. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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CONTACT: Air Industries Group
Michael Recca – Chief Financial Officer
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
KEYWORD INDUSTRY: AEROSPACE MANUFACTURING OTHER TRANSPORTATION AIR TRANSPORT OTHER MANUFACTURING OTHER DEFENSE INDUSTRIES DEFENSE CONTRACTS ENGINEERING
SOURCE: Air Industries Group
Copyright BusinessWire 2022.
PUBLISHED: 02/02/2022 16:30/DISC: 02/02/2022 16:32
Copyright BusinessWire 2022.