Wesco Aircraft Holdings Announces Expansion of Business with GKN Aerospace
16 Julio 2019 - 3:30PM
Wesco Aircraft Holdings, Inc. (NYSE: WAIR), the world’s leading
independent distributor and provider of comprehensive supply chain
management services to the global aerospace industry, today
announced a new agreement with GKN Aerospace, a global engineering
business with industry-leading technology including aerostructures
and engine systems on-board 100,000 flights a day, to provide fluid
management services to multiple sites across the Americas and
Europe.
The multiyear agreement expands the existing
relationship, with Wesco supporting all major aerospace and defense
programs across GKN Aerospace’s global footprint. The move is
expected to help GKN Aerospace manage its process fluid in a more
efficient and sustainable way, and forms part of GKN Aerospace’s
ongoing strategy to develop consolidated, global relationships with
class-leading suppliers.
Todd Renehan, Wesco Aircraft’s chief executive
officer, said, “We’re extremely pleased that GKN Aerospace has
extended its relationship with Wesco, further validating the
strength of our offering. The agreement adds more sites to the
support we have provided GKN Aerospace’s global business for nearly
three decades. Our relationship with GKN Aerospace is another
important example of the unique value Wesco provides customers in
aerospace and defense, as well as the broader industrial
sector.”
About Wesco Aircraft
Wesco Aircraft is the world’s leading
independent distributor and provider of comprehensive supply chain
management services to the global aerospace industry. The company’s
services range from traditional distribution to the management of
supplier relationships, quality assurance, kitting, just-in-time
delivery, chemical management services, third-party logistics or
fourth-party logistics and point-of-use inventory management. The
company believes it offers one of the world’s broadest portfolios
of aerospace products, including C-class hardware, chemicals and
electronic components and comprised of more than 560,000 active
SKUs.
To learn more about Wesco Aircraft, visit our
website at www.wescoair.com. Follow Wesco Aircraft on LinkedIn at
https://www.linkedin.com/company/wesco-aircraft-corp.
Forward-Looking Statements
This press release contains forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning Wesco Aircraft
Holdings, Inc. These statements may discuss goals,
intentions and expectations as to future plans, trends, events,
results of operations or financial condition, or otherwise, based
on current beliefs of management, as well as assumptions made by,
and information currently available to, management. In some
cases, readers can identify forward-looking statements by the use
of forward-looking terms such as “add,” “expand,” “expected,”
“ongoing” or similar words, phrases or expressions. These
forward-looking statements are subject to various risks and
uncertainties, many of which are outside the company’s
control. Therefore, the reader should not place undue reliance
on such statements.
Factors that could cause actual results to
differ materially from these forward-looking statements include,
but are not limited to, the following: general economic and
industry conditions; conditions in the credit markets; changes in
military spending; risks unique to suppliers of equipment and
services to the U.S. government; risks associated with the loss of
significant customers, a material reduction in purchase orders by
significant customers, or the delay, scaling back or elimination of
significant programs on which the company relies; the company’s
ability to effectively compete in its industry; risks associated
with the company’s long-term, fixed-price agreements that have no
guarantee of future sales volumes; the company’s ability to
effectively manage its inventory; the company’s suppliers’ ability
to provide it with the products the company sells in a timely
manner, in adequate quantities and/or at a reasonable cost, while
also meeting the company’s customers’ quality standards; the
company’s ability to maintain effective information technology
systems and effectively implement its new warehouse management
system; the company’s ability to successfully execute and realize
the expected financial benefits from its “Wesco 2020” initiative;
the company’s ability to retain key personnel; risks associated
with the company’s international operations, including exposure to
foreign currency movements; changes in trade policies; the
company’s dependence on third-party package delivery companies;
fuel price risks; fluctuations in the company’s financial results
from period-to-period; environmental risks; risks related to the
handling, transportation and storage of chemical products; risks
related to the aerospace industry and the regulation thereof; risks
related to the company’s indebtedness; and other risks and
uncertainties.
The foregoing list of factors is not
exhaustive. The reader should carefully consider the foregoing
factors and the other risks and uncertainties that affect the
company’s business, including those described in Wesco Aircraft’s
Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q, Current Reports on Form 8-K and other
documents filed from time to time with the Securities and Exchange
Commission. All forward-looking statements included in this
news release (including information included or incorporated by
reference herein) are based upon information available to the
company as of the date hereof, and the company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact Information:
Jeff MisakianVice President, Investor
Relations661-362-6847Jeff.Misakian@wescoair.com
Wesco Aircraft (NYSE:WAIR)
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