Air Industries awarded 'Life of the Program Extension' to deliver components

Air Industries Group (AIRI) is pleased to announce that its Sterling Engineering subsidiary has been awarded a "Life of the Program Extension" of a Long-Term Agreement to deliver Turbine Exhaust Case components for the PW-4000 jet engine used on many Airbus (EADSY) and Boeing (BA) commercial aircraft, including the A-330 and Boeing 777. It is anticipated that this contract extension will generate revenue in excess of $6 million over its remaining term. Turbine Exhaust Cases are highly engineered critical components of jet engines. The TEC for the PW-4000 is five feet in diameter. Sterling Engineering has been producing this component for the PW-4000 jet engine for over ten years. Mr. Lou Melluzzo, CEO of Air Industries, commented: "One of the key corporate objectives at Sterling Engineering is to transition a larger percentage of the product mix into long term agreements. Extending this Exhaust Case component for the "life of the program" confirms our customer's confidence that we can produce it competitively and meet their delivery requirements. This award, together with the LTA for the CH-53K helicopter that we announced on October 13th of last year, furthers our progress with the transition of Sterling Engineering's business."