Companies consolidate partnership, building on existing support of aircraft platforms 777, A330 and A340
DUBAI, UAE March 13, 2012 – Honeywell (NYSE:HON) and Emirates have consolidated their partnership by signing a General Terms Agreement that extends until 2019.
Under the framework of this General Terms Agreement, the parties have also signed the first Specific Business Agreement for Honeywell to provide repair and overhaul support for its avionic and mechanic components on Emirates’ 777, A330 and A340 aircraft over a five-year term.
“The General Terms Agreement changes the relationship between our two companies, codifying how we will work together in the future and underlining Honeywell’s ability to provide comprehensive supply services and aftermarket care on its broad range of products,” said John Ashton, Vice President Airlines EMEAI at Honeywell Aerospace. “Crucially, it demonstrates that our investment and commitment to the Middle East, where we use our presence in UAE, Egypt, Qatar and Saudi Arabia to serve the needs of this important regional market, is the right choice for our business.”
Through the terms of the agreement Honeywell and Emirates create a strong foundation to streamline future business partnerships and reinforce the long-standing relationship between the two companies.
“The level of Honeywell’s aftermarket care is an important element of support to Emirates as we continue to maintain and upgrade our fleet. As the leading Middle East operator and the second largest international global operator in terms of Revenue Passenger Kilometres, optimum support, performance and competitive life-cycle costs are essential in maintaining continuous growth,” said Iain Lachlan, Emirates Divisional Senior Vice President, Engineering. “This agreement demonstrates our desire and willingness to enter into relationships with key suppliers and partners who share our desire to deliver the highest standards in safety and quality of service and product.”
Honeywell’s aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.
Dubai-based Emirates (www.emirates.com) is one of the fastest growing airlines in the world, and has received more than 500 international awards for excellence. Emirates now flies to122 destinations in 72 countries. The airline reported a net profit of USD$1.5 billion for the last fiscal year. Emirates operates 170 wide-body Airbus and Boeing aircraft, and has orders for an additional 235 aircraft, worth more than USD$84 billion.
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This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.
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