Honeywell and Aveos Sign Agreement for Avionics and Mechanical Product Maintenance
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Press release date: October 9, 2008
PHOENIX, Oct. 9, 2008 - Honeywell (NYSE: HON) announced today that it signed maintenance agreements valued at over $345 million with Aveos, formerly ACTS, to service Honeywell avionics and mechanical products.
To support Aveos' in-house repair capabilities of Honeywell equipment, Honeywell is providing Aveos access to Honeywell technical publications through a 10-year license agreement provides, as well as a 10-year supply agreement to provide all mechanical, avionics, wheels and brakes and 36-300 and 85-129 auxiliary power unit piece parts.
Honeywell will also provide a five-year repair agreement to cover more than 400 flat-rate repairs for mechanical and avionic components across multiple airframes for Aveos' non in-house repairs.
"These agreements give Aveos enhanced access to Honeywell produced parts and services at industry-competitive pricing and enable us to support efforts to deliver industry-leading turnaround times. This will help us continue to provide our customers with efficient, integrated solutions for today's competitive marketplace," said Aveos President and CEO, Chahram Bolouri.
Honeywell International is a $38 billion 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 additional information, please visit www.honeywell.com.
Based in Phoenix, 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.
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