EAST AURORA, N.Y., – Astronics Corporation (NASDAQ:ATRO), a leading supplier of products to the global aerospace, defense, consumer electronics and semiconductor industries, announced today that it has been selected to supply the Passenger Service Units (PSU) on the new family of long-range Boeing 777X aircraft. The award is subject to the execution of a final purchase agreement.
Mr. Peter J. Gundermann, President and Chief Executive Officer of Astronics, commented, "We have had a long-standing relationship with Boeing on the 777 platform, and we are excited to participate on the 777X. We appreciate the confidence Boeing has expressed in us and look forward to our product contributing to the cabin innovations and improved passenger comfort levels Boeing plans for the 777X."
Production of the 777X, the largest and most efficient twin-engine jet in the world, will begin in 2017. There currently are 320 orders and commitments for the aircraft. The cabin interior will include larger windows, a wider cabin, new lighting and enhanced architecture, including the Astronics PSU.
About Astronics Corporation
Astronics Corporation (NASDAQ:ATRO) is a leading supplier of products to the global aerospace, defense, consumer electronics and semiconductor industries. Astronics' products include advanced, high-performance electrical power generation and distribution systems, lighting and safety systems, avionics products, aircraft structures, engineering design and systems certification, and automated test systems. Astronics' strategy is to increase its value by developing technologies and capabilities, either internally or through acquisition, and using those capabilities to provide innovative solutions to its targeted markets and other markets where its technology can be beneficial. Astronics Corporation, through its wholly-owned subsidiaries, has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its website at www.astronics.com.
For more information on Astronics and its products, visit its website at www.astronics.com.
For more information, contact:
David C. Burney, Chief Financial Officer
Phone: (716) 805-1599, ext. 159
Deborah K. Pawlowski, Kei Advisors LLC
Phone: (716) 843-3908