Fort Worth, TX - October 21, 2013 - Bell Helicopter, a Textron Inc. company (NYSE: TXT), announced today that Spirit AeroSystems (NYSE: SPR) will design, develop and manufacture the fuselage for the Bell V-280 Valor™.
"We are pleased Spirit has made the strategic decision to join Team Valor and will provide the fuselage for the Bell V-280, our third generation tiltrotor," said John Garrison, president and CEO of Bell Helicopter. "Spirit joins our growing team of aerospace leaders who are aligning their interests and resources to deliver the highest levels of maturity and technical readiness to the U.S. Army for their future vertical lift missions."
"Spirit, one of the world's largest composite aerostructures design/build manufacturers, is proud to be a part of Team Valor," said Larry Lawson, president and CEO, Spirit AeroSystems. "This is an important teaming relationship for both our companies to deliver the best value to such a vital customer as the U.S. Army. Designing and building the fuselage on the V-280 Valor centers on Spirit's core strengths, given our proven capabilities in large-scale advanced composite design and manufacturing, derived from both commercial and military platforms. Spirit is excited to bring our high quality, low-cost solutions to bear in support of U.S. warfighters' need for a Future Vertical Lift family of systems with unparalleled range, speed and payload."
Team Valor is comprised of leading aerospace companies, bringing the best engineering resources, industrial capabilities, and critical thinking in the industry to meet the Army's needs. Additional team members will be announced in the coming weeks.
The transformational features of Bell Helicopter's third generation tiltrotor represent the most operationally effective aircraft for the U.S. Army's Future Vertical Lift requirements. With increased maintainability and component and systems reliability, the Bell V-280 is designed to deliver the best value in procurement, operations and support, and force structure. With twice the speed and range of the US Army's current fleet, the Bell V-280 Valor will offer commanders a combat maneuver platform with unmatched operational agility to self-deploy and perform a multitude of vertical lift missions.
About Bell Helicopter
Bell Helicopter, a wholly owned subsidiary of Textron Inc., is an industry-leading producer of commercial and military, manned and unmanned vertical-lift aircraft and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell's global workforce serves customers flying Bell aircraft in more than 120 countries.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
About Spirit AeroSystems
Spirit AeroSystems, Inc., headquartered in Wichita, KS, USA, is one of the largest non-OEM designers and manufacturers of aerostructures for commercial, military and business/regional jets in the world. Spirit's people, capabilities and state-of-the-art technologies provide customers with high-quality, high-value, cost competitive products and services. Spirit brings more than 80 years of experience with the world's most successful and admired aircraft manufacturers.
Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the risk that the U.S. Army will not choose the Bell V-280 for its Future Vertical Lift program; the efficacy of research and development investments to develop new products or unanticipated expenses or delays in connection with the launching of significant new products or programs; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; changes in worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government's ability to unilaterally modify or terminate its contracts with us for the U.S. Government's convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; and performance issues with key suppliers, subcontractors or business partners.
Contact
Bell Helicopter
Susan Gordon
817-280-3100
mediarelations@bh.com
Spirit AeroSystems
Ken Evans
316-523-4070
kenneth.d.evans@spiritaero.com
Remember, Airbus also wanted to use a lipstick on a pig strategy for their A350, but facing protests from potential customers it went the clean sheet all the way. I applaud such a strategy. Always! Until the day I die!
