SOURCE: Esterline Technologies

Esterline Technologies

April 09, 2009 16:05 ET

Esterline Partners With Rolls-Royce on Trent XWB Engine Program

BELLEVUE, WA--(Marketwire - April 9, 2009) - Esterline Corporation (NYSE: ESL) (www.esterline.com), a leading specialty manufacturer serving principally aerospace and defense markets, announced today that its Advanced Sensors operation has been chosen by Rolls-Royce to partner on its Trent XWB engine program.

The Rolls-Royce Trent XWB is the sole engine currently available to power all variants of the new Airbus A350 XWB family of aircraft. To date, Rolls-Royce has received over 1,000 orders for Trent XWB engines.

Robert W. Cremin, Esterline's Chief Executive Officer, said Esterline will be responsible for the supply of approximately 30 separate components in the sensors package. At least 75% of these components "...will be produced in-house at our Advanced Sensors facilities, including our U.K.-based Weston Aerospace operation, our France-based Auxitrol operation, our U.S.-based Norwich Aero operation, and our new facility in Mexico," he said. The balance of the package will be procured from strategic suppliers to Esterline.

The first Esterline-supplied Trent XWB components are scheduled for delivery to Rolls-Royce in early 2010. Initial ground testing of the Trent XWB is due to commence in late 2010, with entry into service of the new Airbus airliner scheduled for 2013.

Cremin estimated the agreement would generate approximately $500 million in revenue over the life of the program. He said Esterline will act as a Tier 1 supplier in an arrangement that "...enables us to earn revenue from every flying hour over the entire life of the program."

Esterline Advanced Sensors serves the gas turbine and aircraft markets with a range of pressure, speed and temperature sensors. It employs over 900 people in manufacturing facilities located in Europe, the United States and Mexico.

Esterline Advanced Sensors supports many current Rolls-Royce civil engine programs, including the RB211-535, RB211-524, BR710, BR715, Trent 500, Trent 700, Trent 800, and Rolls-Royce's industrial and military applications. It provides all-inclusive customer service and support on its components via its dedicated aftermarket division 'Esterline Sensor Services.'

About Esterline:

Esterline Corporation is a leading worldwide supplier to the aerospace and defense industry specializing in three core areas: Advanced Materials, Avionics & Controls and Sensors & Systems. With annual sales of $1.5 billion, Esterline employs more than 10,000 people, including 1,500 engineers worldwide. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. Operations within the Advanced Materials segment focus on technologies including high-temperature-resistant materials and components used for a wide range of military and commercial aerospace purposes, and combustible ordnance and electronic warfare countermeasure products. Operations within the Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, secure communications systems, specialized medical equipment, and other high-end industrial applications.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should" or "will," or the negative of such terms, or other comparable terminology. These forward-looking statements are only predictions based on the current intent and expectations of the management of Esterline, are not guarantees of future performance or actions, and involve risks and uncertainties that are difficult to predict and may cause Esterline's or its industry's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Esterline's actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements due to risks detailed in Esterline's public filings with the Securities and Exchange Commission.