Firth Rixson Announces Long Term Purchasing Agreement with Honeywell Aerospace

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SHEFFIELD, England and EAST HARTFORD, Conn., April 18, 2011 /CNW/ -- Firth Rixson, a leading Aerospace industry supplier of highly engineered forged and specialty metal products, has recently signed a new long term purchasing agreement with Honeywell Aerospace. The agreement meets Honeywell sourcing objectives, provides localized support to Honeywell sites from Firth Rixson's US sites and expanding Eastern European presence, and also aligns Firth Rixson and Honeywell strategically for future additional growth. Spanning ten years, Firth Rixson estimates the new agreement will encompass over $300 million in forging sales, and is underpinned by an award of new business that includes market share gains in Aerospace rolled rings.

Firth Rixson CEO David C. Mortimer, in commenting on the agreement, said, "This agreement achieves revenue stabilization for Firth Rixson in an Aero market segment that is of great importance to our strategic goals. Further, it enhances a robust business base in our Ring Division operating units. We have again demonstrated our ability to support our customers' global sourcing initiatives, and look forward to the next decade of additional growth opportunity with Honeywell."

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    Note to Editors
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Headquartered in Sheffield, UK, Firth Rixson serves customers worldwide in market sectors such as Aerospace, Defense, Power Generation, Transportation, Petrochemical, Medical and General Industrial. Firth Rixson operates 12 manufacturing facilities in North America, United Kingdom, Europe and Asia.

Firth Rixson Limited (www.firthrixson.com) is owned by Oak Hill Capital Partners (www.oakhillcapital.com).

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SOURCE Firth Rixson

For further information: Andy Blanda, +1-860-970-4115 Web Site: http://www.firthrixson.com

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