SYMBOL: NAS Common Shares
CHICAGO, IL, Oct. 24 /CNW/ - (All amounts within this news release are
stated in U.S. dollars) Northstar Aerospace, Inc. added new business valued at
$66 million during the three months ended September 30, 2008, bringing
year-to-date total defense and commercial sector backlog to $496 million at
September 30, 2008 compared to $380 million at September 30, 2007.
Major new orders during the quarter included $25 million with Sikorsky
Aircraft Corp. to manufacture spiral bevel gears for the UH-60 Blackhawk
helicopter for deliveries over a four year period. The company also received
orders valued at $20 million for the CH-47 Chinook helicopter, $6.8 million
for various Rolls-Royce programs, $5.7 million on the F/A-22 Raptor program
and $4.7 million on Honeywell defense and commercial activities. The balance
of the orders in the quarter was spread across a number of other defense and
commercial programs. Through September, the company has received a total of
$140 million of orders on the CH-47 Chinook program in 2008 compared to
$167 million for the same period in 2007.
"Defense sector revenues continue to be principal contributor to backlog
growth while the commercial sector backlog remains stable year-on-year.
The CH-47 Chinook continues to be the company's major growth platform,
but order intake on other key programs is also strong," said Glenn Hess,
President and Chief Executive Officer, Northstar Aerospace, Inc.
"We are focused on upgrading our team, processes and systems to create a
manufacturing structure to meet customers' growing demands and to turn
the record backlog into profitable growth and positive cash generation,"
Northstar Aerospace, Inc. (www.nsaero.com) is North America's leading
independent manufacturer of flight critical gears and transmissions. Northstar
Aerospace is a public company (TSX:NAS) with operating subsidiaries in the
United States and Canada. Its principal products include helicopter gears and
transmissions, accessory gearbox assemblies, rotorcraft drive systems and
other machined and fabricated parts. It also provides maintenance, repair and
overhaul of helicopter engines and transmissions. The Company's executive
offices are located in Chicago, Illinois. Its plants are located in Chicago,
Illinois; Phoenix, Arizona; Stroud, Oklahoma; Anderson, Indiana; and Milton
and Windsor, Ontario.
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