Erickson Air-Crane Incorporated, a leading operator and the manufacturer of the powerful heavy-lift helicopter, the Erickson S-64 Aircrane, today announced that the NATO Maintenance and Supply Agency (“NAMSA”), which provides various logistics services for NATO nations, has, as the prime contracting party, awarded the Company a three year contract to supply aerial firefighting services in Greece for the 2012 to 2014 firefighting seasons, which may be extended for a further two years at NAMSA’s option. Under the contract Erickson will receive payments with respect to the provision of its helicopters amounting to $8.9 million per year or $44.4 million over the life of the contract, if extended. Erickson is entitled to receive additional amounts depending on the level of flight hours activity experienced by the helicopters during the term of the contract.
The aerial firefighting services are to be provided by three heavy-lift Aircrane helicopters already deployed in Europe. Payment terms on amounts billed under the contract are 60 days from the end of month of invoice, paid directly by NAMSA in USD.
“We are very pleased to be a supplier to NAMSA and to assist them in protecting the people, property and natural resources of Greece from the dangers of fire, something we have done in partnership with the Hellenic Fire Brigade for more than ten years,” said Udo Rieder, President and CEO of Erickson Air-Crane.
Business Outlook and Backlog
As a result of the award of this contract, the Company’s backlog increases by $44.4 million, of which $8.9 million is expected to be filled in 2012.
The Company’s reiterates its forecast for the second quarter ending June 30, 2012 and fiscal year ending December 31, 2012, which had assumed the signing of the NAMSA contract.
About Erickson Air-Crane Incorporated
Erickson Air-Crane specializes in the operation and manufacture of the Erickson S-64 Aircrane (the “Aircrane”), a versatile and powerful heavy-lift helicopter. The Aircrane has a lift capacity of up to 25,000 pounds and is the only commercial aircraft built specifically as a flying crane without a fuselage for internal loads. The Aircrane is also the only commercial heavy-lift helicopter with a rear load-facing cockpit, combining an unobstructed view and complete aircraft control for precision lift and load placement capabilities. Erickson Air-Crane owns and operates a fleet of 17 Aircranes, which are used to support a wide variety of government and commercial customers worldwide across a broad range of aerial services, including firefighting, timber harvesting, infrastructure construction, and crewing. Erickson Air-Crane also manufactures Aircranes and related components for sale to government and commercial customers and provides aftermarket support and maintenance, repair, and overhaul services for the Aircrane and other aircraft. Founded in 1971, Erickson Air-Crane is headquartered in Portland, Oregon with its principal manufacturing facility based in Central Point, Oregon. For more information, please visit http://www.ericksonaircrane.com.
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