2nd Oct 2006 07:03
Hampson Industries PLC02 October 2006 2 October 2006 Major Contract Update Hampson Industries PLC ("Hampson"), the aerospace and precision engineeringgroup, is pleased to congratulate Eclipse Aviation for achieving fullcertification for the Eclipse 500 Very Light Jet ("VLJ") aircraft on 30September 2006. Hampson is contracted with Eclipse to manufacture and supplythe complete empennage (tail structure) for the Eclipse 500 from purpose-designed, state-of-the-art facilities in the UK and USA and has been supportingthe programme during its pre-production phase, including throughout thedemanding FAA certification process. Hampson's involvement in the Eclipseproject was broadened earlier this year when it won an estimated US$75m contractto supply flight-critical, advanced composite structures for the revolutionarynew VLJ. These will be engineered and supplied by the Texstars unit of itsspecialist Composites and Transparencies division, based in Texas, USA. Texstarswas acquired by Hampson in December 2004. The terms of both the empennage and composite contracts with Eclipse wereextended recently to December 2015, representing an increase of over 33% in theexpected value to Hampson of the combined contracts over their lives. With fullcertification in place, deliveries of the Eclipse 500 can now commence andoutput is planned to be at an annualised level of 750 aeroplanes by the end of2007, to satisfy a reported order book already standing at 2,500 aircraft. Commenting on the announcement, Kim Ward, CEO of Hampson, said: "We are veryexcited to be involved in the manufacture of this revolutionary new jetaircraft, which is blazing the trail for a new market for Very Light Jets. Thesewill make personal jet aviation available to a broader constituency amonghigher-end business and leisure travellers and pilot-owners. "The fact that we are supplying both the empennage and composite structuresconfirms the rationale behind our strategic push into advanced compositeaerospace materials as well as continuing to invest in our existing world-class manufacturing technologies." Vern Raburn, CEO of Eclipse Aviation, added: "This achievement is a tribute to the vision and commitment of the Eclipse team,the FAA, our stockholders and our suppliers. We have moved from a developmentcompany to a company that is accelerating production of the Eclipse 500 tosatisfy a 2,500 aircraft backlog. Hampson Industries has provided us withbreakthrough solutions to critical manufacturing challenges at several stages inthis demanding project and shares our relentless commitment to quality andperformance." For further details: Kim Ward Chief Executive +44 (0) 1384 472941 Howard Kimberley Finance Director +44 (0) 1384 472946 Jonathan Gollins/Marylene Guernier M: Delta +44 (0) 20 7153 1268 Note to Editors About Hampson Hampson Industries PLC is a rapidly growing international group serving theglobal aerospace, precision automotive and specialist engineering markets, withapproximately 1,600 employees and operations in the UK, the USA and India. In December 2003, the group announced a record contract to manufacture andassemble the complete empennage (tail structure) for the revolutionary newEclipse 500 Very Light Jet. In December 2004, Hampson acquired Texas, USA-based Texstars Inc, a leadingmanufacturer of military aircraft transparencies and composite products foraerospace and defense applications. In December 2005, the group acquired California, USA-based Coast Composites Inc,a leading manufacturer of large, critical tolerance tooling for aero structuralcomponents and Lamsco Inc, a niche manufacturer of laminated shims and specialist components for airframe construction. On 9 March 2006 Hampson was promoted to the FTSE SmallCap Index from the FTSEFledgling. The group's market capitalisation rose by 81%, from £81m in October2005 to £147m at the time of entry. http://www.hampsongroup.com Group Headquarters and Registered Office 7 Harbour Buildings, Waterfront West, Dudley Road,Brierley Hill, Halesowen, West Midlands, DY5 1LNTel: +44 (0)1384 485 345 Website: www.hampsongroup.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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