Air Industries Group announces long-term, five year agreement

Air Industries Group, an integrated manufacturer of precision equipment assemblies and components for leading aerospace and defense prime contractors, is pleased to announce that it has received a significant new Long-Term Agreement (LTA or Agreement) through its subsidiary Air Industries Machining Corporation (AIM). This five-year LTA is for "thrust struts," a critical component of the Pratt & Whitney Geared-Turbo-Fan ("GTF") jet engine. The GTF powers the Airbus A-220 (formerly the Bombardier C-Series), the Mitsubishi MRJ, and the Embraer E-2 commercial airliners.

Based on the OEM's forecast, the contract could generate potential sales of approximately $61.7 Million over the five-year term. As is customary with LTA contracts, Air Industries expects to receive sequential firm orders for delivery of product against the Agreement.

Mr. Lou Melluzzo, CEO of Air Industries, commented, 'This Agreement marks a milestone for Air Industries Machining. It is one of the largest single contracts the company has ever received, and from our largest customer. In 2014, AIM developed and engineered the manufacturing processes for this product, and has been producing it for the past five-years. Since the Geared Turbo-Fan engine entered into service, we have produced over 1,200 thrust struts. This new contract is a follow-on renewal of the original five-year contract. With production of the GTF accelerating, our customer is forecasting a significant increase in demand over the next five years. We expect to start shipping this product beginning in the second half of this year.