Standex International Corporation today announced that Spincraft, the Company's engineered products metal fabrication business unit, has received a life of program award from Senior Aerospace (SSP) to produce exhaust plug and nozzle components for the nacelle on the Airbus A320 NEO, one of the largest-selling commercial aircrafts in the world. The life of program award is based on active production of both the A320 NEO aircraft and nacelle. Based on current orders and projections for the Aircraft and Nacelle annual sales will be an estimated value of $1.6 million to $3 million per year in 2016 and 2017, increasing to a run rate of more than $7 million annually at full production.

Under the terms of the agreement, Spincraft will produce exhaust plug and nozzle sets, consisting of five individual components, for all the A320 NEO assembly's produced by SSP. SSP production is anticipated to represent up to 100% of the volume requirements on the UTAS Nacelle for the Pratt & Whitney engine version of the aircraft.1 Spincraft was selected for its compelling value proposition for cost and engineered solutions around its core competencies.

“We are excited to announce this new contract with Senior Aerospace for the Airbus A320 NEO, which marks our second major contract win on large-body, single-aisle commercial aircraft,” said Len Paolillo, President of Standex's Engineering Technologies Group. “The contract is also significant as Spincraft continues to provide and expand our involvement in this growing market with engineered solutions, and we look forward to working closely with SSP to help develop solutions to their challenges and supporting the business long term.