Breeze-Eastern Corporation designs, develops, manufactures, sells, and services engineered mission equipment for specialty aerospace and defense applications. The company operates as a designer, manufacturer, service provider, and supplier of rescue hoists and cargo hook systems. The company also manufactures weapons handling systems, cargo winches, and tie-down equipment. These products are sold primarily to military and civilian agencies and aerospace contractors. The company sells its products through internal marketing representatives and independent sales representatives and distributors. The company develops helicopter hoist and winch systems, including systems for the current generation of Sikorsky H-60 Blackhawk and Naval Hawk, CH-53K, King Stallion, Bell-Boeing V-22 Osprey, Boeing CH-47 Chinook, Eurocopter Ecureuil, Dolphin, EH-101 Merlin/Cormorant, Changhe Z-11, Agusta Westland A-W109, AW119 and AW139 helicopters. The company also designs, markets, sells and services a line of hydraulic and electric aircraft cargo winch systems with capacities from 900 pounds to approximately 7,000 pounds. The company’s external cargo hook systems are original equipment on military medium and heavy lift helicopters. Its designs incorporate load sensing and display technology and automatic load release features. The company also manufactures cargo and aircraft tie-downs, which are included in this product line. The company makes static-line retrieval and cargo winches for military cargo aircraft, including the Boeing C-17, Alenia C-27J, CASA CN-235, CASA C-295, and Airbus A400M. The company’s weapons handling systems include weapons handling equipment for land-based rocket launchers and munitions hoists for loading missiles and other loads using electric power or exchangeable battery packs. It supplies this equipment for the United States, Japanese, and European Multiple-Launch Rocket Systems (MLRS) and the United States High Mobility Artillery Rocket System (HIMARS). The company also provides actuators and specialty gear boxes for specialty weapons applications. Services The company performs overhaul, repair, and maintenance services for all of its products. Most of these services are performed at the company’s Whippany, New Jersey facility. The company has also licensed third-party service centers around the world to perform these services. In addition to performing research and development to design new products, improve existing products, and add new features to its product line, the company provides engineering services to adapt its products to customer specific needs and aircraft models on a fee-for-service basis. Major Customers The company has three major customers: the U.S. Government, United Technologies Corporation, and Finmeccanica SpA, which accounted for 30%, 14%, and 13%, respectively, of the total consolidated net sales for fiscal 2014. Seasonality The company’s revenues in the second half of its fiscal year have generally exceeded revenues in the first half. The timing of U.S. Government awards, availability of U.S. Government funding, and product deliveries are among the factors affecting the periods in which revenues are recorded. Competition The company competes in some markets with the hoist and winch business unit of the Goodrich Corporation. It also competes in some markets for cargo hooks with Onboard Systems. Research and Development The company’s research and development costs, which are charged to engineering expense when incurred, amounted to $6,916 for the year ended March 31, 2014. Regulatory Matters Aircraft Regulation In the United States, the company’s commercial aircraft products are required to comply with Federal Aviation Administration regulations governing production and quality systems, airworthiness and installation approvals, repair procedures and continuing operational safety. Internationally, similar requirements exist for airworthiness, installation and operational approvals. These requirements are generally administered by the national aviation authorities of each country and, in the case of Europe, coordinated by the European Aviation Safety Agency (EASA). Environmental Matters At various times, the company has been identified as a potentially responsible party pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), and analogous state environmental laws, for the cleanup of contamination resulting from past disposals of hazardous wastes at certain former facilities and at sites to which it, among others, sent wastes in the past. History Breeze-Eastern Corporation was founded in 1962 as a California corporation.
breeze-eastern corp (BZC:NYSE Amex)
35 Melanie Lane
Whippany, NJ 07981
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