Breeze-Eastern Corporation designs, develops, manufactures, sells, and services engineered mission equipment for specialty aerospace and defense applications. The company is a designer, manufacturer, service provider, and supplier of mission-critical rescue hoists worldwide. It also manufactures weapons-handling systems, cargo winches, cargo hook systems, and tie-down equipment. The company’s products are used to complete rescue operations and military insertion/extraction operations, move and transport cargo, and load weapons onto aircraft and ground-based launching systems. These products are sold primarily to military and civilian agencies and aerospace contractors. The company sells its products through internal marketing representatives and distributors. Products 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, Airbus Helicopter Ecureuil, Dolphin, AgustaWestland AW-101 Merlin/Cormorant, Changhe Z-11, AgustaWestland 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 leading military medium and heavy lift helicopters. These hook systems range from smaller 1,000-pound capacity models up to the major 36,000-pound capacity hooks employed on the Sikorsky CH-53 Super Stallion helicopter. The company’s new 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. 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. Majority of these services are performed at its Whippany, New Jersey facility. The company has also authorized third-party service centers worldwide to perform these services. In addition to performing research and development to design new products, improve existing products, and add new features to the company’s product line, it provides engineering services to adapt its products to customer specific needs and aircraft models on a fee-for-service basis. Customers The company has four major customers, such as the U.S. Government, United Technologies Corporation, Airbus Defense & Space, and Finmeccanica SpA, which accounted for 19%, 16%, 16%, and 12%, respectively, of the total consolidated net sales for the year ended March 31, 2015. Research and Development The company’s research and development costs, which were charged to engineering expense when incurred, amounted to $5,344 for the year ended March 31, 2015. 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. 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; and analogous state environmental laws, for the cleanup of contamination resulting from past releases of hazardous substances at certain former facilities and at sites to which the company, among others, sent wastes in the past. Competition The company competes in some markets for cargo hooks with Onboard Systems. History Breeze-Eastern Corporation, a Delaware corporation, was founded in 1962.
(BZC:Consolidated issues listed on NYSE MKT LLC)
35 Melanie Lane
Whippany, NJ 07981
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