Standex awarded contract from Senior Aerospace for Airbus A320 NEO aircraft nacelle components

Standex International Corporation (SXI) 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. 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 $1.6m to $3m per year in 2016 and 2017, increasing to a run rate of more than $7m 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.