Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Honeywell Signs $2.8 Bln Contract To Supply Avionics Systems To Embraer

RELATED NEWS
Trade HON now with 

Diversified conglomerate Honeywell International Inc. (HON: Quote) said Monday that it has won a contract worth $2.8 billion over its lifetime from Brazilian plane maker Embraer SA (ERJ: Quote) to provide Primus Epic as the integrated avionics system for the second generation of Embraer's E-Jet aircraft family. The contract includes OEM and aftermarket service.

New Jersey-based Honeywell, the world's largest maker of airplane cockpit controls, noted that the avionics can include navigation, communications and display systems in the cockpit.

Primus Epic integrates these systems into a compact offering and adds technologies such as synthetic vision and advanced flight management for better situational awareness and more fuel-efficient, direct approaches at airports.

The second generation of Embraer E-Jets equipped with Primus Epic are anticipated to enter service in 2018, with the program expected to launch later this year. Honeywell and Embraer have been working together on a variety of products and services for the past 25 years.

Honeywell noted that Primus Epic already has 9 million flight hours to date on E-Jets and boasts commonality with the current generation of fielded aircraft, thus enabling a smooth transition to the new platform.

Further, Honeywell said that the software-based avionics will enable Embraer to easily and effectively integrate future communication, navigation and air traffic management systems.

Separately, Embraer said it delivered a total of 106 commercial jets and 99 executive jets in 2012, and ended the year with a $12.5 billion backlog. The executive jets include 77 light jets and 22 large jets.

In 2013, Embraer expects to deliver 90 to 95 commercial jets, 80 to 90 light executive jets and 25 to 30 large executive jets. Therefore, the company expects to achieve total net revenues for the year between $5.9 billion and $6.4 billion. Analysts expect the company to report revenues for the year of $6.25 billion.

Embraer will announce its financial results for the fourth quarter and fiscal 2012 on March 22.

HON closed Monday's trading at $68.56, down $0.59 or 0.85 percent on a volume of 3.03 million shares.

Register
To receive FREE breaking news email alerts for Honeywell International Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
With trading resuming following the long, holiday weekend, stocks showed a lack of direction throughout the trading session on Tuesday before ending the day mixed. The markets largely held on to the bulk of their recent gains. The Islamic State (IS), a Sunni extremist group previously known as Islamic State of Iraq and the Levant (ISIL), has released a video purporting to show the beheading of US journalist Steven Sotloff, media reports said Tuesday. According to reports, the video also showed a masked man threatening to execute a British man named David Haines. He also warned governments to stay away "this evil allian Less than a month after resigning from Congress, former House Majority Leader Eric Cantor, R-Virg., has made the move from Washington to Wall Street by joining boutique investment bank Moelis & Co. A statement from Moelis said Cantor will serve as Vice Chairman and Managing Director and also be elected to the company's Board of Directors.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.