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

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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.

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by RTT Staff Writer

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