Bristow Group to Purchase 7 New Sikorsky Aircraft
DUXFORD, England, Oct. 3 /PRNewswire-FirstCall/ -- Bristow Group Inc. (NYSE: BRS) a leading provider of helicopter services and production management services to the offshore energy industry, and Sikorsky Aircraft Corporation, a subsidiary of United Technologies Corp. (NYSE: UTX), today announced at the 2007 Helitech exhibition that Bristow has exercised options to acquire an additional four S-92(R) helicopters and three S-76C++(TM) helicopters with a combined value of more than $100 million.
The S-92 aircraft are larger helicopters capable of serving oil and gas facilities in the most remote offshore locations around the world. The S-76C++ helicopters are medium-weight aircraft. All seven are expected to be delivered in late 2008.
"These state-of-the-art aircraft will be deployed at a number of locations across our global footprint to help us meet our customers' demand for larger, more modern aircraft to service increasingly remote and harsh-weather offshore facilities," said William E. Chiles, president and chief executive officer of Bristow Group. "This investment is part of an ongoing strategic initiative to upgrade the safety, capabilities and value of our fleet to better serve our customers and to enhance returns for our shareholders," he said.
"Bristow and Sikorsky have enjoyed a strong relationship for many years, and we're extremely pleased that Bristow continues to count on Sikorsky helicopters for some of the toughest missions and in some very demanding environments," said Marc Poland, vice president, Commercial Programs at Sikorsky.
ABOUT BRISTOW GROUP INC.
Bristow Group Inc. is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated. Through its subsidiaries, affiliates and joint ventures, the Company has major transportation operations in the U.S. Gulf of Mexico and the North Sea, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Mexico, Nigeria, Russia and Trinidad. Additionally, the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico. For more information, visit the Company's website at http://www.bristowgroup.com.
ABOUT SIKORSKY AIRCRAFT CORP.
Sikorsky Aircraft Corp., based in Stratford, Connecticut, USA, is a world leader in helicopter design, manufacturing, and service. The company's long commitment to safety and innovation is reflected in its mission statement: "We pioneer flight solutions that bring people home everywhere...every time(TM)." United Technologies Corp., based in Hartford, Conn., USA, provides a broad range of high-technology products and support services to the aerospace and building systems industries.
FORWARD-LOOKING STATEMENTS DISCLOSURE
Statements contained in this news release that state Bristow Group's or Bristow Group management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. These forward-looking statements include statements regarding customer demand, aircraft capability and shareholder returns. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward- looking statements is contained from time to time in Bristow Group's SEC filings, including but not limited to the company's quarterly report on Form 10-Q for the quarter ended June 30, 2007 and annual report on Form 10-K for the year ended March 31, 2007. Bristow Group disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events or otherwise.
Contact: Linda McNeill (713) 267-7622 email@example.com Paul Jackson (203) 386-7143 firstname.lastname@example.org
SOURCE Bristow Group Inc.
Released October 3, 2007