Erickson Air-Crane Incorporated (NASDAQ:EAC)(“Erickson” or “the Company”), a leading global provider of aviation services to a diverse mix of commercial and government customers, and the vertically-integrated manufacturer and operator of the powerful heavy-lift Erickson S-64 Aircrane helicopter, announced today that it had received a firm-fixed price contract to provide ship-based and shore-based vertical replenishment and other rotary-wing logistic services to Military Sealift Command, for support of the US 5
fleets, operating primarily in the Pacific and Indian Oceans.
This new contract, which was awarded competitively to Evergreen Helicopters International, a wholly owned subsidiary of the Company, commences on October 1, 2013, has a first year value of $6.8 million and four additional option-year renewals for a cumulative total value of $36.6 million. Work to be performed includes search and rescue support, medical evacuations, passenger transfers, internal cargo movement and dynamic interface testing.
Udo Rieder, Chief Executive Officer of Erickson, commented, “We are pleased to have been selected to provide these important services to the Sealift Command. This new award for Evergreen underlines our growth opportunity and further cements our position as a preferred provider of services for a wide variety of missions in support of Defense Department operations around the world.”
Operations will be based out of Naval Base Guam, with multiple rotorcraft operating around both the Pacific and Indian Oceans. The Company noted that Military Sealift Command’s vertical replenishment (VERTREP) program creates efficiency, enables ships to remain at sea for extended periods, improves safety and elevates mission readiness levels.
About Erickson Air-Crane Incorporated
Erickson Air-Crane Incorporated is a leading global provider of aviation services to a diverse mix of commercial and government customers. The Company currently operates a diverse fleet of 85 rotary-wing and fixed wing aircraft, including a fleet of 20 heavy-lift S-64 Aircranes. This fleet supports a wide and worldwide variety of government and commercial customers, across a broad range of aerial services, including critical supply and logistics for deployed military forces, humanitarian relief, firefighting, timber harvesting, infrastructure construction, and crewing. The Company also maintains a vertical manufacturing capability for the S-64 Aircrane, related components, and other aftermarket support and maintenance, repair, and overhaul services for the Aircrane and other aircraft.