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 has signed a contract with Los Angeles County. The contract, which has an annual value of approximately $2.7 million, is for the provision of aerial firefighting services and standby availability, along with the personnel, equipment, tools, material, maintenance, and supervision necessary to support operations.
The three-year agreement includes two optional years thereafter, and is for wildland firefighting during a 120-day service period which was scheduled to begin August 15 th, 2013. The company noted that, due to extreme fire conditions and the subsequent potential for devastating wildfires, Erickson has honored requests by both LA County and the US Forest Service to provide early starts to several helitanker contracts.
The greater Los Angeles area is one of the most populous and high-value regions in the United States, but also one of the most fire-prone. Udo Rieder, Chief Executive Officer of Erickson, commented, “Los Angeles firefighting agencies are among the very best in the world. Erickson is proud to partner with Los Angeles County – an acknowledged leader and innovator in the firefighting field – to save lives and resources.”
Erickson will provide one S-64 helicopter equipped with the Company’s proprietary, 2,650-gallon fire suppression system, a detachable water tank with multiple refill options and eight coverage levels for targeted fire suppression. Van Nuys airport will serve as the staging area for the S-64 helitanker, as well as an additional S-64 stationed for urban firefighting on a contract with Los Angeles City, both of which will be available for fire suppression efforts at all times during the contractual service periods.Los Angeles County Fire Chief Daryl L. Osby added, “The Los Angeles County Fire Department is pleased to have secured its second five-year lease agreement with Erickson, as both the fire department and the residents we serve value the exemplary service and commitment to excellence that makes Erickson a leader in aerial firefighting services.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV