This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Erickson Air-Crane Announces Largest Contract To Date Supporting Australian National Aerial Firefighting Centre (NAFC)

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, has announced the signing of a new, multi-year aerial firefighting contract to support National Aerial Firefighting Centre (“NAFC”) operations in Australia. The Company noted that this was its largest Australian firefighting contract to date, calling for the provision of six Aircrane helicopters, with the option for additional aircraft as needed, based on fire conditions and pending aircraft availability.

Udo Rieder, Chief Executive Officer of Erickson, commented, “Erickson has been saving lives and resources fighting fires in Australia for 16 years. This new contract represents an important continuation of our relationship with the NAFC, one of the world’s leading practitioners of aerial firefighting. We’re proud to maintain a deep and established presence in Australia with this contract, and believe that the NAFC’s ongoing commitment to Erickson reflects our excellent track record, high standard of service, and cost-effective solution. Our newest partner in the region, Kestrel Aviation – with whom we’re teaming to provide the full range of diversified aerial support – is an established helicopter company with deep experience fighting fire in the rugged Australian environment.”

The contract is for three years with two optional one-year extensions, with a total value of approximately $60 million. Erickson will provide six S-64 Aircrane helicopters, 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. Initially, two Aircranes will be stationed in Victoria, two in New South Wales, one in South Australia, and one in Western Australia. The Company noted that this contract is key to the global, seasonal optimization of its firefighting operations. Erickson is able to mitigate seasonality in this key market by procuring long term agreements in the alternating northern and southern hemisphere fire seasons.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs