Breeze-Eastern Corp. (NYSE Amex: BZC) announced that its President and CEO Mike Harlan, joined by members of Breeze-Eastern's Board of Directors and Leadership Team, will ring the opening bell at the New York Stock Exchange on Thursday, August 12, 2010, to commemorate completion of the relocation of the company's headquarters and operations to its new facility in Whippany, NJ. After over 50 years in its Union, NJ facility, this relocation is part of a revitalization of the company that includes:
"Our earnings in recent quarters have been reduced by the expenses of our relocation and by heavy new product development spending, which we see as excellent investments in our future. We're pleased that our move is completed and we're starting to get the efficiency benefits of being in our new facility. The engineering we're doing now for AgustaWestland, Airbus, Alenia, Boeing, Sikorsky, Eurocopter, General Atomics, and other customers will lead to hundreds of millions of dollars of revenue over the next 30 plus years. And we're using Lean and better information systems to streamline our manufacturing and business processes, so that they are faster and more cost-effective. We're very focused on doing an excellent job for our customers and increasing our enterprise value."Mr. Harlan concluded "We're proud to be listed on the most important stock exchange in the world. The liquidity it creates and the confidence that it gives our investors can't be matched anywhere else. We value our partnership with the New York Stock Exchange and appreciate their inviting us to celebrate our milestone by ringing the opening bell today." Breeze-Eastern Corporation ( http://www.breeze-eastern.com) is the world’s leading designer and manufacturer of high performance lifting and pulling devices for helicopters, military cargo aircraft, and other aerospace/defense platforms, including rescue hoists, winches and cargo hooks, and weapons-lifting systems. The Company, which employs approximately 170 people at its facilities in Whippany, New Jersey, reported sales of $69.0 million for the Fiscal year ended March 31, 2010. INFORMATION ABOUT FORWARD-LOOKING STATEMENTS Certain statements in this press release constitute “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the "Acts"). Any statements contained herein that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements in this press release are based on current beliefs, estimates and assumptions concerning the operations, future results, and prospects of the Company. As actual operations and results may materially differ from those assumed in forward-looking statements, there is no assurance that forward-looking statements will prove to be accurate. Forward-looking statements are subject to the safe harbors created in the Acts. Any number of factors could affect future operations and results, including, without limitation, competition from other companies; changes in applicable laws, rules, and regulations affecting the Company in the locations in which it conducts its business; interest rate trends; a decrease in the United States government defense spending, changes in spending allocation or the termination, postponement, or failure to fund one or more significant contracts by the United States government or other customers; determination by the Company to dispose of or acquire additional assets; general industry and economic conditions; events impacting the U.S. and world financial markets and economies; and those specific risks that are discussed in the Company’s previously-filed Annual Report on Form 10-K for the Fiscal year ended March 31, 2009 and quarterly report on Form 10-Q for the period ended December 27, 2009. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information or future events.