VALENCIA, Calif., Nov. 07, 2016 (GLOBE NEWSWIRE) -- Wesco Aircraft Holdings, Inc. (NYSE:WAIR), the world’s leading provider of comprehensive supply chain management services to the global aerospace industry, today announced a multi-year agreement to provide chemical management services with Science Applications International Corporation (SAIC), a premier technology integrator in the technical, engineering, intelligence and enterprise information technology markets. This subcontract replaces the company’s previous agreement with SAIC.
Under the new subcontract agreement, Wesco Aircraft will provide chemicals and packaged petroleum, oils and lubricants, as well as third-party logistics, to support SAIC’s recently awarded prime contract with the Defense Logistics Agency.
In addition to this latest subcontract agreement, Wesco Aircraft supports a number of other SAIC programs, providing hardware for U.S. military end-users.
Dave Castagnola, Wesco’s president and chief executive officer, said, “The relationship between Wesco and SAIC spans nearly two decades, and we greatly appreciate the trust and confidence this valued customer continues to place with us. Our agreement with SAIC reflects Wesco’s value proposition and further bolsters our position as one of the world’s largest providers of integrated supply chain management services to top-tier companies serving the global aerospace and defense industries. I believe Wesco is uniquely positioned to provide chemical management services with the expertise, chemical distribution infrastructure and state-of-the-art chemical lifecycle management platform to help customers manage this complex portion of their supply chain.”
About Wesco Aircraft
Wesco Aircraft is the world’s leading distributor and provider of comprehensive supply chain management services to the global aerospace industry, based on annual sales. The company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery and point-of-use inventory management. The company believes it offers one of the world’s broadest portfolios of aerospace products, including chemical, electrical and C-class hardware and comprised of more than 565,000 active SKUs.
To learn more about Wesco Aircraft, visit our website at www.wescoair.com. Follow Wesco Aircraft on LinkedIn at https://www.linkedin.com/company/wesco-aircraft-corp.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future, not past, events and are subject to risks and uncertainties. The forward-looking statements, which address the company's expected business and financial performance and financial condition, among other matters, contain words such as: “believe,” “continue,” “provide,” “will” or similar words, phrases or expressions. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the company’s control. Therefore, the reader should not place undue reliance on such statements.
Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about expected business outcomes and growth. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: general economic and industry conditions; conditions in the credit markets; changes in military spending; risks unique to suppliers of equipment and services to the U.S. government; risks associated with the company’s long-term, fixed-price agreements that have no guarantee of future sales volumes; risks associated with the loss of significant customers, a material reduction in purchase orders by significant customers or the delay, scaling back or elimination of significant programs on which the company relies; the company’s ability to effectively compete in its industry; the company’s ability to effectively manage its inventory; the company’s ability to fully integrate the acquired business of Haas and to realize anticipated benefits of the combined operations; risks relating to unanticipated costs of integration; the company’s suppliers’ ability to provide it with the products the company sells in a timely manner, in adequate quantities and/or at a reasonable cost; the company’s ability to maintain effective information technology systems; risks associated with the company’s international operations, including exposure to foreign currency movements; environmental risks; risks related to the handling, transportation and storage of chemical products; risks related to the aerospace industry and the regulation thereof; and other risks and uncertainties.
The foregoing list of factors is not exhaustive. The reader should carefully consider the foregoing factors and the other risks and uncertainties that affect the company’s business, including those described in Wesco Aircraft’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed from time to time with the Securities and Exchange Commission. These or other uncertainties may cause the company’s actual future results to be materially different than those expressed in any forward-looking statements. The company undertakes no obligation to update or revise any forward-looking statements.