ERICKSON INC
PORTLAND, Ore., March 18, 2016 (GLOBE NEWSWIRE) -- Erickson Incorporated (NASDAQ:EAC), a leading global provider of aviation services, has been selected as a subcontractor by a pool of prime contractors that have been awarded two Multiple Award Indefinite Delivery/Indefinite Quantity (MAIDIQ) contracts for Counter Narcotics and Global Threats (CN>) operations, logistics and training support. These contract vehicles allow Erickson to bid on specific task orders, supporting the interdiction of the narcotics trade and assisting in the global war on terrorism.
The first contract is for CN> Operations and Logistics support, for which Erickson anticipates providing aerial fixed and rotary-wing transportation services of cargo and passengers, as well as maintenance services. This contract has a combined ceiling value of $975 million. The second contract is for CN> Training Support Services and has a combined ceiling value of $450 million. Work on both contracts will be performed in the United States and internationally and is expected to be completed over the next nine years by February 2025.
Erickson will bid on task orders requesting aviation maintenance and training services. CN> contract vehicles are designed to improve the United States and partner nation agency organizations’ capabilities to deter threats posed by illegal drugs, trafficking, piracy, transnational organized crime, threat finance networks and any potential nexus among these activities.
“The Counter-Narcoterrorism Technology Program Office (CNTPO) has an established contract support process for the U.S. and our allies to combat a variety of threats,” said Brian Pierson, Vice President of Global Defense and Security at Erickson. “Erickson is proud to serve CNTPO and has more than 40 years of experience in operations and services to support the most difficult challenges facing our nation and allies. We are excited to be a part of this limited consortium tasked to be part of these two major contract vehicles.”
About Erickson
Erickson is a leading global provider of aviation services and operates, maintains and manufactures utility aircraft to safely transport and place people and cargo around the world. The Company is self-reliant, multifaceted and operates in remote locations under challenging conditions specializing in Global Defense and Security, Manufacturing and MRO, and Commercial Services (comprised of firefighting, HVAC, power line, construction, timber harvesting, oil and gas and specialty lift). With roots dating back to 1960, Erickson operates a fleet of approximately 80 aircraft, is headquartered in Portland, Oregon, USA, and operates in North America, South America, Europe, the Middle East, Africa, Asia Pacific, and Australia. For more information, please visit our new website at www.ericksoninc.com.
This press release contains certain statements relating to future results (including, without limitation, “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict”), which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including certain other risks or uncertainties more fully described under the heading “Risk Factors” in our most recently filed Annual Report on Form 10-K as well as in the other reports we file with the SEC from time to time, which are available at the SEC’s web site located at http://www.sec.gov. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact Bobby Lambrix - Media requests (503) 505-5885, blambrix@ericksoninc.com Zachary Cotner - Investor Relations (503) 505-5804, zcotner@ericksoninc.com
