Honeywell TIGER Program Extended With the U.S. Army; Total Contract Value More Than $1.5 Billion

Published on Thursday, 29 July 2010 16:32 Written by TradersHuddle Staff

TIGER Program Provides Cost-Effective, Long-Term Sustainment on M1 Abrams' AGT1500 Engines

PHOENIX, July 29 /PRNewswire-FirstCall/ -- Honeywell (NYSE: HON) announced today its Total InteGrated Engine Revitalization (TIGER) program with the U.S. Army has been extended through Option Year 5, with a Not-To-Exceed value of $190 million, bringing the total contract value to more than $1.5 billion since the original contract award.

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"The TIGER program is more than just parts and logistics services for the AGT1500 gas turbine engine that powers the M1 Abrams family of vehicles, it is a continuous improvement program addressing both the durability of the engine and operating and support costs," said Paul Vidano, vice president of Militaries & Operators, Honeywell Aerospace.

The Abrams TIGER program is an example of successful Government and industry teaming. The program encompasses parts, engineering, depot and field support services, enabling Anniston Army Depot (ANAD) to reset an additional 505 AGT1500 engines and perform sustainment repairs on up to 90 engines using a Condition-Based Overhaul (CBO) process.

Under the TIGER program, the AGT1500 engine configuration, field use and maintenance history is tracked and evaluated so that depot maintenance can be performed based on the evidence-of-need rather than traditional complete overhaul practices.

The TIGER program has proven to be highly effective in forecast planning and ordering, warehousing, part kitting and point-of-use delivery, and ensuring a consistent supply of quality parts to meet Anniston Army Depot's engine R&O schedule.  Engineering support, field repair support, data collection and analysis, and program management are also included in the TIGER program.

Additional Honeywell equipment on the M1 Abrams includes engine controls, navigation, generator and controls.

Based in Phoenix, Arizona, Honeywell's aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.

Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges.  For more news and information on Honeywell, please visit www.honeywellnow.com.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.

SOURCE Honeywell