FOR IMMEDIATE RELEASE

DATE: July 18, 2022


Farnborough, UK, July 18th, 2022 Darchem Engineering (Darchem), a company of TransDigm Group and Seal Dynamics, (a HEICO Company, NYSE: HEI, HEI.A) signed an expansion to their distribution agreement on the first day of the Farnborough International Airshow 2022. This further mutual commitment strengthens the distribution partnership of engineered insulation systems on strategic aftermarket parts.

 

The Global Business Development Aerospace and Defence Manager of Darchem, John Hulance and President of Seal Dynamics, George Congionti, signed the agreement at the exhibition in Farnborough.

 

Global Business Development Aerospace and Defence Manager of Darchem, John Hulance welcomes the bolstering of the long standing relationship, "We have partnered with Seal Dynamics for seven years, and they consistently deliver above expectation. I am confident this agreement will further strengthen our relationship with Seal Dynamics and will consolidate our position on the aerospace aftermarket”.

 

George Congionti, President of Seal Dynamics, commented Our relationship with Darchem has strengthened each year. Our complete value proposition is successful on all three fronts as we provide world class distribution services complimented by our ability to technically sell their highly engineered insulation systems and at the same time identify, design and sell new products to meet the needs of our airline and MRO customers. Seal Dynamics is well positioned to strategically support our global customer base, and we are proud to add further Darchem products to our offering.”

 

 

About Darchem Engineering, a TransDigm company

Founded in 1954 and headquartered in Stockton-on-Tees, United Kingdom, Darchem Engineering is an engineering company providing products and engineered solutions to high temperature and thermal engineering problems. It offers high integrity engineered products as well as thermal insulation systems for aerospace, motorsport, marine defense, nuclear and oil and gas applications.

 

About Seal Dynamics, a HEICO Company

Since the company’s founding in 1976, Seal Dynamics has evolved into one of the world’s largest providers of engineering and logistics solutions serving global aviation and OEM industries. Seal Dynamics provides OEM approved replacement parts from the most successful corporations in the industry. In addition, Seal Dynamics provides full-spectrum engineering solutions – from the design and manufacture of custom and FAA/PMA parts to engineered retrofits. Substantial resources, coupled with an experienced team of engineering sales professionals, enable Seal Dynamics to provide products, service, and support that are unmatched in the marketplace.

 

Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements as a result of factors including: lower demand for commercial air travel or airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development costs and delay sales; our ability to make acquisitions and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; economic conditions within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues; and defense budget cuts, which could reduce our defense-related revenue. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission, including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.