Press Release

AVX Aircraft Company, L3 Technologies Submit Proposal for U.S. Army’s Future Attack Reconnaissance Aircraft

Companies Offer Revolutionary Attack Reconnaissance Helicopter Enhanced With L3 Technology

BENBROOK, Texas--(BUSINESS WIRE)--Dec. 20, 2018-- AVX Aircraft Company and L3 Technologies (NYSE:LLL) announced today the submission of a joint proposal for the U.S. Army’s Future Attack Reconnaissance Aircraft (FARA) Competitive Prototype program.

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The AVX/L3 solution combines AVX Aircraft’s rich history of coaxial rotor platforms and propulsion systems with L3’s proven products; systems engineering; weapons, sensor and communications systems integration; and full-rate production capabilities to provide the Army with an advanced modular armed reconnaissance and light attack platform.

“The L3/AVX FARA proposal demonstrates our commitment to provide innovative solutions for the Army’s modernization priorities,” said Christopher E. Kubasik, Chairman, Chief Executive Officer and President of L3 Technologies. “Our significant engineering, manufacturing, integration and test capabilities enable us to deliver a cost-efficient and highly capable FARA platform. AVX operates with the same agile and innovative culture as L3, which allows us to successfully collaborate in advancing this revolutionary design into the effective next-generation aircraft the Army seeks.”

“L3’s deep experience in providing cutting-edge capabilities to the U.S. Army and Special Operations communities fits very well with AVX Aircraft’s expertise in clean-sheet helicopter design,” said Troy Gaffey, AVX Aircraft Chairman and CEO. “We look forward to showing the Army that we are the non-traditional solution they are looking for to propel them into the future.”

Scheduled for a production program start in 2024, the FARA aircraft will be an advanced, survivable and lethal solution with unmatched growth potential. The Army has named the FARA as a top modernization priority supported under the service’s new Futures Command structure.

About AVX:

Founded in 2005, and headquartered in Benbrook, Texas, AVX Aircraft Company employs helicopter industry veterans and executives with deep experience across a spectrum of skill sets. AVX has developed and has patented a unique compound helicopter configuration with coaxial rotors and dual ducted fans that combine proven technologies to achieve greater aerodynamic efficiency, speed, range, fuel efficiency, Hover Out of Ground Effect (HOGE) and utility than conventional helicopters. To learn more about AVX, please visit the company’s website at www.avxaircraft.com.

About L3 Technologies:

L3 Technologies is an agile innovator and leading provider of global ISR, communications and networked systems, and electronic systems for military, homeland security and commercial aviation customers. With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2017 sales of $9.6 billion.

To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.

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Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

Source: L3 Technologies

AVX Aircraft Company
Mike Cox
817-899-7522

L3 Technologies
Lance Martin
254-749-5051