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May 15, 2015, 8:24 am EDT

Standex Awarded Contract from Airbus for A320neo Aircraft

SALEM, N.H.--(BUSINESS WIRE)--Standex International Corporation (NYSE:SXI) today announced that Spincraft, the Company’s engineered products metal fabrication business unit in its Engineering Technologies Group, has received a long-term contract from Airbus to produce single-piece lipskins for the nacelles on the Airbus A320neo, one of the largest-selling commercial aircrafts in the world. The contract, which runs through 2021, represents Spincraft’s second major award for the A320 neo program following last year's announcement of the award for the geared turbo fan engine. Under the terms of the agreement, Spincraft will produce single-piece spun and machined lipskins for 750 A320neo aircraft. The lipskins will be included in the aircraft’s CFM International LEAP-X engine option. Program development of the lip is expected to begin in early 2015, with the initial delivery scheduled for 2016.¹