Beit Shemesh Engines has signed a framework agreement for the development and production of advanced engine parts

Beit Shemesh Engines has signed a framework agreement for the development and production of advanced engine parts, with its existing customer, a leading aerospace engine parts manufacturer in Europe. The company estimates the customer's engine life period to be at least 21 years. From here, Beit Shemesh derives expected revenues of about $ 45 million with the potential to increase them to about $ 58 million.
This is an existing and strategic customer of the company, and according to Beit Shemesh Engines, "the engagement is an important step in the group's entry into a new engine program as part of the project and increased activity with the customer."
Beit Shemesh Engines closed the first quarter of 2021 with a 48% decrease in sales, which amounted to about $ 28 million, compared to about $ 49 million in the corresponding quarter last year. The operating loss amounted to about $ 1 million, compared to about $ 4.8 million, EBITDA was about $ 1.4 million compared to about $ 6.6 million and the company made a loss of about $ 963,000, compared to a profit of about $ 3.7 million A year earlier.