CTT Systems, a manufacturer of non-condensation systems for commercial aircraft structures and a provider of humidification products for cockpit, crew rest and cabin areas, has announced the signing of an exclusive marketing agreement with B/E Aerospace. CTT’s board of directors have also given notice to attend an extraordinary shareholders meeting for approval of the board’s resolution of a directed share issue to B/E.
Under the terms and conditions of the agreement, B/E will promote and market CTT’s Zonal Drying and Cair products. B/E has also entered into a Shareholders’ Agreement whereby the two largest shareholders in CTT, Trulscom Förvaltning AB and Volito AB, have undertaken to vote for a directed share issue to B/E Aerospace and to vote for the appointment of a B/E designee to CTT’s board of directors. B/E will own less than 10% of the shares of CTT.
“CTT is enthusiastically convinced that B/E, with its strong brand, skilled sales team and impressive customer footprint in the cabin interior market will leverage our OEM sole-source supplier position for CAIR into the broad retrofit market,” stated Torbjörn Johansson, CEO of CTT. “This, combined with the strong B/E commitment in driving the market for CTT’s Zonal Drying and Cair products and providing access to new segments, such as business jets, will give greater visibility to our products and has the potential to significantly grow our installed base.”
“We are pleased to offer CTT’s complementary and unique products to our customers in an effort to boost airline awareness, increase market penetration and drive sales growth,” added Amin Khoury, Chairman and CEO of B/E Aerospace, Inc. “Many airlines are looking to improve their premium cabin class passenger experience and humidification is a key differentiator.”