UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 22, 2020
(Exact Name of Registrant as Specified in its Charter)
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of Principal Executive Offices) (Zip Code)
(212 ) 798-6100
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to
use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class:
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Trading Symbol:
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Name of each exchange on which registered:
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| Item 8.01. |
Other Events.
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On October 22, 2020, Fortress Transportation and Infrastructure Investors LLC (NYSE: FTAI; the “Company”) issued a joint press release announcing the Company’s agreement
with Lockheed Martin (NYSE: LMT) Commercial Engine Solutions (“LMCES”) to establish The Module FactoryTM, a dedicated commercial engine maintenance center focused on modular repair and refurbishment of CFM56-7B and CFM56-5B engines. The
Module Factory will be based at LMCES’ 500,000 square foot facility in Montreal, Canada with a capacity for up to 300 shop visits per year. The initial term of the collaboration is seven years with an option to extend. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 8.01.
| Item 9.01 |
Financial Statements and Exhibits.
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(d) Exhibits.
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Exhibit
Number
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Description
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Press release, dated October 22, 2020, issued by Fortress Transportation and Infrastructure Investors LLC
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104
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Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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FORTRESS TRANSPORTATION AND INFRASTRUCTURE INVESTORS LLC
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By:
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/s/ Eun Nam
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Name:
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Eun Nam
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Title:
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Chief Accounting Officer
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Date: October 22, 2020
Exhibit 99.1
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NEW YORK, October 22, 2020 (GLOBE
NEWSWIRE) – Fortress Transportation and Infrastructure Investors LLC (NYSE: FTAI) and Lockheed Martin (NYSE: LMT) Commercial Engine Solutions (“LMCES”) announce an agreement to establish The Module FactoryTM, a dedicated commercial
engine maintenance center focused on modular repair and refurbishment of CFM56-7B and CFM56-5B engines. The Module Factory will be based at LMCES’ 500,000 square foot facility in Montreal, Canada with a capacity for up to 300 shop visits per
year. FTAI owns approximately 150 CFM56 engines today with plans to acquire up to 70 additional CFM56 engines by year-end. The initial term of the collaboration is seven years with an option to extend.
“We are proud to collaborate with Lockheed Martin on this innovative endeavor. Lockheed Martin has a long and proven history in aviation, and
together we can offer an alternative cost-saving product to the aviation aftermarket. We believe The Module Factory, combined with our proprietary products and partnerships, will solidify FTAI’s position to offer the lowest cost per cycle
solution to our airline customers.” said Joe Adams, FTAI’s Chairman and Chief Executive Officer.
“At Lockheed Martin, providing full life-cycle engine maintenance, repair and overhaul is an integral part of our Sustainment business. Commercial Engine Solutions (LMCES) is excited to partner
with FTAI in bringing The Module Factory solution to the market. Results will be reduced engine turn times, increased asset availability and the lowest possible cost for airline customers.” said Jack Turnbill, President of LMCES.
About Fortress Transportation and Infrastructure Investors LLC
Fortress Transportation and Infrastructure Investors LLC (NYSE: FTAI) owns and acquires high quality infrastructure and equipment that is
essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an
affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin (NYSE: LMT) is a global security and aerospace company that employs approximately 110,000
people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com. Please follow @LMNews on Twitter for the latest announcements and
news across the corporation.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the agreement to establish The Module Factory, FTAI’s plans to acquire 70 additional engines by year-end and the ability to reduce engine turn times, increase asset availability and provide the lowest possible cost for airline customers. These statements
are based on each of FTAI and LMT management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking
statements, many of which are beyond FTAI’s and LMT’s control. FTAI and LMT can give no assurance that each of its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any
forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” in FTAI’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company’s website (www.ftandi.com), and any relevant reports prepared by LMT. In addition, new risks and uncertainties emerge from time to time, and
it is not possible for FTAI or LMT to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date
of this press release. FTAI and LMT expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with regard thereto or change
in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.