ASE Announces New Majority Stockholder.Business Editors ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.--(BUSINESS WIRE)--Sept. 26, 2001 Aero Systems Engineering, Inc. (Nasdaq:AERS AERS Adverse Event Reporting System (database of drug adverse reactions) AERS Association of Educators in Radiological Sciences AERS Army Educational Requirements System AERS Acute Equine Respiratory Syndrome AERS Access/Egress Roadway System ), a worldwide leader in wind tunnel and jet engine testing facilities engineering, announced today that Celsius Inc., a subsidiary of Saab AB, has sold a 51% stock interest in Aero Systems Engineering, Inc. to Minnesota ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Celsius Inc. will retain a 29% stock interest in Aero Systems Engineering, Inc. Minnesota ASE, LLC is a newly formed limited liability company, led by a group of Minnesota investors. Christer Persson, the President of Celsius Inc., said that the stock sale occurred as a result of the restructuring of a number of subsidiaries of Celsius AB due to the acquisition of Celsius AB by Saab AB in March of 2000. The intent to divest certain companies related to the aviation services business such as Aero Systems Engineering, Inc. was made public by Saab AB at the time of the acquisition of Celsius AB. Charles Loux, the President of Aero Systems Engineering, Inc., indicated that he was very pleased with the sale to Minnesota ASE, LLC since it will allow Aero Systems Engineering, Inc. to continue on as an independent entity. Mr. Loux indicated that no management changes were anticipated. Comments regarding the ability of the Company to achieve revenues in the future and other forward-looking statements involve risks and uncertainties, including but not limited to general economic conditions, the condition of the aerospace industry, signing of future contracts, competitive factors and other risks detailed from time to time in the Company's reports to the SEC, including the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year end December 31, 2000. Actual results may vary materially from those anticipated. About Aero Systems Engineering Aero Systems Engineering, Inc. (ASE) is a highly skilled and experienced engineering company, which designs and supplies aerospace test facilities. ASE is a leader in design and construction of engine test cells and wind tunnels for testing aerospace vehicles and propulsion systems. ASE is ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified. Aero Systems Engineering, Inc. common stock is listed on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (sm) under the symbol: AERS. |
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