Aerospace Division Restructures To Accelerate Growth As Global Aerospace Facilities Consolidate Into Pankl Aerospace Systems, Inc. (PANKL RACING SYSTEMS AG).Admiralty Partners Closes Acquisition Of 25% Equity Stake in PARS PARS Names Admiralty's Jon B. Kutler, Chairman And Promotes Sonja Clark To President Of PARS BRUCK UPON MUR Mur (m  r), Hung., Slovenian, and Croatian Mura (m `rä), river, c. , Austria -- The management board of Pankl Racing Systems AG (PARS) (FWB (Fixed Wireless Broadband) See fixed wireless. :PKL PKL Pedagang Kaki LimaPKL Philippine Karatedo League PKL Package List ) announced today the final results of its restructuring plan for its aerospace division. The key element of this plan is the spin out of its aerospace business units as a stand-alone company stand-alone company An independent operating firm. For example, a large diversified firm may consider spinning off a subsidiary because, as a stand-alone company, the subsidiary would command a higher price-earnings ratio than the parent. . Through this effort, the newly formed Pankl Aerospace Systems, Inc., (PAS) will receive the financial resources and management focus required to make it more responsive to customer needs and accelerate growth during a period of rapid expansion in the global aerospace and defense markets. The Cerritos, California (USA) and the Kapfenberg (Austria) aerospace production facilities of PARS will now be consolidated into Pankl Aerospace Systems, Inc. The combined facilities are leading providers of range of products for aerospace and defense markets including helicopter main and rear rotor drive shafts; in-air refuelling re·fu·el v. re·fu·eled also re·fu·elled, re·fu·el·ing also re·fu·el·ling, re·fu·els also re·fu·els v.tr. To supply again with fuel. v.intr. system components; and jet engine shafts. With the closing of today's investment, PAS is now owned 75% by PARS and 25% by US private investment firm Admiralty Partners, Inc. PAS is also pleased to announce that Jon B. Kutler, Chairman of Admiralty, has agreed to serve as Chairman of PAS. With over three decades of experience in PAS markets as a naval officer, Wall Street investment banker and investor, Kutler is a well-known industry specialist with intimate knowledge of the global aerospace and defense sectors. In addition, Ms. Sonja Clark, previously the marketing manager of the Cerritos production facility, has been promoted to President of the newly formed PAS. Ms. Clark is an Austrian citizen living in California who joined the Pankl Group in 2003 combining 12 years of experience in the international aerospace business. About Admiralty Partners: Admiralty Partners, Inc., is a Los Angeles, California based private investment firm focused exclusively on acquiring companies in the global aerospace, defense and federal information technology industries. Its Chief Executive Officer, Jon B. Kutler, previously founded Quarterdeck (Quarterdeck Corporation, Marina del Rey, CA) A pioneering software company, founded in 1983, that offered a variety of utilities, diagnostics, connectivity and Internet products for the PC and Macintosh. Investment Partners, a leading merger & acquisition advisory firm in these sectors, and subsequently sold it to Jefferies & Company, Inc. (NYSE NYSE See: New York Stock Exchange :JEF JEF Jefferies Group, Inc. (stock symbol) JEF Junge Europäische Föderalisten (German: Young European Federalists) JEF Joint Educational Facilities, Inc. ). For more information visit www.admiraltypartners.com Disclaimer: The information contained in this press release is intended solely for the attention and use of addressees within the territory of the USA. If you are not an intended recipient, or a person responsible for delivering it to an intended recipient, you are not authorised to and must not disclose, copy, distribute, or retain this message or any part of it. |
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