Air Industries Senior Executive Appointed as President of New Welding Metallurgy Subsidiary.BAY SHORE, N.Y. -- Air Industries Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AIRI AIRI Atomic Industry Research Institute ) (the "Company"), a holding company established to consolidate manufacturers, engineering integrators and specialized service providers to the aerospace/defense industry, today announced that Gary Settoducato has been appointed as President of its new Welding Metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with , Inc. subsidiary. Prior to this appointment, Mr. Settoducato had been a senior executive of Air Industries Machining Corp., the Company's primary operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. which forms the basis of its Contract Manufacturing Platform. Welding Metallurgy was acquired by Air Industries Group on August 27, 2007, to establish the Welding and Fabrication fabrication (fab´rikā´sh n the construction or making of a restoration. Platform. "Welding Metallurgy is integral to our long term, synergistic growth strategy, and we are very pleased to have Gary, a proven industry veteran, lead this platform company for us," said Peter Rettaliata, Chief Executive Office of Air Industries Group. "Gary has thoroughly gained my respect during the tenure in which we worked alongside one another at Grumman Corp. as well as for nearly fifteen years at Air Industries. He has the perfect combination of manufacturing, information systems and customer development skills necessary to elevate our comprehensive integration services capabilities." "The addition of Welding Metallurgy to the Air Industries Group allows us to provide a broader range of products to our customers, and strengthens our position as a burgeoning integration partner to aerospace prime contractors," said Mr. Settoducato. "As a result, we will become a more important link in the supply chain, and capable of capturing a larger share of the market from select customers. As a member of the Air Industries Group, Welding Metallurgy is poised for growth in today's strong aerospace market." Gary Settoducato is an aerospace industry veteran of over 23 years, including nearly 14 years with Air Industries. Beginning his career in the prestigious Grumman Aerospace Corporation PROFIT Program (Procurement Related Opportunities From Instructional Training), he has a proven track record of procurement and long-term contract administration for major military and commercial aircraft and heavy machinery programs. From middle management to executive level positions, Mr. Settoducato has amassed significant expertise in international offset negotiations, and development of information systems relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc supplier management/analysis, business and finance reporting, and manufacturing and regulatory compliance. At Air Industries, his primary responsibilities have included procurement management and program management, including the Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Post-Production Spares Alliance, under which all machined spare components and assemblies for Northrop Grumman heritage aircraft were provided by Air Industries. This program has been extremely successful, and as a result was extended from its original contract period. A graduate of the CW Post Center of Long Island University (LIU LIU Linköpings Universitet (Sweden) LIU Long Island University (New York) LIU Line Interface Unit LIU Lightguide Interconnection Unit (AT&T) LIU Laugh It Up ), summa cum laude sum·ma cum lau·de adv. & adj. With the greatest honor. Used to express the highest academic distinction: graduated summa cum laude; a summa cum laude graduate. , with a dual major in management and marketing, he was the first graduate of the School of Business to be selected as Valedictorian in the school's history. Business and industry certifications and training include Six Sigma Not to be confused with Sigma 6. Six Sigma is a set of practices originally developed by Motorola to systematically improve processes by eliminating defects.[1] A defect is defined as nonconformity of a product or service to its specifications. , ITAR (International Traffic in Arms Regulations) U.S. State Department regulations that govern the export of restricted technology to foreign states other than Canada. Regulations, and U.S. Export Controls (U.S. Department of Commerce). Welding Metallurgy is a metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. engineering and welding services provider and manufacturer based in West Babylon, Long Island, NY. Founded in 1979, Welding Metallurgy stands as one of the premiere suppliers of welded assemblies for the aerospace and other industrial sectors, and also performs custom tube bending, sheet metal fabrication, and precision assembly. Although specialty welding is its primary service, the company also provides manufactured components for various sub-sectors of the commercial and military aerospace industries for over 20 years. These components include manifold and torque tubes, tube and duct assemblies, tank assemblies, structural assemblies and acoustic muffler muffler, in automobiles, device designed to reduce the noise from the exhaust of an internal-combustion engine. When the exhaust gases from an internal-combustion engine are released directly into the atmosphere, they create a loud noise, caused by the passage of the assemblies. Welding Metallurgy's staff of 25 employees maintains a thorough knowledge of many aircraft platforms. Current customers of Welding Metallurgy include Northrop Grumman's Florida and Bethpage units, Boeing Helicopter's Philadelphia, Pennsylvania unit, and Middle River Aircraft Systems of Baltimore, Maryland "Baltimore" redirects here. For the surrounding county, see Baltimore County, Maryland. For other uses, see Baltimore (disambiguation). Baltimore is an independent city located in the state of Maryland in the United States. , among others. ABOUT AIR INDUSTRIES GROUP, INC. Air Industries Group, Inc. (OTCBB: AIRI) (formerly Gales Industries) is a holding company established to consolidate manufacturers, engineering integrators and specialized service providers to the aerospace/defense and commercial aviation industries. The Company is focused on flight safety and other critical componentry. Consolidation opportunities include companies operating within highly synergistic disciplines of manufacturing, technical services and strategic products distribution. The Company's strategy is to execute its consolidation principally amongst middle market aerospace/defense subcontractors. Air Industries Group offers a tailored exit strategy or management continuity strategy in exchange for qualified acquisitions, and targets technically superior organizations with revenues of up to $100 million annually. Information on the Company and its products may be found online at www.airindmc.com. Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from liability established by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. In particular, the Company's statements regarding trends in the marketplace, firm backlog, projected backlog, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates, projections and forecasts made by management with respect to the Company's critical accounting policies, firm backlog, projected backlog, regulatory delays, government funding and budgets, matters pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to potential and pending acquisitions subject to and after closings, and other factors, including results of financial audits and general economic conditions, not within the Company's control. Certain of the Company's forward looking statements, with the projected backlog in particular, are formulated based on management's extensive industry experience and understanding and assessment of industry trends, customer requirements, and related government spending Government spending or government expenditure consists of government purchases, which can be financed by seigniorage, taxes, or government borrowing. It is considered to be one of the major components of gross domestic product. . Projected backlog may be subject to variability and may increase or decrease at any time based on a variety of factors, including but not limited to modifications of previously released orders, acceleration of orders under general purchase agreements, etc. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. |
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