American Aircarriers Support, Inc. Announces Formation of AAS Technologies, Inc.Business Editors FORT MILL, S.C.--(BUSINESS WIRE)--Jan. 20, 2000 American Aircarriers Support, Inc. (Nasdaq: AIRS) today announced the formation of AAS Technologies, Inc., a new business unit which will pursue strategic initiatives involving technology related ventures. The company will focus on all aspects of technology affecting our industry, including but are not limited to e-Commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. , database/record management, communications and business software. &uot;Electronic commerce and related technologies will have a dramatic impact on maintenance, repair and overhaul Maintenance, Repair and Overhaul or MRO is a multi-billion dollar industry which works on international authorization rules to deliver a safe airline operation and to assure reliability and availability of customer fleets. , airline operations and supply-chain management. AIRS strategy is to identify companies that are technology leaders in their industries and migrate this technology to the aerospace industry. We believe that through a series of acquisitions or joint ventures, AIRS can achieve a powerful e-commerce solution for the aviation industry,&uot; said Karl Brown, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AIRS. American Aircarriers Support, founded in 1985, provides integrated aviation maintenance, repair and overhaul services including spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. for commercial airlines, cargo operators and maintenance and repair facilities worldwide. The company offers engine and aircraft management services, as well as maintenance, repair and overhaul of flight controls, landing gear systems and jet engines at its FAA licensed facilities. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Forward-looking statements usually contain the words &uot;believe&uot;, &uot;estimate&uot;, &uot;project&uot;, &uot;expect&uot; or similar expressions. These statements are made pursuant to the safe harbor 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. provisions of 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. These forward-looking statements are based on many assumptions and factors, and although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such forward-looking statements involve risks and uncertainties and actual results could differ from those described. Future results of operations may vary due to numerous factors, many of which are beyond the control of the company. The factors are described in the company's filing with the Securities and Exchange Commission and incorporated by reference herein. |
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