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BANNER AEROSPACE ACTS ON STORM DAMAGE

 CHANTILLY, Va., Nov. 24 /PRNewswire/ -- Banner Aerospace, Inc. (NYSE: BAR) today said that it had invoked a voluntary quarantine on aircraft components stored in a warehouse at Carrollton, Texas, which was damaged by a wind and rain storm on Nov. 14, 1993. No inventory has been shipped from this warehouse since that date. The warehouse is one of three at or near Dallas operated by Banner's Dallas Aerospace, Inc. subsidiary which supplies jet engines, engine components and expendable aircraft items. The company said that the quarantine will remain in effect until a detailed inspection of the affected inventory is completed and Dallas Aerospace is satisfied the parts have met the guidelines set forth by the Federal Aviation Administration.
 The company said the building that sustained heavy wind and rain damage contained 25,000 square feet of warehouse space which represents 20 percent of the total warehouse space of Dallas Aerospace. Two other Dallas Aerospace warehouse facilities in the area sustained no damage. Banner said Dallas Aerospace is attempting to meet delivery commitments from its other locations. Banner said damage estimates will not be available until the inspection, designed to insure the integrity of the aircraft components, is completed. Banner said that it had requested and received Federal Aviation Administration guidelines to be used in the inspection. Management believes that any loss will be covered by insurance.
 Banner Aerospace is a leading international supplier to the aerospace/aviation industry. Products include jet engines and engine components, avionic, hydraulic and electrical systems, fasteners, bearings and other airframe components. The company also sells corporate aircraft including helicopters and jet and turboprop airplanes, repairs corporate aircraft engines and processes insulated electrical wire for the aerospace/aviation market.
 -0- 11/24/93
 /CONTACT: John C. Wertz of Banner Aerospace, Inc., 703-478-5790/
 (BAR)


CO: Banner Aerospace, Inc. ST: Virginia, Texas IN: ARO AIR SU:

KL-AR -- CL016 -- 4789 11/24/93 16:15 EST
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Publication:PR Newswire
Date:Nov 24, 1993
Words:317
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