COLTEC INDUSTRIES COMPLETES ACQUISITION OF MAJORITY INTEREST IN POLISH AEROSPACE COMPANY.NEW YORK--(BUSINESS WIRE)--May 6, 1996--Menasco Aerospace, a unit of Coltec Aerospace Canada Ltd., has completed the acquisition of a 73% interest in a Polish aerospace operation, Wsk "PZL PZL Panstwowe Zaklady Lotniczc (State Aviation Works) Krosno," which will enable Menasco to develop landing gear and flight control systems for small aircraft at a competitive cost. In addition, the facility in Krosno, which is in southern Poland, will produce components that Menasco will integrate into landing gears and flight controls on Boeing, McDonnell Douglas McDonnell Douglas was a major American aerospace manufacturer and defense contractor, producing a number of famous commercial and military aircraft. It merged with Boeing in 1997 to form The Boeing Company. , Bombardier and other aircraft. John M. Cybulski, senior vice president, aerospace, Coltec Industries, said, "The Krosno plant has been renamed Menasco-Krosno Limited and will add cost-effective capacity to our North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. facilities, which are being expanded to meet rising demand from our customers." Coltec will invest $2 million in Menasco-Krosno during the initial two-year period and plans to increase that investment in future years as modern manufacturing equipment is installed. Mr. Cybulski noted, "I've met many of the 130 employees at the facility and I'm impressed with their work ethic work ethic n. A set of values based on the moral virtues of hard work and diligence. work ethic Noun a belief in the moral value of work and skill levels, which rapidly are improving. However, until now, the facility sold mainly to the Polish aerospace industry, with limited participation in western markets. To ensure that Menasco-Krosno meets the standards of Coltec's aerospace operations, the Menasco Aerospace plant in Oakville, Ontario Oakville (2006 population 165,613[2]) is a town on Lake Ontario in southern Ontario, Canada, midway between Toronto (about 31 km or 19 mi away) on its eastern border and Hamilton (about 20 km or 12 mi away) from its western border. , will be responsible for the implementation of Menasco's technology, cost and production control procedures and quality standards to meet the demanding specifications of western customers as well as the Federal Aviation Authority." Coltec Aerospace Canada Ltd. is a subsidiary of Coltec Industries. Coltec Industries Inc is a diverse manufacturing company serving aerospace, automotive and other industrial markets. CONTACT: Michael Dunn Michael Dunn (born Gary Neil Miller, reportedly on February 7, 1934 in Shattuck, Oklahoma; died August 30, 1973 in London) was a successful "little person" American actor. , 212/940-0523 |
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