Compass Aerospace Engages Wachovia Securities as Financial Advisor.Business Editors SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--March 10, 2003 Compass Aerospace announced today the hiring of Wachovia Securities Wachovia Securities, located in Richmond, Virginia (soon to be moved to St. Louis), is the third largest brokerage firm in the United States as of 2006 with $689 billion retail client assets under management. It is a subsidiary of Wachovia Corporation. as its exclusive Financial Advisor to assist in the evaluation and execution of potential strategic acquisitions. Said Compass Aerospace President 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. John Reimers John Henry Reimer (born July 16, 1936) is a Canadian politician. He served in the Canadian House of Commons from 1979 to 1980, and again from 1984 to 1993, as a member of the Progressive Conservative Party. Reimer was born to a Mennonite family in Kitchener, Ontario. , "We believe that our industry is right for the combination of one or more companies. The current downturn in commercial aerospace has made it a necessity for smaller companies to become larger. Significant shareholder value can be created through strategic acquisitions." Acquisitions are part of Compass Aerospace's long-term business strategy of expanding its role as a structural subassembly sub·as·sem·bly n. pl. sub·as·sem·blies An assembled unit forming a component to be incorporated into a larger assembly. manufacturer and supply chain integrator. Reimers also stated that the key to such a strategy involves a more integrated relationship with its customers. Compass Aerospace, in conjunction with its equity sponsor the MatlinPatterson fund and Wachovia Securities, is in the preliminary stages of evaluating potential acquisition targets and plans to complete a transaction within the next nine to 12 months. Compass Aerospace is a diversified, multi-location manufacturer of a broad range of structural components and assemblies and supports a wide spectrum of OEMs worldwide. The companies within the Compass family provide an array of advance machining, fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , assembly, and supply chain/logistics management services for the commercial and general aviation markets, as well as the defense markets and related industries. Forward Looking Statements: This release contains forward looking statements within the meaning 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 that involve risks and uncertainties, such as statement's of the Company's strategies, plans, objectives, expectations and intentions. Actual performance, prospects, developments and results may differ materially from any and all anticipated results. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion