DeCrane Aircraft Holdings Acquires Audio International.EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif.--(BUSINESS WIRE)--Nov. 14, 1997--DeCrane Aircraft Holdings Inc. (Nasdaq:DAHX), a leading manufacturer of avionics avionics (ā'vēŏn`ĭks), electronic instruments used in air or space flight; also the design and production of such instruments. Early planes had few instruments, but as aviation and aircraft became more complex, so did instrumentation. components and an avionics systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. for the commercial aircraft industry, Friday announced the closing of its previously announced acquisition of Audio International Inc. Terms of the transaction were undisclosed. Chairman and Chief Executive Officer R. Jack Decrane stated: "Today's announcement represents a milestone in our company's development and further demonstrates our ability to enhance our growth through acquisitions that complement our existing systems integration and components operations." Among other strategic and financial benefits with this purchase we are able to expand into the $6 billion corporate business jet services market and simultaneously add such `blue chip' customers like Bombardier, Dassault, Raytheon, Jet Aviation and K-C Aviation to our roster of clients." Audio International, an Arkansas-based privately held firm founded in 1986, is the nation's largest and leading independent provider or premium, customized aircraft entertainment and cabin management products and systems for the high-end corporate jet market. With in-house engineering, development and manufacturing capabilities, Audio's range of products and services include stereo See stereophonic. systems, video monitors, amplifiers, chimes and paging devices, headphone See headphones. systems and all passenger switch and other controls, like cabin light and climate, used in the aircraft cabin An aircraft cabin is the section of an aircraft in which passengers travel, often just called the cabin. At cruising altitudes, the surrounding atmosphere is too thin to breathe without an oxygen mask, so cabin pressurization adapts the cabin to atmospheric pressures. . DeCrane Aircraft Holdings is a leading manufacturer of avionics components and a provider of avionics systems integration services in certain niche markets A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. of the commercial aircraft industry. The company's products and services typically are utilized to provide an interface between an aircraft and its avionics systems. -0- Except for historical information contained herein, this document contains 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. 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. These statements involve known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the company operates in an industry sector where securities values may be volatile and may be influenced by regulatory and other factors beyond the company's control. Important factors that the company believes might cause such differences are discussed in the cautionary statements accompanying the forward-looking statements in the company's prospectus, dated April 16, 1997, filed with the Securities and Exchange Commission and subsequent filings. In assessing forward-looking statements contained herein, readers are urged to read carefully all cautionary statements contained in those filings with the Securities and Exchange Commission. -0- For more information about DeCrane Aircraft Holdings Inc. via facsimile, call 800/PRO-INFO and dial client code "DAHX". CONTACT: DeCrane Aircraft Holdings Inc., El Segundo Robert A. Rankin, 310/725-9123 or Financial Relations Board Karen Taylor Karen Taylor is an English comedienne from Barrow-in-Furness, Cumbria. She is a former finalist in the prestigious Daily Telegraph Open Mic Award[1] and has fronted her own sketch show on BBC Three, entitled Touch Me, I'm Karen Taylor. (general information) Moira Conlon (investor/analyst contact) 310/442-0599 |
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