SR TECHNICS FINDS BUYER FOR PLANT.Byline: Jim Skeen Staff Writer PALMDALE - SR Technics tech·nic n. 1. technics (used with a sing. or pl. verb) The theory, principles, or study of an art or a process. 2. technics (used with a pl. verb) Technical details, rules, or methods. 3. America has found a buyer for its Palmdale plant, which just three years ago was hoped to bring the Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley thousands of jobs, officials said Tuesday. The company has an agreement to sell the more than 1 million square feet of building space that once housed its aircraft modification A change in the physical characteristics of aircraft, accomplished either by a change in production specifications or by alteration of items already produced. plant, said SR Technics America chief executive officer Kenneth Henry, who would not identify the buyer. SR Technics America will spend today and Thursday auctioning off all of its equipment. Today's auction will focus on the sale of power and hand tools, while Thursday's auction will focus on fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and machine shop equipment. ``If it's not tied to the buildings, it's gone,'' Henry said. The auction and the sale of the buildings signals the end of an operation that once employed close to 600 workers and was projected to eventually employ as many as 6,000 workers. Prior to their use by SR Technics America, the buildings were used during the 1980s and 1990s for the B-1B bomber bomber Military aircraft designed to drop bombs on surface targets. Aerial bombardment can be traced to the Italo-Turkish War (1911), in which an Italian pilot dropped grenades on two Turkish targets. program. One hundred of the bombers were built at the site by what was then Rockwell International Rockwell International was the ultimate incarnation of a series of companies under the sphere of influence of Willard Rockwell, who had made his fortune after the invention and successful launch of a new bearing system for truck axles in 1919. , a company later acquired by Boeing. The site includes two massive hangars where the B-1B bombers were built and later modified, as well as a 44,000-square-foot recreation center. The buildings sit on land owned by Los Angeles World Airports Los Angeles World Airports or LAWA is the airport oversight and operations department for the city of Los Angeles, California. This department owns and operates Los Angeles International Airport, LA/Ontario International Airport, Palmdale Regional Airport, and Van , the city of Los Angeles' airports department. The decision to establish SR Technics America in Palmdale was announced by Gov. Gray Davis in December 1999 and was heralded as a great day for economic development in California. The company grew steadily until a combination of financial woes of the company's investors in Europe and the terrorist attacks of Sept. 11, 2001 forced a series of cuts and ultimately failure. SR Technics America's problems are tied to failed expansion plans of the Swiss corporation SAirGroup and the bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most of its flagship company Swissair. Those problems lead to SAirGroup selling off SR Technics in Switzerland, a sister company of SR Technics America. While the two companies are separate entities, the Palmdale company's business plan called for it to receive funding from its Swiss sister for four years. CAPTION(S): photo Photo: A sign on the gate of the SR Technics America plant advertises auctions aimed at selling all the equipment. Jeff Goldwater/Staff Photographer |
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